Winston-Salem, N.C.-based Hege Financial Group joins LPL’s broker-dealer and corporate RIA platforms, according to a press release from LPL. Founded in 1979 by Ed Hege, the firm also includes his son, Will Hege, president, and financial advisors Bill Gribble, Perry Hudspeth and Steven Rubin plus two office support staff, LPL says. The team manages around $275 million, according to the press release.
Part of what drew Hege to LPL was its capabilities for exit planning and acquisitions, as the company is working through a long-term succession plan, LPL says.
“It’s been a phenomenal opportunity to work alongside my father for 16 years,” Will Hege says in the press release. “One of the greatest joys is knowing I will be able to continue his legacy and finish many of the plans he started.”
LPL added 188 advisors in the third quarter, bringing its total ranks to 16,439. The company has continued its aggressive recruiting since then, luring advisors from Ameriprise and Advisor Group broker-dealer firms Royal Alliance, Woodbury Financial Services and FSC Securities, as well as from JPMorgan, Cadaret, Grant and 1st Global. But last month LPL also gave up advisors to Triad Advisors and Kestra Financial.