LPL Financial LLC, the nation’s largest independent broker-dealer, has added Sackman & Son Financial Services to its broker-dealer and corporate registered investment advisory platforms. Sackman & Son, a third-generation financial services firm formerly affiliated with First Allied Securities, serves approximately $360 million of client brokerage and advisory assets.
Sackman & Son was founded in the early 1990s by Lee Sackman and his son Gary. The family has provided financial services to clients in the Waukegan, Illinois area for more than 50 years. Sackman has since retired, but his grandson Daniel Sackman is the third generation to take part in the family business.
Sackman noted that LPL’s self-clearing capabilities were a huge factor in the decision to change firms.
The firm also includes advisors Gary McBride and James Barnes and two support staff members. The team provides financial planning services, including retirement planning, education planning and long-term care strategies.
LPL Financial oversees approximately $659 billion in brokerage and advisory assets as of June 30, 2018 and serves more than 16,000 financial advisors.