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LPL Financial

LPL Pulls in Seven Pennsylvania Advisors

Defections from Royal Alliance/Advisor Group bring a coterie of CFP/CPAs to LPL.

Seven financial advisors left Royal Alliance, part of the Advisor Group network of broker/dealers, for LPL Financial. Rich Capasso, Earl Clairmont, Rick Clairmont, Andy Gilinsky, Frank Imperial and Charlie Wilensky of CPC Financial Planning are the latest team to head for the nation's largest independent broker/dealer.

Six of the seven have both the certified financial planner designation and are certified public accountants. They tend to serve a mix of executives and small business owners in their practice. CPC Financial Planning, based in King of Prussia, Pa., joins LPL’s b/d and corporate registered investment advisor platforms with $390 million in total assets under management.

The addition of CPC Financial Planning follows the announcement of a series of others in December. Gatewood Wealth Solutions, a St. Louis-based advisory firm with $550 million in assets under management; Hadel Financial Advisors, an RIA in Overland Park, Kan., managing $165 million in assets; Herbert Financial Group, an Auburn Hill, Mich.-based hybrid with $500 million in brokerage and advisory assets; and PGA Financial Group, a N.J.-based firm managing $125 million in AUM.

LPL's total brokerage and advisory assets by the end of November were approximately $748 billion, a $16 billion increase over October; the firm netted $2.6 billion in new advisory assets.

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