LPL Financial has added a Texas-based financial planning firm, which oversees $700 million in advisory, brokerage, and retirement plan assets, to its broker-dealer, registered investment advisor, and custodial platforms from Wedbush Securities. 

The team, Houston-based Skyward Financial Group, founded in 2021, is led by father-and-son duo D. Lynn Houston and Matthew Houston and includes Ross Stripling, who is a former MLB pitcher. 

Skyward Financial Group, which joined LPL on August 13 from Wedbush Securities’ independent channel, includes managing directors Jerry Axelrod, Lisa Marcelli, and Mike Hamilton, senior client service associate Carlie Clayton, and office manager Valencia Linton, according to the firm’s website. The firm also includes VP of operations Steven Phan, LPL said. 

The team provides wealth management, retirement planning, investment management, financial planning, and insurance plans, per the firm’s website. The team also works with Major League Baseball players and states that they are seeking to expand their base to include college athletes.    

The team chose LPL because of the firm’s “robust” technology offerings and its approach to helping their firm maintain its independence and image, Skyward Financial Group said. 

“The standout benefit for us was LPL’s robust technology. As a historically regional firm, we realized our technology couldn’t keep up, and our younger clients were seeking something that better suited their needs,” Matthew Houston, said. “Through LPL, we gain all the tools of a Wall Street firm without actually being one, and still maintaining our independence, including our own branding and image.” 

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.