LPL Financial Nabs $650M Advisory Trio from Morgan Stanley
LPL Financial has added an advisor team from Morgan Stanley with $650 million in advisory, brokerage and retirement plan assets.
Based in Bellevue, WA, advisors Matt Tabler, Mark Eberle and Mark Allison have joined LPL Financial to launch a new independent practice, Pinnacle Private Wealth Advisors. They will be joined by four support staff members. The team affiliates with LPL’s independence model, LPL Strategic Wealth Services.
“We have always worked for the client, not for a firm. This move to independence allows us to put our clients’ needs first, without corporate influence,” Tabler said. “We have the freedom to operate on our own terms, as well as enhanced resources that will help us elevate the client experience.”
Eberle had been at Morgan Stanley for 30 years, Allison for 15 years and Tabler for nearly 12 years, according to their LinkedIn profiles.
San Diego-based LPL Financial, already the largest independent broker-dealer, gained a net 421 advisors in the second quarter, racheting headcount up 2% sequentially to 21,942.
LPL’s Strategic Wealth Services works with 76 advisors in 17 states. Those firms manage around $16bn in assets, according to LPL’s website.