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Southeast Team With $350 Million AUM Joins LPL Institution Services

The wealth management team coming from CenterState Bank will help South State Investment Services supply financial advice to clients in states like Alabama, Florida, Georgia, Virginia and the Carolinas.

The wealth management program at CenterState Bank will be joining LPL Financial Institution Services as a result of a merger with South State Bank, an LPL client. 

The team consists of eight advisors and five client services team members, and serves about $350 million in brokerage and advisory assets. Prior to joining LPL, the team affiliated with NBC Securities, and will now join more than 40 members at South State Investment Services to offer financial advice. 

Tim Sease, managing director at South State Investment Services, said the merger meant South State could now offer financial advice to clients in Florida, Alabama, Georgia, North and South Carolina and Virginia.

“We are excited to grow our team and to enhance our talent through the addition of these advisors who bring valued counsel to clients,” he said. “We thank LPL for the support with the merger and for their ongoing partnership.”

Rich Steinmeier, LPL’s managing director and divisional president, business development, congratulated the newest members at South State Investment Services.

“We have a strong partnership with Tim and the South State team, and we are deeply committed to helping them expand their investment program and reach more clients throughout the Southeast,” he said. “We understand the unique needs and opportunities that institution-based investment programs face, and LPL’s Institution Services model is designed to serve this segment of financial professionals with strategic consulting and a differentiated service experience, all powered by a comprehensive, integrated digital platform.”

Earlier this month, the Institution Services platform at LPL welcomed the wealth management division of Iowa-based GreenState Credit Union, with five advisors coming from an affiliation with Cambridge Investment Research, and a sixth joining from Royal Alliance. The team managed about $350 million in brokerage, advisory and retirement plan assets.


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