Cetera poaches $312M team from LPL
Cetera has bolstered its wealth advisor network with the addition of a South Carolina-based financial planning practice.
Regal Wealth Advisors, a practice with more than $312 million in assets under administration, has joined Summit Financial Networks, which is part of Cetera Advisor Networks, a broker-dealer subsidiary of Cetera.
The move, which took effect February 2, marks a significant transition for the Myrtle Beach, South Carolina-based firm, from LPL Financial to Cetera.
Regal Wealth Advisors was co-founded by Michael McCarthy and Andrew S. Pincus, who are coming over to Cetera along with long-time investment professional Fred DaVeiga.
“At Regal Wealth Advisors, we differentiate ourselves by providing personalized attention to our clients – and we know we can expect the same from Summit,” McCarthy said in a statement, expressing enthusiasm about the transition.
McCarthy, a veteran of the industry with 30 years of experience, oversees financial planning, investment programs, and the development of financial strategies including estate and business succession plans.
Pincus uses his deep understanding of financial and tax planning to create holistic financial plans that encompass all aspects of the lives of their clients.
Rounding out the team, DaVeiga uses his experience across multiple finance and accounting sectors to work with individuals, families, and businesses, as well as their trusted tax and legal professionals.
“I am happy to welcome Michael, Andrew and the entire Regal Wealth team to our network of more than 4,000 talented advisors,” said Marshall Leeds, president and regional director of Summit Financial Networks.
Cetera is adding the Regal Wealth Advisors team to its network shortly after it welcomed
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