Industry Moves

LPL Nabs FA Team With $650M from Cetera

LPL Financial says it’s scooped up a large team of financial advisors from Cetera Financial Group.

Maitland, Fla.-based Synergy Wealth Alliance, which includes office of supervisory jurisdiction manager and financial advisor Christopher Bordner and15 more financial advisors, has joined LPL broker-dealer and corporate RIA platforms, according to a press release from the company. The team managed around $650 million in brokerage and advisory assets at Cetera, LPL says.

One reason Synergy joined LPL is for the support the company provides for growing the firm, as Bordner wants to double the size of his practice every 36 months, according to the press release.

Cetera poached a team of advisors from LPL in December. But overall, LPL has been aggressively luring advisors from rivals during the past few months. Earlier in February, LPL added a father-and-son team of advisors who managed $385 million at Raymond James and a $225 million team from SagePoint Financial, part of the Advisor Group network of broker-dealers.

In 2019, LPL grew its advisor ranks by 355, ending the year with 16,464.


Curi Capital Taps Ex-RMB Capital Exec for CEO Role

Curi Capital says it has appointed Dimitri Eliopoulos as its new CEO.

In his new role, Eliopoulos will oversee the organization formed in 2019 when Curi joined forces with MAI Capital Management, a 50-year-old RIA based in Cleveland with more than $7 billion as of the end of last year, according to a press release from Curi.

Curi was founded as Medical Mutual Insurance Company of North Carolina in 1975 and serves physicians.

Eliopoulos was previously partner and president of wealth management at Chicago-based RMB Capital, which he left last month.

Eliopoulos’ appointment follows several recent hires at Curi, including Mark Paccione, the firm’s chief investment officer and chief operating officer; wealth planning expert Frances Cronlund; and Joe Dillon, managing director of retirement plan solutions, Curi says.


Shepherd Kaplan Krochuk Expands in Washington D.C.

Shepherd Kaplan Krochuk says David Perlin has joined the independent RIA as a senior advisor and plans to open a new Washington, D.C. office for the firm.

Perlin, who has been in the financial services industry for 35 years, is founder and CEO of RIA Pearl Investment Partners, according to a press release from SKK. Before that, he was a managing director at Goldman Sachs, where he co-managed the international equity division and held senior roles at Morgan Stanley, HSBC and First Boston, the press release adds.

"David has a highly-regarded reputation for thought leadership within the investment community and is a terrific complement to our existing business,” SKK co-founder David Shepherd says in a statement.

"When I considered combining forces with a larger RIA, I immediately thought of SKK as an aspirational destination for me and the clients of Pearl Investment Partners,” Perlin says in a statement. “The team’s unique capabilities in both wealth management and asset management bring extraordinary investment options to our high net worth and family office clients."

SKK says it has more than $6 billion in AUM.