According to a press release, a seasoned team of Merrill Lynch advisors have exited to join LPL Financial’s employee advisor model, Linsco by LPL Financial.
The team, which operates as LPL Financial’s Broadway Wealth Management, includes financial advisors Justin Hurd, David Earl Spencer, George Alessandria, Brandy Ebron and Sylvia Jorgensen, as well as client associate Ryan Larragoity. The group has offices in Oakland, California, and Savannah, Georgia.
With over 100 years of collective experience in different segments of the financial services industry, the team “maintains a diverse level of experience and expertise to operate as a full-service company with an emphasis on planning retirement,” the statement said.
Hurd, according to BrokerCheck, began his career at Merrill Lynch in 1986. In a statement, he said the team chose LPL because “essentially we were looking for the best model to serve our clients and grow our practice without any distractions, and aligning with Linsco by LPL allows our business to do just that,” he added, “At LPL, our team can find simple answers and solutions to our business issues while enjoying the autonomy to build our brand and our business in our daily work. ”
With the exception of Ebron, the advisers have all been with Merrill Lynch since the start of their careers, according to BrokerCheck. Spencer started in 2008 and Alessandria in 2003; Jorgensen started with the firm in 2006. Ebron started with Morgan Stanley in 2001 but left soon after for Merrill Lynch, where she remained for four years before joining Citigroup Global Markets in 2005. She joined Merrill Lynch in 2006.
Spencer said the transition to the LPL went smoothly. “LPL’s focus on the ability of advisors to build a valuable business on their own terms is perfectly aligned with our business goals. With this move, our team can streamline processes and minimize the time we spend on administrative work. We are also impressed with LPL’s open architecture, which gives us the flexibility to explore new technologies and capabilities,” he said.
Scott Posner, executive vice president of business development for LPL, noted that “Linsco advisors get the best of both worlds (support and security) without worrying about administrative operations.” He added that LPL is proud to support LPL Financial’s Broadway Wealth Management team and looks forward to a lasting partnership.