LPL Financial LLC, the nation’s largest independent broker-dealer, has added Herbert Financial Group to its broker-dealer and corporate registered investment advisor platforms. The firm’s advisors join from Centaurus Financial and serve approximately $500 million in brokerage and advisory assets.
The advisory team is based in Auburn Hill, Michigan, and was founded by longtime wealth manager Timothy Herbert, who is joined by partner advisors Scott Torosian and Kara Herbert. They focus on providing full-service, comprehensive holistic financial planning.
Timothy Herbert entered the finance industry in 1985 while still working as a human resources manager for General Motors, and today, Herbert Financial Group’s primary clients are automotive executives and retirees.
“We have extensive knowledge of GM, Delphi, FCA and Ford benefits, pension plans, stock options and retirement packages,” said Kara Herbert, Timothy’s daughter.
With the move to LPL, Herbert Financial Group has added new staff members and expanded its office space.
“We want to go from a business to an ensemble, and we look forward to partnering with LPL consultants who can evaluate our business and provide valuable insight,” said Timothy Herbert “We plan to grow organically through referrals, but our next strategy is acquisitions.”
LPL Financial provides service to approximately $719 billion in brokerage and advisory assets as of September 30, 2019. The company provides proprietary technology, comprehensive clearing services, practice management programs and training, and independent research to 16,349 financial advisors and 700 financial institutions.