Former Lincoln Financial Advisers With $4 Billion in Client Assets Join LPL Financial

More than 30 financial advisers with Academy Financial Inc. and PFG Advisors have joined LPL Financial’s broker-dealer, registered investment adviser, and custodial platforms. Collectively, they reported serving approximately $4 billion in advisory, brokerage, and retirement plan assets and join LPL from Lincoln Financial, whose wealth management business was acquired by Osaic earlier this year.
Headquartered in Lutherville, Md., client-centric Academy Financial was founded in 1992 by U.S. Military Academy graduate Harry Horn, CLU, ChFC, CRPC. Since then, Academy has grown into a full-service, multidisciplinary financial planning firm that specializes in developing innovative wealth creation and preservation strategies. It’s now led by partners Brent J. Kvech, AWMA; T. Joseph Barger, CRPC, CLTC; Michael T. Leonard, ChFC, CRPC; and Michael C. McFeeley, CFP, MSFS, CRPC, CBEC, a former maritime officer and U.S. Merchant Marine Academy grad. Horn continues to serve as a consultant and partner emeritus.
Based in Berwyn, Pa., PFG Advisors is led by Tyler McCraw, CFP, and Steve Morris, ChFC, CRPC, CBEC. PFG Advisors focuses on comprehensive financial planning with specializations in business succession planning, estate planning and corporate retirement strategies.
With the move to LPL, the two firms will merge and operate under the Academy brand umbrella. Together, LPL said, they are unifying their shared commitment to building and preserving wealth for families, executives, and business owners.
“We’re honored to have PFG Advisors join us as we continue to grow our firm and build meaningful relationships with clients,” Kvech said. “The PFG team shares our serve-first approach, and we look forward to collaborating on behalf of clients for the sole purpose of helping them work toward their financial goals with their best interests in mind.”
According to LPL, the teams are looking forward to the San Diego-based firm’s enhanced operational capabilities and access to advanced tools to help them efficiently manage client portfolios and concentrate on delivering personalized financial advice.
“LPL is in the business of supporting our business,” Kvech said. “We felt the stability of LPL – a Fortune 400 company with a large infrastructure, economies of scale and robust technology – would enable us to operate independently and focus solely on taking care of our clients. Ultimately, this move was made for the benefit of our clients and is part of our longtime mission to ‘serve first, serve last and serve always.’ We believe if you take care of clients and offer the best possible environment and services, everything will work out.”
“We welcome Academy Financial and PFG Advisors to LPL. At LPL, our vision is to be the best wealth management firm to help advisers maximize their success. We do that by providing innovative technology, tools, resources and a flexible operating environment that empowers advisers to deliver great advice and run thriving businesses,” said Scott Posner, LPL executive vice president of business development.
Last week at Focus 2024, LPL’s annual conference, the company shared its priorities and latest services for helping financial advisers and institutions to advance their businesses and better leverage the latest opportunities in technology.
“We look forward to supporting Academy Financial and PFG Advisors as they combine efforts and advance their practices to the next level,” Posner added.
Earlier this month, five Atlanta-based financial advisers who reported serving approximately $615 million in advisory, brokerage, and retirement plan assets also joined LPL from Lincoln Financial.
LPL Financial Holdings Inc. serves nearly 23,000 financial advisers, including advisers at more than 1,000 enterprises and 580 registered investment adviser firms nationwide. Headquartered in San Diego, its total advisory and brokerage assets totaled more than $1.5 trillion as of June 30, 2024.