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2012 AUM 2976 billion 2011 AUM 2596 billionAUM per Advisor 266 million

Texas Advisors With $125 Million in Assets Join LPL

Patrick Foy and Chris Willis will join LPL Financial from Raymond James Financial Services, citing the firm's platform and resources that can help streamline client services.

Two Texas-based wealth advisors managing about $125 million of client brokerage and advisory assets will be joining LPL Financial from Raymond James Financial Services, LPL announced this morning.

Patrick Foy and Chris Willis have worked together for more than 18 years, specializing in working with retirees and business owners to offer wealth management and investment planning. The two advisors are based in Winnie, Texas.

“With the support of LPL, we will have access to resources that can streamline the services we provide and help eliminate loads of paperwork, which will allow us to spend more time developing deeper relationships with our clients,” Willis said.

Like other recent additions to LPL Financial, Foy and Willis cited LPL’s platform as a key reason for making the transition to the country’s largest independent broker/dealer. The firm has undergone a period of ‘rebounding,’ making significant investments in tech in 2018, including an integration with Riskalyze and the $28 million acquisition of AdvisoryWorld. LPL has budgeted $135 million for tech improvements for this year, and advisors have praised the firm’s technology growth.

The firm has also recruited numerous other advisors in the past month. Last month, Beaumont, Texas-based Salter Financial Group, whose advisors managed $100 million in assets, joined LPL from Cetera Financial Network. Earlier this month, PacNorth Retirement Group also left Raymond James to join LPL Financial. PacNorth manages about $1.1 billon of brokerage, advisory and retirement plan assets and also cited LPL’s tech advantages as a key reason for the change.

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