A Birmingham, Ala.-based team with about $375 million in brokerage, advisory and retirement plan assets is joining LPL Financial, which marks another recruitment for the nation’s largest independent broker/dealer in the midst of the spread of COVID-19.
Horizons Financial Group’s three leaders, including CEO and co-founder James Nix Jr., Chief Investment Officer Michael Mashburn Sr. and Chief Operating Officer James “Jim” Carter, are joining LPL from Triad Advisors, recently acquired by Advisor Group. According to Nix, the firm specializes in values-based financial planning services.
“We are grounded in Christian values and consider this a ministry of services, to help our clients work toward the stress-free retirement that they want and deserve,” he said. “Our commitment is to our clients and their financial well-being today, tomorrow and throughout their retirement.”
Nix found LPL to be a source of stability, noting that Horizons was previously at a firm that had been sold twice during the time it was affiliated with it. Rich Steinmeier, LPL’s managing director and divisional president of business development, said Horizons' commitment to values-based planning was “inspiring” and could help increase the firm’s client base.
“With an increasing demand for financial advice, having a clear focus and mission can be a differentiator for firms in reaching target markets,” Steinmeier said.
LPL has continued to work on recruitment even as the spread of coronavirus in the United States has led to widespread remote working and fewer opportunities for in-person meetings. Steinmeier said while introductory communications had dropped somewhat over previous weeks, LPL had seen an uptick in advisors reaching out to them. He also detailed how the firm had embraced virtual opportunities and meetings, including a virtual home-office visit.
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