Securities America says it has recruited an all-female hybrid RIA firm with $446 million in client advisory and brokerage assets and four advisors: Financial Focus, based in Carlsbad, California.
The team used to be affiliated with National Planning Corp., which was acquired by LPL Financial in August.
According to Securities America, Financial Focus was founded by female advisors in 1984 to "support the financial planning needs of women clients across all ages, with more than 50% of the firm's business driven by fee-based advisory services."
"We knew we wanted a partner that was friendly to independent RIAs," said Barbara Williams, co-founder of Financial Focus, in a statement. "That was an absolute."
In addition, the team wanted to affiliate with "a firm that wasn't too large and had an appreciation for the mission of supporting women clients across the country. Securities America is known for its support of true independence among advisors and respects our business model," Williams said.
"At Securities America, we empower our women advisors through educational resources, conferences and networking events tailored just for them," said Janine Wertheim, senior vice president and chief marketing officer for Securities America, and president of Securities America Advisors, in a statement.
"We also have one of the highest percentages of female licensed representatives in the country. Financial Focus will find a strong, supportive community of women advisors who really get what they do and why they do it," Wertheim explained.
Meanwhile, RBC Wealth Management said it recently recruited two teams from wirehouse firms.
