Christopher Sweeney has established his independent practice, Sweeney Wealth Advisors in Toledo, Ohio, and joins LPL Financial’s broker-dealer and corporate RIA platforms, according to a press release from LPL.
Sweeney previously managed around $125 million at Ameriprise, offering financial planning services to individuals and families as well as small-business retirement plans, LPL says.
“I appreciate the independence and transparency offered at LPL. I’m able to create my own brand as I grow my company, and yet I have access to a competitive array of money management platforms,” Sweeney says in the press release. “Because LPL doesn’t own insurance companies or mutual funds, I can be fully transparent in the services I provide as I help my clients work toward their financial goals.”
LPL grew its advisor ranks to 16,439 by the end of the third quarter, a surge of 188 from the previous quarter, and it’s continued luring advisors from rivals ever since. In October, LPL nabbed several practices collectively overseeing more than $1.5 billion from Royal Alliance, Woodbury Financial Services and FSC Securities, three of the broker-dealers on the Advisor Group network, as well as advisors from JPMorgan, Cadaret, Grant and 1st Global. Two LPL-aligned OSJs also added practices.
Ameriprise, meanwhile, lured several brokers from Merrill Lynch and at least one advisor from Wells Fargo in October. In the third quarter, Ameriprise said it recruited 96 advisors but its ranks stood at 9,930 advisors, compared to 9,951 in the previous quarter and 9,933 in the third quarter of 2018, as reported.