LPL Adds $680M in Assets with Two Deals

LPL Financial, LLC has recruited Ryan Kirby and Michael Alvarez from US Bank’s wealth management business, where they oversaw $540 million in client assets. They will join existing LPL affiliate Seapoint Wealth Advisors.

The two long-time colleagues previously served as wealth management advisors at USB, with Kirby, who began his career in 2006 at Ameriprise, serving as Alvarez’s mentor early in their partnership. They will join Seapoint as managing directors, based out of a new office in downtown San Diego, and are supported by sales associate Leon Aceituno.

“As a business owner with the freedom to operate on my own terms, I look forward to offering a more common-sense approach to client relationships and placing their best interest first,” said Kirby.

San Diego-based LPL also announced this week that it added Prosperity Investment Management, bringing approximately $140 million in advisory, brokerage and retirement plan assets from Osaic.

The Chico, CA-based firm, founded by Robert Anderson and now led by his son RJ Anderson, offers investment management, financial planning, retirement planning, and estate planning services. Rob Anderson is returning to LPL where he previously worked from 1990 to 2004.

“With so much consolidation across the industry, we wanted to find a permanent home for the long term. We found that at LPL Financial,” RJ Anderson said.

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