Cetera OSJ Snags $312M Team From LPL FinancialCetera OSJ Snags $312M Team From LPL Financial

Regal Wealth Advisors, a Myrtle Beach, S.C.-based team with $312 million in assets under administration, has moved their book to Cetera Advisor Networks from LPL Financial. The group has joined Summit Financial Networks, a super office of supervisory jurisdiction of Cetera Advisor Networks.

The practice was co-founded by Michael McCarthy, who also serves as director of financial planning, and Andrew S. Pincus, who brings a background in financial and tax issues. They’re joined by Fred DaVeiga, who works with individuals, families and businesses, and collaborates with their tax and legal professionals.

In a statement, McCarthy said they liked Summit for its individualized support and the ability to tap into Cetera’s resources.

Summit Financial Networks was created in 2019 when Cetera shuttered Summit Brokerage, one of its independent broker/dealers, and rolled it up as a “region.” Marshall Leeds continues to serve as president of Summit.

Cetera now has $190 billion in assets under management and more than 12,000 advisors.