Oct 17 LPL Financial Holdings Inc, the
largest U.S. independent broker-dealer by revenue, has expanded
its network of independent advisers with a team that manages
about $450 million in client assets.
California-based Capstone Affluent Strategies, led by
adviser Darin Pastor, joined LPL in late September. The team of
six advisers formed the independent wealth management firm based
in Newport Beach.
Pastor said the advisers chose to go independent with LPL in
part because of their plans to expand the firm.
"They can help us grow the way we want to grow, not only
helping with clients but also recruiting (advisers)," Pastor
said, noting that the firm plans to also bring on 20 additional
advisers within the next two months.
Pastor, a former managing director at Prudential, had most
recently been registered with Pruco Securities before moving to
LPL, according to regulatory filings. He was also previously a
senior investment manager at JPMorgan Chase & Co, where he was a
top-ranked producing manager.
Capstone Affluent Strategies has additional branch office
locations in Los Angeles, San Francisco, Phoenix, Dallas,
Houston, New Orleans, Parsippany, and New York, in addition to
its Newport Beach office.
Boston-based LPL Financial provides brokerage, clearing and
other professional services to roughly 13,100 self-employed
brokers and advisers.
LPL Financial has expanded by adding individual advisers and
teams as well as larger independent groups like Capstone
Affluent Strategies to its broker-dealer platform.
LPL also recently added Pennsylvania-based Delaware Valley
Financial Group to its network of independent advisers. That
group managed about $500 million in client assets.