LPL Financial and Private Advisor Group Welcome Global Advisor Group

LPL Financial and Private Advisor Group Welcome Global Advisor Group

March 02, 2020

LPL Financial

“We believe the partnership with the Private Advisor Group, combined with the innovative capabilities at LPL, will help us continue to elevate service to our clients and create future opportunities to grow the practice and expand into new markets.” – James Barnette

CHARLOTTE, N.C. – March 2, 2020 – LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced that Global Advisor Group has joined LPL Financial’s broker-dealer and hybrid registered investment advisor (RIA) platforms, aligning with Private Advisor Group, LPL’s largest third party provider of supervisory responsibilities and one of the fastest growing RIAs in the nation. The Global Advisor Group reports having served approximately $610 million in brokerage and advisory assets*. They join from Raymond James Financial Services.

Founded by industry veteran and CEO James Barnette, CFP®, Global Advisor Group provides financial planning and wealth management services to high net worth individuals, international institutions, educators and administrators and business owners in all 50 states and 106 countries across the globe. The 22-member team includes 14 licensed financial advisors, many who hold CERTIFIED FINANCIAL PLANNER™ and Chartered Financial Analyst designations, as well as registered Client Service Associates.

Based in Reston, Va., just outside Washington, D.C., Barnette and team have experience in a variety of financial areas, including portfolio management, retirement planning, tax planning, education funding and estate planning. Many of the advisors, including Barnette, travel worldwide throughout the year to meet with clients. “Many of our clients have complex financial planning needs, and our team is committed to serving them with the utmost integrity and objectivity,” said Barnette, who has been repeatedly recognized by Barron’s, Financial Times and Forbes as a top advisor.

Elevating client service

“The move was made with clients in mind and as a way for the firm to control its own destiny,” said Barnette. “We believe the partnership with the Private Advisor Group, combined with the innovative capabilities at LPL, will help us continue to elevate service to our clients and create future opportunities to grow the practice and expand into new markets. We have a very specialized practice, and LPL’s flexible platform and customizable solutions, especially those in its Model Wealth Portfolio (MWP), will allow us to design customized models with the benefit and efficiency of a centrally managed platform. It’s exactly what we need for our client base.”

“We welcome James and the entire Global Advisor Group team to the Private Advisor Group family,” said Pat Sullivan, managing director and co-founder of Private Advisor Group (PAG). “We look forward to providing James and his team the tools, support and oversight required to help growing, complex firms like Global Advisor Group remain compliant in this ever-changing regulatory environment. Leveraging the strength of LPL’s platform and our oversight, James and his team will benefit from the combined value and strong partnership between LPL and PAG.”

Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, said, “We welcome Global Advisor Group to the LPL family and congratulate Private Advisor Group on growing its network of quality financial professionals. LPL understands that every client is unique. By providing financial professionals with access to a broad range of non-proprietary products and investment platforms like MWP, we strive to empower them in their delivery of personalized strategies through a technology platform that makes money management easy. We are committed to leveraging our size and scale to help advisors grow, and we look forward to building value with the Global Advisors Group team and in our enduring PAG partnership.”

Read about other firms that recently joined LPL in the LPL Financial News and Media section of LPL.com.

 

About LPL Financial

LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker-dealer**. We serve independent financial advisors, professionals, and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.

About Private Advisor Group

Private Advisor Group’s mission is to help advisors grow their business by providing a suite of services that enables them to stay focused on their clients. In 2019, PAG was ranked #3 on Barron’s Top 50 RIA firms and named as one of the fastest-growing firms by WealthManagement.com. Founded by advisors John Hyland and Pat Sullivan, PAG has quickly become an industry standard for advisors seeking independence.  The firm has grown to over $19 billion in assets under management (AUM), while supporting more than 650 advisors as of December 31, 2019. For more information, visit www.privateadvisorgroup.com.

Securities and Advisory services offered through LPL Financial, a registered investment advisor. Member FINRA / SIPC.

Global Advisor Group, Private Advisor Group and LPL Financial are separate entities.

Model Wealth Portfolios (MWP) are centrally managed fee-based portfolios constructed by LPL Financial Research. Investment choices include mutual funds and exchange-traded products (ETPs). The portfolios benefit from ongoing monitoring, rebalancing, and tax management services implemented by the LPL Financial Overlay Portfolio Management Group.

*Based on prior business and represents assets that would have been custodied at LPL Financial, rather than third-party custodians. Reported assets and client numbers have not been independently and fully verified by LPL Financial.

**Based on total revenues, Financial Planning magazine June 1996-2019

Barron's Top 1200 Advisors award is based on assets under management, revenue produced for the firm, regulatory record, quality of practice and philanthropic work.

2019 Financial Times 400 Top Financial Advisers minimum criteria: Financial advisors managing at least $300 million in assets and more than 10 years’ experience.  Selected based on six criteria including: assets under management, asset growth, compliance record, experience, credentials and online accessibility.

The Forbes Best-In-State Wealth Advisor ranking, developed by SHOOK Research, is based on in-person and telephone due diligence meetings and a ranking algorithm that includes: client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including: assets under management and revenue generated for their firms. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK Research receives a fee in exchange for rankings.