LPL Financial LLC, the nation’s largest independent broker-dealer, has added financial advisors Brian Lynn, John Fessler and Jim Pacheco to its broker-dealer, corporate registered investment advisor and custodial platforms. The team joins from Wells Fargo Advisors and serves approximately $305 million in brokerage, advisory and retirement plan assets.
Lynn, Fessler and Pacheco have teamed up to launch Claritas Financial Partners in Marlton, New Jersey, with support from LPL Strategic Wealth Services, a new affiliation model for established wirehouse- or employee channel-based advisors seeking independence.
The trio became colleagues at their previous firm, working in neighboring towns around South Jersey while developing a friendship. “We’ve become a tight group, and through a series of discussions, we decided we could create a better client experience and expand our offerings if we come together as a team to offer objective financial advice,” said Lynn, managing partner.
The practice’s name came to Lynn one evening while he was helping his son study for a high school Latin test. In Latin, Claritas means clarity and brightness. “That was the perfect analogy for what we are building as a company. Our mission is to bring clarity to the financial lives of our clients,” Lynn added.
In other company news, LPL recently announced plans to open a technology center in Austin, Texas.
LPL Financial provides service to approximately $670 billion in brokerage and advisory assets as of March 31, 2020. The company provides proprietary technology, comprehensive clearing services, practice management programs and training, and independent research to 16,763 financial advisors and 700 financial institutions.