Life Brokerage Financial Group, with more than $1.6 billion in client assets, will move to LPL Financial Group’s broker-dealer and corporate RIA platform on February 16, according to a press release.
LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker-dealer serving more than 14,000 independent financial advisors. The move comes after LPL’s purchase of the assets of Advisors Southeastern Alliance’s current broker-dealer, INVEST Financial Corporation, the release said.
“In an ever-changing industry, LPL has its hand on regulatory changes and, therefore, is on the leading edge of developing products and platforms to support the new era of financial services. In addition, we value LPL’s culture, employees and their ability to make us feel like we are supported as one, even in a large firm,” said Gary Richardson, Life Brokerage Financial Group’s president and CEO.
Richardson brings more than 30 years of experience in the financial services sector, and established the Clearwater, Fla.-based Life Brokerage Financial Group in 2009, which supports 80 advisors and 40 full-time staff. The firm is a National Broker’s General Agency with over 35 insurance carriers providing traditional life, annuity, long-term care and disability income product lines, according to the group’s website.