LPL Financial (LPLA) said early Tuesday that a hybrid RIA firm with about 40 practices and $1.2 billion in assets has become affiliated with LPL's broker-dealer and custodial services. (It formerly used Securities Service Network for its securities trading and National Financial Services as its custodian.)
The Householder Group of Scottsdale, Ariz., which includes about 50 affiliated advisors, says it hopes the LPL relationship will help it add 50 more offices to its network next year and expand to 175 offices nationwide over time. It has many offices in the West, South and Southeast and would like to expand in the Northeast.
"The Householder Group engaged in a search process that went on for over year and spoke to 50 broker-dealers to narrow its search down," said Bill Morrissey, head of business development at LPL Financial, in an interview with ThinkAdvisor. "We are extremely pleased to welcome them to LPL, and we will provide the group with a great framework for the next phase of its growth and evolution."
CEO Scott Householder, who founded the group in 1997, says the financial planning firm is "excited" to affiliate with LPL Financial for several reasons.
"First, they offer our underlying investment clients online and mobile access to their account values and improved statements and account access," said Househoulder in an interview. "Second, LPL technology is second to none. And third, with increased products and services for retail clients and tremendous resources, LPL will be a great partner for our group for advisors."
