LPL welcomes $170M veteran advisor

investmentnews.com:

LPL Financial has expanded its network in the Northeast – and has once again cut into Ameriprise’s talent pool – by bringing onboard a seasoned financial advisor in North Carolina. The firm said Philip Nation, who now operates under LPL Financial’s broker-dealer and RIA custodial platforms, has aligned with Founders Financial Alliance. He reported managing approximately $170 million in assets at his former firm.

Having begun his career in 1987, Nation’s expertise spans from insurance to education planning and debt management, though he has pivoted his focus towards retirement planning in recent years.

 “I enjoy helping my clients preserve and manage their wealth and better position their income so they can live comfortably in their retirement,” he said in a statement, emphasizing his commitment to his clientele.

Despite having nearly four decades of industry experience, Nation has no immediate plans to retire. “People retire to find more time to do the things they love, but I love and enjoy what I do,” he said.

In addition to the freedom to “[not] push company-branded products,” he said his decision to join LPL was influenced by the desire to provide a better service framework for his clients and to integrate into a larger, supportive team.

“With this move, I have built-in, localized support from a great service organization in Founders, freeing up my time for specific value-added activities that benefit my clients,” Nation said.

“It is an honor and a privilege to have an advisor with 38 years of experience and vast qualifications affiliate with our hard-working team,” said Tom Porter, founder and executive chairman of Founders Financial Alliance.

Nation’s move is reflective of the succession crisis in the wealth