North Carolina Advisory Jumps from Ameriprise to LPL
LPL Financial LLC, a leading retail investment advisory and independent broker-dealer firm, announced that Socratic Wealth Advisors has joined its broker-dealer platform and aligned with Independent Advisor Alliance, an independent advisory firm on the company’s hybrid registered investment advisor platform.
Socratic Wealth Advisors was founded in 2017 in Raleigh, North Carolina and includes five advisors and four professional staff members. The firm was previously aligned with Ameriprise and served approximately $275 million of client brokerage and advisory assets, as of April 30.
“We welcome Socratic Wealth Advisors to LPL,” said Craig Kamis, LPL executive vice president, business development. “With the increasing regulatory changes, LPL has been seeing a flight to quality by advisors in the independent space. Socratic Wealth Advisors was looking for a true independent partner that could also provide high-quality service and technology resources to help them manage and grow their business.”
Last week, The DI Wire reported that Black Box Pension joined LPL’s broker-dealer platform and aligned with Global Retirement Partners, a retirement plan firm on LPL’s hybrid RIA platform.
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), served approximately $535 billion in brokerage and advisory assets as of April 30, 2017. LPL is the nation’s largest independent broker-dealer based on total revenues. The company provides technology, clearing and compliance services, practice management programs and training, and independent research to more than 14,000 independent financial advisors and more than 700 financial institutions.
