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LPL’s Torrid Recruiting Continues With Addition of Former Lincoln Financial Firm

LPL’s Torrid Recruiting Continues With Addition of Former Lincoln Financial Firm. LPL Financial, financial services, broker-dealer, registered independent adviser, RIA, Lincoln Financial Services

RFS Financial Securities has joined LPL Financial’s broker-dealer, registered independent adviser, and custodial platforms. The team reported serving approximately $140 million in advisory, brokerage, and retirement plan assets and joins LPL from Lincoln Financial Advisors.

The Lubbock, Texas-based practice was initially founded as a life insurance firm but has evolved over the years into a full-service wealth management business led by David Miller, president and managing director. With more than three decades of experience as a financial adviser, Miller served as an office of supervisory jurisdiction prior to revamping his business to focus more on client care. Fellow adviser and business partner Mike Ivey has nearly 20 years of industry experience with a focus on holistic planning and financial education.

“We take a team approach to provide clients with a financial roadmap in their journey toward their life goals, and we take great pride in offering the highest level of professionalism and integrity in all areas of financial services,” Miller said.

Looking for a more strategic resources and a flexible business model, the team embarked on an extensive due diligence process that led them to LPL.

“LPL is an industry leader and Fortune 500 Company that has made significant investments in technology and other innovative solutions that will make our jobs easier and help us serve clients more effectively,” Miller said. “Our clients will appreciate the online tools that will give them access to their account information from any device, whenever they need it.”

The RFS recruitment aligns with other LPL additions in 2024, including the recruitment of  a $520 million-asset, ex-Osaic team and a former $1 billion Merrill Lynch team. LPL also announced the planned acquisition of Atria Wealth Solutions, whose 2,400 advisers manage approximately $100 billion in assets.

“We extend a warm welcome to David and Mike and wish them great success in the next chapter of their business. LPL strives to be a committed partner to our financial advisers, offering a wide range of differentiated services and innovative technology experiences so they can run their practice as they see fit. We look forward to a long-lasting partnership with the entire team at RFS Financial Services,” said Scott Posner, LPL executive vice president of business development.

LPL Financial Holdings Inc. serves nearly 23,000 financial advisers – including advisers at approximately 1,100 enterprises and at approximately 570 RIA firms nationwide. Headquartered in San Diego, its total advisory and brokerage assets totaled more than $1.35 trillion as of Dec. 31, 2023.

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