LPL Adds $4.6 Billion Advisor Team

Pilot Financial Joined LPL From Lincoln Financial
Scott Posner, EVP, Business Development, LPL Financial, and Chris Roney, Partner and Manager, Pilot Financial
Scott Posner, EVP, Business Development, LPL Financial, and Chris Roney, Partner and Manager, Pilot Financial
Jeff Berman, Contributing Editor & Reporter, Wealth Solutions Report
Jeff Berman, Contributing Editor & Reporter, Wealth Solutions Report

Pilot Financial, a network of 105 advisors, joined LPL Financial’s broker-dealer, RIA and custodial platforms from Lincoln Financial, LPL said Wednesday.

The Pilot advisors reported serving about $4.6 billion in advisory and brokerage assets as of Dec. 31.

Explaining his firm’s decision to join LPL, Chris Roney, Pilot Financial Partner and Manager, said, “This move will greatly enhance our ability to service accounts more effectively, resulting in more convenience for clients and easy account access at their fingertips.”

Pilot advisors are also “highly interested in the vertical integration of LPL’s digital capabilities, along with the flexibility to develop more personalized financial strategies,” he said.

Greensboro, North Carolina-based Pilot Financial’s history can be traced back to the turn of the 20th century and three small firms – Pilot Life Insurance, Lincoln National Life Insurance and Jefferson Standard Life Insurance.

Following a series of mergers, Pilot Financial was founded in 2001 to support entrepreneurial-minded independent advisors with strategic planning, coaching, compliance and administrative assistance to help them succeed.

“This move will greatly enhance our ability to service accounts more effectively.”

– Chris Roney

In addition to Roney, the firm is led by Partners Greg Smith, Daryl E. King and Bill Harnden.

“This industry is built on relationships, and we have a wonderful culture here where we wrap our arms around every single advisor in the Pilot family to support them and make it easier for them to do business,” according to Smith. “This move is the next step in that commitment to their success,” he said.

LPL will “continue to invest in our platform and provide flexible solutions to help firms design the perfect offering for their business and clients,” according to Scott Posner, LPL Executive Vice President, Business Development.

LPL serves almost 23,000 financial advisors, including advisors at about 1,100 institutions and at approximately 570 RIA firms across the U.S., it said. The firm agreed to acquire Atria Wealth Solutions in February. It recruited $80 billion in assets last year.

Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jberman@wealthsolutionsreport.com.

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