Chester, N.J.-based advisor Natacha Smith is returning to LPL Financial after less than a year with 1st Global. Her firm, CKW Wealth Management, which manages $175 million in brokerage and advisory assets, has joined Private Advisor Group, an office of supervisory jurisdiction of LPL Financial.
The rest of the team, which also includes Mike Stieglitz and a team of CPA partners, is moving to LPL for the first time.
“LPL is the right choice for us because it has the size and scale to support our ability to grow,” Stieglitz said, in a statement.
“I also believe that the technology and resources that LPL provides are more robust,” Smith said. “ClientWorks, in particular, is capable of aggregating everything a client wants in one location, making the process easier and more efficient for all of us.”
Private Advisor Group recently introduced a new affiliation model aimed at luring financial advisors out of the wirehouses and making it easier for them to move to true independence, with an assist along the way powered by PAG.
The idea is to provide a “plug and play” model to wirehouse advisors who want to go independent but need a kind of “halfway house” between captured employment and true independence. The service is designed to be a temporary one, should the advisor want to use PAG for a jumping-off point, or the advisor might choose to continue their affiliation with PAG under one of the OSJ's other business models.