LPL Financial has added a team of advisors in New Haven, Conn., to its Strategic Wealth Services model. Logan Reed, James “Jim” English III, Michael Allegra Jr., and Matthew Fleming join from Janney Montgomery Scott, where they managed about $830 million.
The team will launch a new independent practice, Thimble Island Private Wealth.
Thimble is the 45th team to join Strategic Wealth Services, the independent broker/dealer’s premium affiliation model that went live in April 2020.
LPL created the affiliation model for advisors with over $200 million in AUM coming from wirehouses or regional full-service firms. The business gives these advisors a client service model meant to replicate the kind of support many got at full-service firms. That includes transition advice, assistance onboarding clients, securing real estate, installing technology and setting up compliance and marketing programs.
Advisors also receive ongoing support, with one point of contact and a dedicated team.
“LPL’s open architecture platform, robust resources and dedication to independence are in perfect harmony with our values and goals,” Reed said in a statement. “We believe this move will allow us to provide an even more comprehensive and personalized financial planning experience for our clients.”
