LPL Nabs $1B LA Metro Team from Osaic

LPL Financial announced that it has recruited John Schlatter, Alec Hoag, Robert Rojano, and Michael Madden – collectively known as Salient Wealth Planning of Manhattan Beach, CA, – with approximately $1B in client assets, into its broker-dealer, RIA, and custodial platforms.

Schlatter founded Salient Consulting Group in 1990 and headquartered in El Segundo, CA, providing wealth management and financial planning services, according to his LinkedIn profile. He eventually moved to Osaic in 2018 and renamed the firm Salient Wealth Planning.

Hoag is currently serving as partner at Salient Wealth and has been with the firm since 2018. Prior to joining Salient Wealth, he was affiliated with Cetera. Rojano comes from Lincoln Financial Advisors where he has provided advisory services since 1999. Lastly, Madden was with Cigna Financial and Lincoln National Life Insurance before jumping to Osaic.

Salient Wealth Planning is the second team this month that made the jump to LPL from Osaic, following Oregon’s Llewelyn Financial Management who has reportedly $320M in client assets, as reported by Dakota on January 8.