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LPL, Edward Jones Lose FAs to Advisor Group Broker-Dealers

May 8, 2019

Firms on the Advisor Group network of broker-dealers have lured three women-led teams collectively overseeing $250 million, according to news reports.

Woodbury Financial Services has added Avon, Minn.-based Black Financial Services, led by Margo Scepaniak, WealthManagement.com writes, citing Advisor Group’s announcement at its W Forum conference this week. Black Financial was previously affiliated with LPL Financial, according to the web publication.

In addition, FSC Securities has added Santa Maria, Calif.-based Wayfinder Wealth Management, led Teri White, WealthManagement.com writes. Wayfinder Wealth was previously affiliated with Edward Jones, according to the web publication. Also joining FSC is Ft. Worth, Texas-based Haber Wealth Management, led by Tricia Wood, WealthManagement.com writes. Haber Wealth was previously affiliated with Rhodes Securities, according to the web publication.

Advisor Group also announced a grant program offering coaching or continuing education to female advisors and registered assistants, WealthManagement.com writes. Advisor Group’s women’s advisory board will provide one-on-one mentoring as well as up to $5,000 each to 10 fellows as part of the program, according to the web publication.

“I’m a strong believer that it will never be enough for our industry simply to hire more women,” Valerie Brown, executive chairman of Advisor Group, said at the conference, according to WealthManagement.com. “We must empower women who enter the financial advice profession, and give them the career development opportunities they need to flourish and make a major impact on their companies and the clients they serve.”

By Alex Padalka
  • To read the Wealth Management article cited in this story, click here.