Advisors Steve Mayer and Joe Roddy and administrative assistant Laurie Elfrank of West End Advisory Group are the newest team to join LPL Financial.
The St. Louis team moved from Cetera Financial Group where it managed $170 million in total assets, including advisory, brokerage and retirement plan assets. Mayer and Roddy provide investment advice, financial planning, wealth management and retirement plan consultations to people in transition, said Roddy. Roddy said the move was partially motivated by a need for more flexible technology and expanded client services.
“We believe this will help us elevate the service we provide to our clients,” Roddy said. “Everything we do is for our clients. We view this as a long-term move that will set our business up for the future and best support our clients’ growing expectations.”
West End Advisory is the second team LPL has added this week. Two days prior, the independent broker/dealer announced that it recruited a $700 million in AUM team from Morgan Stanley. The advisors, Steve Bailin, Jodie Cohen and Jeffrey Prince, launched PBC Private Wealth through LPL’s Strategic Wealth Services, a program that provides transition support to wirehouse breakaways. PBC has offices in Los Angeles and Las Vegas, servicing business owners and high-net-worth individuals and families.
“The decision to launch PBC Private Wealth was a call to action; it’s what our clients are asking for,” said Bailin.
Both teams add to LPL’s advisor head count of over 18,000 financial advisors and 450 independent RIA firms nationwide.