By Andrew Welsch
LPL Financial said it recruited an advisor team from Osaic where the group oversaw $1 billion in client assets, making it the second big recruiting announcement for the company this month.
Salient Wealth Planning Group joined LPL's broker-dealer and registered investment advisor in Manhattan Beach, Calif. The group includes team founder John P. Schlatter and advisors Robert Rojano, Alec Hoag, and Michael Madden.
Schlatter said they chose to move to LPL because of its resources and technology, citing recent investments LPL has made to enhance its tech infrastructure.
Schlatter is an industry veteran who started his career in 1988, according to BrokerCheck, a public database maintained by industry self-regulatory organization Finra. He has been registered with Cigna Financial Advisors, Lincoln National Life Insurance, and Osaic, which was formerly known as Advisor Group.
A representative for Osaic could not be reached for comment.
Last week, LPL said it recruited a father-and-son advisor team from UBS that previously oversaw approximately $1.3 billion.
LPL has been steadily expanding its advisor head count through recruiting and acquisitions. It offers advisors several ways to join it, including as W2 employees and 1099 independent contractors. The company has more than 28,000 financial advisors and approximately $1.8 trillion in brokerage and advisory assets on behalf of 6 million Americans. It reports earnings Thursday.
Write to Andrew Welsch at andrew.welsch@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
January 29, 2025 13:43 ET (18:43 GMT)
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