LPL Financial today announced that a father-daughter team that managed $290 million in advisory, brokerage and retirement plan assets at Morgan Stanley has joined its employee advisor channel, Linsco by LPL Financial, to launch the Zack Wealth Group.
Based in Washington, D.C., the team is run by Jim Zack, who joined the industry in 1986 and had been with Morgan Stanley for 13 years, according to BrokerCheck. Amanda Zack joined him in 2014.
“We are a family team committed to helping other families, and it all starts with thorough planning and a deep understanding of our clients’ goals and aspirations,” Jim Zack said in a statement.
The duo chose to partner with LPL because they like the direction of the firm, he said. “We found it’s much easier for us to be a team at LPL, and we appreciate that we have the freedom to run our practice the way we want,” he said. “Our team is very family-focused, so it’s important that we build a business where we can truly put clients’ best interests first and maintain their portfolios without corporate influence, just like if they were our own family."
“With LPL’s unprecedented flexibility and support, more advisors are recognizing the importance of freedom as they seek ways to differentiate themselves and enhance the client experience,” Scott Posner, LPL executive vice president, business development, said in a prepared statement. Linsco “grants advisors true client ownership and the freedom to manage and grow their relationships—and businesses—as they see fit.”