LPL Financial (LPLA) said Friday that it recruited a team with $650 million in assets formerly with SII Investments, part of National Planning Holdings, a network of independent broker-dealers affiliated with Jackson National Life.
MACRO Consulting Group, based in Parsipanny, N.J., includes five financial advisors and is led by Mark Cortazzo. The wealth-management team has its own asset-management program which includes wrap portfolios based on ETFs.
"We are delighted to welcome MACRO Consulting Group to the LPL Financial broker-dealer and hybrid RIA platforms," Bill Morrissey (left), executive vice president of business development at LPL Financial, in a statement.
"Over the years, the leaders of MACRO Consulting Group have built their firm into a true industry leader in every respect," he added. "Their decision to affiliate with LPL Financial is part of a broader trend of success we have experienced in attracting large and highly sophisticated teams of advisors to our company, driven by the unique integration of broker-dealer, custody and clearing capabilities that we offer."
