LPL has picked up an independent group that has $220 million in client assets by its own reckoning.
The team of six, led by 24-year industry veteran Tom Weissenburger, includes David Olberding, an advisor, plus four professional support staff. The team--Weissenburger Investments & Financial Planning--is based in Clive, Iowa.
The firm provides a range of services from retirement planning to estate planning for both individuals and families. It offers advisory services through Weis Advisory, a registered investment advisor, also based in Iowa.
Weissenburger, who started out in 1991 with VSR financial services was registered with rival Raymond James since 2009 according to their FINRAs BrokerCheck records, before he decided to move his firm to LPL. He says the decision to move was partly based on LPL's technology and ease of management.
LPL allows for a hybrid RIA platform and that was a large part of our decision to come over here. Also, as an independent guy who chooses to not to limit his business, their technology is custom made for guys like us, Wiessenburger says.
LPL has brought six teams on board worth approximately $2.8 billion in combined client assets to its RIA platform since February. The teams include Retirement Plan Analytics, Brian Hinson/Bridgeworth Financial, Standard Investment Advisors, Faubourg Private Wealth Advisors, the Center for Wealth Planning, and Ellsworth Private Wealth Management.
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