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LPL Lures 105-Adviser Lincoln Financial Team With $4.6 Billion AUM

Chris Roney

Pilot Financial, a large network of 105 advisers nationwide, has joined LPL Financial’s broker-dealer, registered investment adviser, and custodial platforms. The advisers reported serving approximately $4.6 billion in advisory and brokerage assets and join LPL from Lincoln Financial.

“LPL is a stable partner, Fortune 500 company and leading wealth management firm with a proven track record as a preferred service provider for financial professionals,” said Chris Roney, Pilot Financial partner and manager. “This move will greatly enhance our ability to service accounts more effectively, resulting in more convenience for clients and easy account access at their fingertips. Our advisers are also highly interested in the vertical integration of LPL’s digital capabilities, along with the flexibility to develop more personalized financial strategies.”

Headquartered in Greensboro, N.C., Pilot Financial’s history can be traced back to the turn of the 20th century when three small firms – Pilot Life Insurance, Lincoln National Life Insurance, and Jefferson Standard Life Insurance – began to put their marks on the financial services industry. After a series of mergers, Pilot Financial was founded in 2001 to support entrepreneurial-minded independent advisers with strategic planning, coaching, compliance, and administrative assistance to help them succeed. In addition to Roney, the firm is led by a trio of partners: Greg Smith, Daryl E. King, and Bill Harnden.

The Pilot leadership team’s due diligence process led them to LPL, which “checked all the boxes” for what they were looking for in a new wealth management firm, including strategic business resources, marketing capabilities, and a dedicated customer service team. They plan to further expand their footprint across the nation as they build the team and attract new clients.

“We are looking to grow our network thoughtfully and believe that working with LPL puts us on a better trajectory to attract like-minded, quality advisers to Pilot Financial,” Smith said. “This industry is built on relationships, and we have a wonderful culture here where we wrap our arms around every single adviser in the Pilot family to support them and make it easier for them to do business. This move is the next step in that commitment to their success.”

A Texas-based, ex-Lincoln Financial adviser also headed to LPL earlier this month.

“Pilot Financial is a highly successful firm with a rich history and adviser-centric culture, and it is an honor to be their choice for enhanced services and strategic support as they seek new ways to deliver more value to their clients. We will continue to invest in our platform and provide flexible solutions to help firms design the perfect offering for their business and clients. We look forward to supporting Pilot Financial’s growth and success for generations to come,” said Scott Posner, executive vice president of business development.

LPL Financial Holdings Inc. serves nearly 23,000 financial advisers, including advisers at approximately 1,100 enterprises and 570 registered investment adviser firms nationwide. Headquartered in San Diego, its total advisory and brokerage assets totaled more than $1.44 trillion as of March 31, 2024.

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