LPL recruits $260 million group focusing on 403(b) plans
A group of financial advisors with $260 million in client assets and a specialty in retirement programs for schools, universities and hospitals, known as 403(b) plans, has jumped from Valic Financial Advisors Inc. to LPL Financial.
The diverse practice is headquartered in Albuquerque, New Mexico, and led by financial advisor Angelo Burns, who had been at Valic since 2011. Valic is owned by American International Group Inc., which sold most of its retail brokerage network, called the AIG Advisor Group, in 2016, but held on to Valic.
The other financial advisors at the firm, which operates as Wealth Management and Legacy Planning Group, are: Manny Pedroza, Larisa Holiday and Eli Montoya. They all registered with LPL Financial last Monday. The team includes staffer Melinda Martinez.
“We specialize in financial education and breaking down complex financial situations to a place where clients can better understand and be more comfortable with their decisions,” Burns said in a statement.
[More: How a former teacher is educating the world about 403(b)s]
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