LPL Adds $225M Advisor Duo Focused on the “Outdoors” 

LPL Financial LLC has added Northern Plains Financial, a $225 million Grand Forks, ND-based advisory firm, to its broker-dealer, RIA and custodial platforms. The firm joins LPL from Cetera. 

Northern Plains Financial was founded in 2014 by Michael Elsberry. In 2021, Eric Carlson, a former commercial banker with 13 years of experience, joined the team. The firm offers financial planning and investment management services, with a niche for those in the farming and ranching community, as well as business owners who “love” to hunt and fish, LPL said. 

“It’s been rewarding to cultivate meaningful relationships with clients over the years as they pursue their version of financial freedom,” said Elsberry. “We’ve found that our holistic approach to financial planning empowers clients to realize their unique financial goals through the implementation of tailored strategies.” 

The team, which also includes branch operations manager Jerrilyn D. Walstad and support staff Amy Nygaard and Jamie Blodgett, turned to LPL for “more extensive resources, custom solutions and differentiated service experiences,” LPL said. 

Elsberry added speed and efficiency were key considerations when searching for a new partner. “We look forward to quicker return times for tasks like account openings.” 

Last month, LPL lured SoundWay Financial, a $180 million seven-person North Haven, CT-based team, from Cetera. In July, LPL added Englert Financial, a $170 million family-owned firm based in Springfield, VA 

LPL serves over 23,000 financial advisors, including advisors at approximately 1,000 institutions and at approximately 580 registered investment advisor firms nationwide.