LPL Financial LLC, the nation’s largest independent broker-dealer, has added Encore Capital Management to its broker-dealer and corporate registered investment advisor model. The team has aligned with The Financial Services Network, an existing firm supporting LPL-affiliated advisors.
The advisors join from Wells Fargo Advisors and reportedly serve approximately $205 million in advisory, brokerage, and retirement plan assets.
Based in the Los Angeles suburb of Glendale, California, Encore Capital is led by managing partners and co-founders Ara Mekhitarian and Leonardo Aguilar, who have been partners for
more than 10 years and are supported by chief administrative officer Amanda Aguilar. The team provides investment, insurance, estate planning and wealth preservation services to include high-net-worth individuals, business owners, and families.
LPL Financial (Nasdaq: LPLA) supports 20,000 financial advisors, and approximately 800 institution-based investment programs and approximately 500 independent RIA firms nationwide. LPL’s advisory and brokerage assets total approximately $1.16 trillion.