LPL Recruits Five Teams with $700M in AUM 

LPL Financial LLC announced that seven financial advisors from five firms have joined LPL Financial’s broker-dealer, RIA and custodial platforms, collectively serving approximately $700 million in advisory, brokerage and retirement plan assets, according to the firm. The advisors join LPL from Osaic. 

Headquartered in the Minneapolis suburb of Maple Grove, the teams, who share a combined 170 years of experience, include Michael Matheson, Susan Anderson, and Marie Henrichs, of M² Financial Group, Amy R. Holewa of Holewa Financial, Jeff Schuler of Schuler Financial Advisor Group, Paul Lyon and Dan Pias. 

While each team plans to utilize LPL’s technology, self-clearing capabilities and back-office support, Matheson said there are additional advantages to moving to the independent broker-dealer. 

“With LPL’s practice acquisition and succession programs, we can grow our businesses and set the next generation of advisors up for success.” 

Last month, LPL added two Merrill Lynch financial advisors, James “Jamie” P. Debuque and Timothy M. Baltz, who managed $1 billion in advisory, brokerage, and retirement plan assets, who left the wirehouse to launch Continuity Private Wealth, an advisory practice affiliated with LPL’s independence model, LPL Strategic Wealth Services.