$1 billion firm joins LPL Financial

investmentnews.com:

LPL Financial LLC has announced that the advisors of Investment Advisors Financial Group have joined LPL Financial’s broker-dealer, registered investment advisor (RIA), and custodial platforms. According to a company statement, the group, previously with Osaic, manages approximately $1 billion in advisory, brokerage, and retirement plan assets.

Founded in 1979 by Thomas E. Musumeci and headquartered in Eatontown, N.J., Investment Advisors Financial Group comprises a diverse team with expertise in accounting, finance, tax, and investments. The group, led by Musumeci, James Flannery, and Annie Silvestro, Musumeci’s daughter, includes 22 advisors and eight support staff.

Musumeci, with over five decades of industry experience, remains active in the firm as president, providing fiscal advice and mentoring junior advisors. His son, Tom, also a top advisor in the practice, continues the family’s involvement in the business. Recently, the group welcomed a new intern, reflecting Musumeci’s commitment to developing future talent.

“I had the privilege of growing up in the business, and a big part of that was observing the relationships my father formed with a variety of clients,” Silvestro said. “My father created a practice where anyone who wanted help creating and building wealth could get it, regardless of the size of their accounts, and we are proud to continue his legacy today.”

The group’s move to LPL Financial, per the company statement, was driven by a desire for greater autonomy and the goal of enhancing client experiences through integrated technology and comprehensive services.

“At Investment Advisors Financial Group, we are a full-service organization that takes an innovative team approach that aims to help clients