LPL Financial has picked up a team of financial advisors from MassMutual Financial Advisors, LPL says.
The newly-named Twenty Four Wealth Management joins LPL’s broker-dealer and hybrid RIA platforms, aligning with Stratos Wealth Partners, an existing firm supporting LPL-affiliated advisors, according to a press release from LPL.
The New York and Fairfield County, Conn.-based Twenty Four was founded by financial planners Anthony Truino and Michael Carbino and CPA John Dougherty, and also includes financial planner Christopher Zapata and seven support staff, LPL says.
The team manages more than $460 million and plans to tap Stratos and LPL for acquisition support, according to the press release.
LPL had a healthy last quarter of 2019 in terms of poaching advisors from rivals, adding several brokers from Advisor Group broker-dealers SagePoint Financial, Royal Alliance, FSC Securities and Woodbury Financial Services, as well as from a broker-dealer on the Ladenburg Thalmann network, which Advisor Group is acquiring.
Since the end of September, LPL has also added advisors from Northwestern Mutual, Ameriprise, Raymond James, two Blucora-aligned firms, JPMorgan and Cadaret, Grant, as well as Lincoln Financial, although it also lost brokers to SagePoint, Cetera Advisor Networks and Cadaret, Grant.