$2B Ohio Team Joins LPL From Fifth Third Private Bank

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An Ohio-based advisory duo with astir $2 cardinal successful lawsuit assets is joining LPL Financial from Fifth Third Private Bank, the autarkic broker/dealer announced today.

Breanne Bovara and Derrick Petry are launching Moto Wealth Partners wrong Linsco, LPL Financial’s W-2 advisor affiliation model. The duo works with high-net-worth and ultra-high-net-worth individuals and families from offices successful Cincinnati and Dayton, Ohio. 

According to SEC and FINRA records, Bovara registered with Fifth Third successful 2017, portion LinkedIn indicates Petry joined Fifth Third successful 1999 and yet reached the presumption of vice president, elder portfolio manager. 

According to Bovara, the squad supports clients “through periods of change, affectional challenges and analyzable decisions—whether related to concern transactions, inheritance, divorce, vocation transitions and more.” Bovara said the squad wanted independency and fiduciary flexibility erstwhile looking for a caller home.

“LPL provides the operational state and blase tools we request to elevate the lawsuit experience,” she said. “Their level gives america entree to cutting-edge technology, integrated readying resources and a robust lawsuit engagement ecosystem.”

Earlier this month, LPL and Wealth.com announced a strategical relationship, making the property readying level disposable to each of LPL’s advisors and wealthiness teams (as good arsenic a nonstop integration allowing LPL’s Advanced Planning Team to access Wealth.com’s Family Office suite for analyzable property readying challenges).

LPL is continuing to enactment done its acquisition of Commonwealth, the Waltham, Mass.-based IBD with 3,500 advisors and $305 cardinal successful assets nether management. LPL closed connected the woody past August and intended to clasp 90% of advisors successful the transition. 

As of past year’s 3rd quarter, LPL CEO Rich Steinmeier said LPL had retained Commonwealth advisors representing astir 80% of the firm’s assets. 

Analysts astatine Wolfe Research recovered that attrition from LPL slowed by December, with Raymond James the biggest beneficiary of departing Commonwealth reps (followed by Kestra and Cambridge Investment Research).