LPL Financial and Osaic Recruit Advisor Teams Managing $1B from Raymond James and Stifel
LPL Financial LLC and Osaic have significantly expanded their advisor networks by recruiting teams managing approximately $1 billion in client assets from competitors Raymond James and Stifel. LPL announced the addition of advisors Bobby Lumpkin, Cindy Little, and Allina Bell, who brought Capital Investment Services from Raymond James. Based in LaGrange, Georgia, this team oversees roughly $775 million in advisory, brokerage, and retirement plan assets, serving business owners and multigenerational families. The move was driven by LPL's technology and advisor-focused culture. Separately, Osaic welcomed advisor Eric Westall through its partnership with Innovative Financial Group. Westall, formerly with Stifel Independent Advisors in Chesterfield, Missouri, brings over $250 million in client assets, focusing on high-net-worth individuals. His transition aims to enhance Osaic's Midwest footprint and leverage improved technology for comprehensive wealth strategies. These acquisitions highlight ongoing consolidation and competitive recruiting efforts within the independent broker-dealer sector, as firms seek growth by attracting experienced advisors with substantial book of business.
Wire timeline
LPL Financial and Osaic Recruit Advisor Teams Managing $1B from Raymond James and Stifel
LPL Financial LLC and Osaic have significantly expanded their advisor networks by recruiting teams managing approximately $1 billion in client assets from competitors Raymond James and Stifel. LPL announced the addition of advisors Bobby Lumpkin, Cindy Little, and Allina Bell, who brought Capital Investment Services from Raymond James. Based in LaGrange, Georgia, this team oversees roughly $775 million in advisory, brokerage, and retirement plan assets, serving business owners and multigenerational families. The move was driven by LPL's technology and advisor-focused culture. Separately, Osaic welcomed advisor Eric Westall through its partnership with Innovative Financial Group. Westall, formerly with Stifel Independent Advisors in Chesterfield, Missouri, brings over $250 million in client assets, focusing on high-net-worth individuals. His transition aims to enhance Osaic's Midwest footprint and leverage improved technology for comprehensive wealth strategies. These acquisitions highlight ongoing consolidation and competitive recruiting efforts within the independent broker-dealer sector, as firms seek growth by attracting experienced advisors with substantial book of business.
InvestmentNews