A Las Vegas-based firm of three advisors with more than $300 million in assets under management is joining LPL Financial, the independent broker/dealer announced. The Sudol Group, consisting of financial advisors Mark Sudol, Gary Sudol and Jeffery Lavin, will move to LPL from Ameriprise Financial Services.
Mark Sudol founded the firm in 2003, and opened a second office in Gardenia, Calif., in 2010 after Lavin joined the firm. Sudol, who has more than 35 years of experience in financial services, said LPL’s research resources will help the advisors craft appropriate investment strategies for their clients.
“There are no proprietary products, so we are free to advise our clients and create portfolios that are truly catered to their needs,” he said. “Most of our clients are transitioning to or already in retirement. Our focus is to work closely with them to maximize their wealth and manage risk.”
According to LPL’s financial report for August, the total brokerage and advisory assets held by the firm by the end of last month was about $712 billion. LPL has made several acquisitions in recent months, including last week, when Robert Paolini, a New Jersey-based financial advisor with about $150 million in AUM, joined with LPL from FSC Securities.
Earlier this month, JCG, a Chesapeake, Va.-based firm with $150 million in AUM, also joined with LPL, as did two retirement counselors from Benefit Funding Retirement Services (with a combined total of $150 million in AUM) in August. In July, LPL announced that a Los Angeles-based retail advisory firm with approximately $500 million in managed client assets would join with them, as well.