Home News LPL Financial Recruits $300 Million Firm from Cetera

LPL Financial Recruits $300 Million Firm from Cetera

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

LPL Financial LLC, the nation’s largest independent broker-dealer, has added Multop Financial to its broker-dealer and corporate registered investment advisor platforms. Multop Financial, which was previously affiliated with Cetera Financial Group, oversees approximately $300 million of client brokerage and advisory assets.

The Bellingham, Washington-based firm was founded in 1976 by Air Force veteran Phillip Multop, and includes three financial advisors, three certified public accountants, and a six-member support staff. Multop Financial offers wealth management, income tax planning and small business accounting and consulting services.

“The decision to move to LPL was guided by our commitment to our clients,” said Multop. “In today’s environment, partnering with a steadfast and proven leader such as LPL enables us to support our clients over the long term. In addition, our firm’s philosophy directly echoes that of LPL.”

Multop said LPL’s technology and back office support are among the factors that supported their decision to move, providing their advisors more time to work directly with clients. Additionally, he said younger advisors and professionals on his team will gain valuable insight into the industry through LPL’s expansive network of like-minded colleagues.

In other company news, LPL recently recruited Richmond, Virginia-based Moore Financial Services, a $200 million firm previously affiliated with Lincoln Financial Securities.

LPL Financial provides service to approximately $659 billion in brokerage and advisory assets as of June 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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