LPL Financial Lands $3.1B Advisor Network from TD Ameritrade, Geneos
LPL Financial LLC announced that CG Advisor Network, a division of registered investment advisor CG Advisory Services, has selected LPL as its primary custodian and exclusive broker-dealer.
The 74-advisor firm headquartered in Haslett, MI collectively oversees about $3.1 billion in fee-based advisory assets and commission-based brokerage assets. It was previously associated with custodian TD Ameritrade and had used Geneos Wealth Management for brokerage services.
CG Advisor Network was founded in 1998 by Chief Executive Officer Anthony Mazzali and a team of advisors. It provides a platform and back-office support system for advisors leaving larger firms for independence.
“For independent advisors, firm culture is king – and our culture at CGAN is all about giving advisors the control they want over the way they work while providing the infrastructure and support necessary to drive meaningful growth,” said Mazzali.
LPL now supports over 21,000 financial advisors, including advisors at about 1,100 enterprises and at about 500 RIAs nationwide who custody or service $1 trillion in brokerage and advisory client assets.