LPL Recruits $520 Million Firm from Cambridge
LPL Financial LLC, the nation’s largest independent broker-dealer, has added Premier Investments of Iowa Inc. to its broker-dealer and corporate registered investment advisor platforms.
LPL Financial LLC, the nation’s largest independent broker-dealer, has added Premier Investments of Iowa Inc. to its broker-dealer and corporate registered investment advisor platforms. Premier Investments of Iowa, which joins LPL from Cambridge, serves approximately $520 million of client brokerage and advisory assets.
Based in Cedar Rapids, Iowa and founded in 1989, the firm is led by president Jeff Johnston, vice president Brock Renner, and includes six additional advisors and a six-person support team. Services offered by firm include retirement planning, life insurance, pension analysis, college education planning, and fee-based investment services, among others.
Johnston noted that his firm grew through word of mouth as well as marketing efforts, including hosting local TV and radio shows. Going forward, he said, he sees acquisitions as a potential opportunity for continued growth.
In other LPL news, last week, they added former Cetera firm Winebrenner Financial Services, which oversees approximately $180 million of client brokerage and advisory assets.
LPL Financial provides service to approximately $659 billion in brokerage and advisory assets as of the second quarter of 2018. The company provides proprietary technology, comprehensive clearing services, practice management programs and training, and independent research to more than 16,000 financial advisors and 700 financial institutions.
