LPL Financial said Monday it added a father-son advisor team in California who handled about $1.2 billion in advisory, brokerage and retirement assets while with Morgan Stanley.
The wirehouse didn't immediately respond to a request for comment about losing the advisor team to LPL.
The family-focused office and independent practice that Burke and Christopher Francis launched, called Francis Group at LPL, chose to affiliate with LPL's supported independence model, LPL Strategic Wealth Services.
Since 1966, Burke Francis built his Los Angeles area practice by specializing in asset management for high-net-worth clients. Chris joined the business in 1998, after working in real estate development and various venture-backed companies.
Burke and Chris are now managing partners of The Francis Group, which says it works on behalf of affluent families, corporate executives, businesses and private investors throughout the U.S. who require comprehensive and sophisticated investment advice.
Feedback from their clients inspired them to make a change to offer more white-glove, family-focused office service experiences, and their due diligence led them to LPL Strategic Wealth Services, the companies said.
