Julian Lopez will focus on LPL's relationships with independent advisors.
An attorney for the independent reps said the decision has implications for the entire sector. The brokerage, NexTrend Securities, may seek to vacate the award.
The four advisors operate as Momentum Wealth Partners in Akron, Ohio.
Albuquerque-based Legacy Financial Group was founded in 1995 by Cris Giron and Eddie Fernandez.
But the deal raises the possibility other firms may go after the Securian advisors; Cetera and LPL have faced off in the past over recruiting advisors amid an acquisition.
Giant financial services companies are starting 2023 with more moves to control and own the assets of financial advisors, rather than servicing them for a modest fee.
The SEC said brokers in the firm's Lexington, South Carolina, branch office recommended variable interest rate structured products to dozens of retail customers for whom they weren't suitable.
Look for independent broker-dealers flush with interest-rate revenue to emerge as credible threats to the mergers-and-acquisitions status quo.
The independent registered investment advisor has partnered with Goldman Sachs Advisor Solutions for its custody services.
But CEO Dan Arnold is optimistic about the start of 2023, noting that the fourth quarter was the best period for recruiting last year and predicting that momentum will carry over into the first quarter.
The firm declined to comment about Jim Dickson's sudden departure from Sanctuary Wealth, which he had led since 2018.
Daniel Laiter will join Alex Brown's Brickell Avenue branch in Miami.
Jonathan Blakelock and six staff members are joining LPL from Ameriprise and will operate as Blakelock Financial Group in Kingwood.
Overall, the firm’s quarterly net revenue was flat compared to the prior year’s fiscal first quarter, and down 2% from the previous quarter.
Jeanne Eisele, Mary Gilbert and Leanne Gray operate as Anchor Financial in Linwood, New Jersey.
The deal will bring Cetera more than 1,000 advisors with $24.8 billion in assets under management and $47.4 billion in assets under administration.
Michael Critchfield and Matthew DiGiacomo operate as Core Financial Group in Yuba City, California.
Cory Triolo and Tim Checko are joining the IBD's investor and investment solutions team.
On net, the RIA channel gained 1,097 advisors and independent broker-dealers gained 923, while 1,291 advisors on net left wirehouses.
Temple, Texas-based Cedarwood Financial Partners specializes in retirement planning services.
