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FUNDRAISING NEWS | August 23, 2024

LPL Snags 30 FAs From Lincoln Financial

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LPL Financial has recruited 30 financial advisors from Lincoln Financial’s former wealth unit, which was acquired by Osaic earlier this year. The advisors, from two teams formerly affiliated with Lincoln—Academy Financial and PFG Advisors—had managed around $4 billion in advisory assets. 

Academy Financial, based in Lutherville, Maryland, was founded in 1992 by Harry Horn and is now led by partners Brent Kvech, T. Joseph Barger, Michael Leonard, and Michael McFeeley. Although Horn retired in 2022, he remains a consultant and partner emeritus. All four current leaders had spent their entire careers at Lincoln. 

PFG Advisors, located in Berwyn, Pennsylvania, is led by Tyler McCraw and Steve Morris, who have 17 and 24 years of industry experience, respectively, mostly with Lincoln. The two practices will merge and operate under the Academy brand at LPL. They chose LPL for its enhanced operational capabilities and tools that enable more efficient portfolio management and personalized client advice.

Osaic completed its acquisition of Lincoln's $115 billion wealth business in May, but numerous advisor teams, including these, have left Lincoln for LPL and other firms following the announcement and closing of the deal.

To view the press release, click here.

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Written By: John Washington, Data Research Analyst

John Washington is the Data Research Analyst at Dakota.

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