An Orland, In poor health.–primarily based advisory workforce with about $285 million in shopper property has joined Monetary Assets Group Funding Companies, a department workplace of LPL Monetary in Fort Mill, S.C., that works with about 800 advisors and 85 banks and credit score unions throughout the nation. The workforce, which can rebrand as Harbor Lighthouse Wealth Administration, strikes from LaSalle St. Securities.
That is the primary massive win for Monetary Assets Group since LPL introduced plans to purchase the department workplace in November. That deal will mark the primary time LPL has bought one in every of its personal branches.
Wealthy Steinmeier, a managing director and divisional president of enterprise improvement at LPL, stated the deal “gives a basis” to hurry growth on progress within the monetary establishment area. Monetary Assets Group will hold its model and management workforce after the acquisition, which is predicted to shut early subsequent yr.
The Harbor Lighthouse workforce contains monetary advisors David Rimkus, Donald Sharko and Thomas Phelan. Rimkus based the agency in 1997 after a 10-year profession in banking and has since transitioned it from a primarily transactional enterprise to a complete wealth administration agency.
Rimkus stated they determined to maneuver to LPL and FRG to assist the workforce with its advertising and marketing efforts, particularly the rebrand, and plan for the long run.
“We look ahead to constructing out our web site and having a social media presence, along with extra common touchpoints with shoppers all year long,” Rimkus stated in an announcement. “We additionally benefit from the built-in instruments created by LPL that can release our time, permitting us to extra effectively handle our shoppers’ wants and objectives. We look ahead to working carefully with Monetary Assets Group, which affords an extra layer of help and extra localized sources.”
The workforce additionally plans on using LPL’s options to assist with succession planning.
“We felt extra comfy with the power of LPL and its massive presence in Illinois,” Rimkus stated in an announcement. “We all know we’ll be capable of carry different advisors into our agency to make sure enterprise continuity. We’re dedicated to fostering relationships with our shoppers’ kids and grandchildren as they construct generational wealth.”