Financial Advisory + Broker/Dealers + Direct Investment + M&As + RIAs & Financial Advisors | September 3, 2025

LPL Draws $715M FA Team from Avantax

LPL Financial has added a six-person team of financial advisors from Cetera Group’s Avantax, where they have collectively managed about $715 million in advisory, brokerage, and retirement plan assets.

Cincinnati, OH-based Concentric Wealth Management is led by partners Patrick Burke and Matt Tarka. The firm initially launched as an accounting practice more than four decades ago and expanded into wealth management about 15 years ago, LPL Financial said.

The team also includes advisors Molly Myers, Tim Powelland, Nick Groman and Dean Johns, paraplanner Jake Burke, and client services associates Josh Wentz and Justin Lehkamp.

Concentric adds investment management, wealth management, tax and estate planning, retirement planning, risk management, and 401(k) investments to high-net-worth individuals, business owners, retirees, and “emerging affluent households,” the firm said.

“We are a one-stop-shop for our clients regardless of their stage of life. We provide highly skilled professional services through our wealth management practice,” Patrick Burke, said. “Our approach is collaborative and relationship driven. We work as a close-knit team and take a multifaceted approach to service our clients, with the end goal of providing a sense of clarity and comfort. Though financial planning can feel overwhelming at times, we focus on building trust and offering personalized guidance every step of the way.”

The team decided to join LPL Financial because the broker-dealer offers the “foundation [Concentric] need to operate a high-caliber advisory firm for high-net worth individuals.” LPL also offers Concentric its “robust” technology, capabilities, and alternative investment platform.

Recently, LPL added Mississippi-based Coastal Wealth Management Group, which oversees $175 million in advisory, brokerage, and retirement plan assets.

The broker-dealer’s mass acquisitions come as the firm unveiled its intention to roll out artificial intelligence-powered tools in a $50 million investment that’s aimed at boosting its advisor compensation platform.