LPL Snags $150M Advisor from OsaicLPL Snags $150M Advisor from Osaic
Advisor Nolan Venable and his team have left Osaic after 26 years for the stability of LPL.
Another advisor has departed Osaic for LPL Financial. A Lafayette, La.-based team, led by advisor Nolan Venable, will move its $150 million book of business to LPL.
Venable cited LPL’s stability in the marketplace, integrated technology, advisor support and self-clearing capabilities as reasons for the move.
“With LPL’s self-clearing capabilities and integrated technology, everything can be accessed seamlessly from one portal,” he said in a statement. “That centralized workflow makes it much easier to do business and will bring more to each client interaction.”
Venable launched his advisory practice, Wealth Advisors, in 1984, and he provides financial advice and retirement planning to individuals primarily in southwestern Louisiana. He also owns a tax practice and insurance firm.
He was previously affiliated with Royal Alliance, one of the Osaic broker/dealers that has been consolidated, for 26 years.
Last year, Advisor Group rebranded itself as Osaic and is consolidating its eight legacy broker/dealers into the new brand; the firm plans for all of them to be integrated by the middle of next year. Late last year, Osaic announced it would acquire Lincoln National Corp.’s $108 billion wealth business.
Venable’s move is the latest in several departures from Osaic, including Bice Wealth Management and Equity Design Group, which managed about $130 million and $520 million, respectively.
