LPL Financial continues to poach advisors from firms undergoing major acquisitions and integrations, this time adding a $615 million Atlanta team formerly with Lincoln Financial's wealth division, which Osaic recently acquired.
Financial advisors Jason Walker, Vladimir Nikitenko, H. Scott Braswell, Rosty Tkachenko and John Hydrick join LPL’s broker/dealer, RIA and custodial platforms, the latest in a multi-month run of Osaic-to-LPL transitions. The team has created Wealthstead Financial Advisors, and has joined Integrated Financial Group, a nationwide consortium of independent advisors.
Wealthstead’s business grew out of the nonprofit market, but it has expanded to include mass affluent families, executives and business owners.
The advisors decided to look around for a new broker/dealer upon learning of Osaic’s acquisition of Lincoln.
“We were looking for a partner that would allow us to collaborate more effectively and use each other’s different backgrounds and specialties to better serve our clients,” Walker said in a statement. “We believe LPL’s integrated technology and strategic business resources give us more choices and robust tools to deliver exceptional experiences to our esteemed clients. We feel strongly that LPL will provide the independence and support we need to continue to grow our business the way we see fit.”
The team was also attracted to IFG’s localized support—the firm is also based in Atlanta—and access to study groups.
Osaic closed on the deal to acquire Lincoln Financial’s wealth business for $115 billion earlier this year, planning to onboard more than 1,400 advisors. In the wake of these changes, some former Advisor Group and Lincoln teams are fleeing for other firms, including LPL.
These include Pilot Financial, an extensive network of 105 advisors with $4.6 billion in managed assets, which opted to move its business to LPL from Lincoln Financial shortly after the deal finalized.
