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Pilot Financial LPL Financial
(L-R): Pilot Financial partners Bill Harnden, Greg Smith, Chris Roney and Daryl King

LPL Recruits $4.6B OSJ from Lincoln

Pilot Financial, which has 105 advisors, joins LPL as an office of supervisory jurisdiction, following Lincoln's sale to Osaic.

Pilot Financial, a large network of 105 advisors with $4.6 billion in assets under management, has moved its advisory and brokerage business to LPL Financial from Lincoln Financial. This follows the sale of Lincoln’s $115 billion wealth business to Osaic, which closed earlier this month.

Pilot, based in Greensboro, N.C., was founded in 2001 through a series of mergers and has been affiliated with Lincoln since then. Partners Chris Roney, Greg Smith, Daryl E. King and Bill Harnden run the firm, which will operate as an office of supervisory jurisdiction of LPL.

The team was attracted to LPL’s strategic business resources, marketing capabilities and customer service. They also believe the relationship with LPL will help attract new advisors to the firm.

“We are looking to grow our network thoughtfully and believe that working with LPL puts us on a better trajectory to attract like-minded, quality advisors to Pilot Financial,” Smith said in a statement. “This industry is built on relationships, and we have a wonderful culture here where we wrap our arms around every single advisor in the Pilot family to support them and make it easier for them to do business. This move is the next step in that commitment to their success.”

Earlier this week, LPL added Oklahoma City-based advisors Alain Verhille and James S. Wood to its affiliation model for high-net-worth-focused advisors, LPL Private Wealth Management. The advisors, who joined from Merrill Lynch, are launching Auctus Legacy Private Wealth Management, with $705 million in total assets.

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