LPL Financial says it has lured an experienced financial advisor from Morgan Stanley.

Cedar Rapids, Iowa-based Lisa Tesar, a second-generation advisor who followed her father into the industry, has joined Linsco by LPL, the firm’s employee advisor model, as Tesar Group Investment & Financial Planning by LPL Financial, according to LPL.

Tesar oversees around $260 million in advisory, brokerage and retirement plan assets, serving primarily older high net worth clients, LPL says.

She’s joined by Julie Regan, client services associate, and eventually plans to bring on her son, according to the firm.

Tesar’s family advisory business goes back to 1936, LPL says. She started her own financial services industry career in 1999 and had stints at Securities Corp. of Iowa, Wells Fargo and RBC Capital Markets before joining Morgan Stanley in 2012, according to BrokerCheck.

Tesar’s team decided to switch to LPL while searching for “a new partner that offers them the freedom to make their own decisions,” according to the firm.

“We were especially drawn to the Linsco model, which allows us to do everything we could do at a large regional firm, but comes with individualized support and resources,” Tesar said in a statement.

Launched in August 2020, Linsco provides administrative and marketing services, including access to a branch support team, real estate sourcing and website building, with individual advisors retaining the ability to make day-to-day brand and operations decisions.

Morgan Stanley also lost an advisor to Linsco in December. Linsco has also attracted several advisors from Wells Fargo.