LPL Financial Recruits Team from Advisor Group’s Royal Alliance
LPL Financial LLC, the nation's largest independent broker-dealer, has added Walnut Beech Advisors to its broker-dealer, corporate registered investment advisor and custodial platforms.
LPL Financial LLC, the nation’s largest independent broker-dealer, has added Walnut Beech Advisors to its broker-dealer, corporate registered investment advisor and custodial platforms. The team launched a new office of supervisory jurisdiction group and serves approximately $550 million in advisory, brokerage and retirement plan assets.
The team joins from Royal Alliance, part of the Advisor Group network of broker-dealers.
Led by OSJ manager Tim Maurer and managing partner Rick Betancourt, the newly-formed enterprise includes 20 financial professionals. The firm’s name, Walnut Beech Advisors, represents the streets where their offices are located in Rochester, Michegan, and Long Beach, New York.
The team has been moving to LPL in waves since last fall, with its final advisor joining this month. According to the firm, the move to LPL “opens up the ability to co-brand as a tax-focused OSJ group, where they can work closely with certified public accountants and enrolled agents who complement their investment strategies and financial plans.”
“As a millennial advisor, I’m really excited about how much LPL invests in innovative technology. My clients are requiring more and more sophisticated digital capabilities, and the ability to easily access their accounts and information from any device, Betancourt said.
Now that the team is fully onboard, its leaders are planning for future growth and expansion.
LPL Financial provides service to approximately $903 billion in brokerage and advisory assets as of December 31, 2020. The company provides proprietary technology, clearing services, practice management programs and training, and independent research to 17,287 financial advisors.
