LPL Financial today announced that it has hired a former PNC Investments team in Wilmington, Del., that previously managed some $380 million in advisory, brokerage and retirement plan assets. The team has joined LPL’s broker-dealer, RIA and custodial platforms, according to a news release.

The PNC team, now known as First Summit Capital Management, has aligned with Momentum Wealth Partners, an existing firm supporting LPL-affiliated advisors. The team is led by principal owner and managing partner Thomas J. Cooney, a 32-year industry veteran who has been with PNC for two decades, according to BrokerCheck. He is joined by managing partner Mark Freed, a former professional baseball player who has pitched for the Chicago Cubs and the Arizona Diamondbacks minor league teams and has been with PNC for eight years. They are supported by the director of operations, Vicki Pearce.

The team provides a range of personalized investment strategies and comprehensive financial planning services, the release noted. “Our mission is to empower clients to navigate their financial journey with clarity and confidence. We believe in building meaningful relationships based on trust, integrity and transparency, providing straightforward and honest guidance to help clients make informed decisions with a sense of assurance,” Cooney said in a statement.

“We are excited to join LPL Financial to gain access to their robust capabilities, open architecture platform and streamlined business solutions that enable us to offer more personalized services and a broader range of investment options,” added Freed.

Freed was a ninth-round draft pick by the Cubs in 2000, and played for the Eugene Emeralds and High A Daytona Cubs, according to an online bio. He was traded to the Diamondbacks, where he pitched for their affiliate Triple-A team, the Tucson Sidewinders, in 2004 and 2005.

Freed further noted that the First Summit team will “now have the independence to serve clients as we see fit and put their best interests first. We’re confident this move will help us expand the relationships we have with clients and create more opportunities for the families we work with.”

Momentum Wealth Partners’ managing partner and co-founder Doug Frank said the team truly represents Momentum’s philosophy, which is to “cultivate a success-driven mindset, encouraging advisors to improve their practices and commit to outstanding client service.”