Home News LPL Financial Adds Former Summit Brokerage Firm to Platform

LPL Financial Adds Former Summit Brokerage Firm to Platform

LPL Financial LLC, the nation’s largest independent broker-dealer, has added Patriot Wealth Management to its broker-dealer and corporate registered investment advisor platforms.

LPL Financial LLC, the nation’s largest independent broker-dealer, has added Patriot Wealth Management to its broker-dealer and corporate registered investment advisor platforms. Patriot joins from Summit Brokerage Services, part of Cetera’s network of broker-dealers, and oversees approximately $120 million of client brokerage and advisory assets.

Based in Torrance, California, Patriot provides short- and long-term wealth management services to clients. The firm is led by E. Martin von Känel, founding partner and CEO, and also includes Monica Herrera, director of operations, and support staff members Elizabeth Martinez and Carly Shafik.

Von Känel was affiliated with LPL from 1994 to 2009 and said that LPL’s new leadership and direction inspired his return to the firm.

“Transitioning a business is a big undertaking, but returning to LPL was the right decision for me, my family and my firm,” he said. “I believe LPL has gone to great lengths to enhance their support to advisors. I’ve seen that no matter the size of your business, you are a part of the team, and we all work together to be successful.”

LPL Financial provides service to approximately $681 billion in brokerage and advisory assets as of the third quarter of 2018. The company provides proprietary technology, comprehensive clearing services, practice management programs and training, and independent research to more than 16,000 financial advisors and 700 financial institutions.

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