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LPL Loses $10 Billion Retirement Group to Triad Advisors

By Alex Padalka January 9, 2019

Retirement plan-focused advice firm Retirement Benefits Group has joined Triad Advisors and Resources Investment Advisors, according to Triad.

San Diego-based RBG has more than $10 billion in assets under administration, which includes those in fee-based and brokerage accounts as well as plan-based client assets, according to a press release from Triad.

The company’s 68 advisors and staff offer consulting and guidance to retirement plan sponsors, serving more than 580 retirement plans, as well as private client wealth management services, from 15 offices across the country, Triad says.

RBG was previously affiliated with LPL, according to ThinkAdvisor.

RBG will continue operating under its own brand and leadership structure, according to the press release. The companies did not disclose the terms of the deal.

"Our new affiliation with Resources Investment Advisors and Triad Advisors presents our group with opportunities for accelerated growth by providing plan sponsors and plan participants with the support they need to meet their goals,” Sean Ciemiewicz, RBG’s principal, says in the press release.

Atlanta-based Triad is a wholly-owned subsidiary of Ladenburg Thalmann Financial Services that serves independent hybrid advice practices and RIAs, according to the press release.

Resources Investment Advisors, meanwhile, is a retirement plan-focused hybrid RIA and office of supervisory jurisdiction firm based in Overland Park, Kan., whose roughly 160 advisors advise more than 2,100 corporate retirement plans with around $36 billion in assets, Triad says.

Resources Investment Advisors’ representatives also oversee over $3 billion in the firm’s wealth management business, according to the press release.

Triad has poached several large practices from rivals in recent months. In October, Triad nabbed an $850 million advice practice based in Wormleysburg, Pa., from Wells Fargo.

LPL, meanwhile, also lost a $750 million advice practice based in Woburn, Mass., to Triad in May.