A Pittsburgh-based team of eight advisors with about $440 million in advisory, brokerage and retirement plan assets has left Royal Alliance, part of the Advisor Group network of broker-dealers, to join LPL Financial, according to an announcement today from LPL.
The Monteverde Group was founded 51 years ago by James “Jim” Monteverde, president and CEO. The solo insurance practice gradually morphed into a full-service firm with a multidisciplinary approach to wealth management, financial and retirement planning, and implementation of holistic estate tax planning strategies, the announcement said. In 2001, managing partner Craig Shensa joined the firm, implementing an investment committee to manage client assets by using a teamwork approach. They are joined by fellow partners Dan Martin and Wendy Asterino.
Monteverde, who served as president of NAIFA-Pittsburgh and the Pennsylvania Association of Insurance and Financial Advisors, said the firm brought together experienced professionals in all the unique areas of financial planning, and the collaborative approach to serving clients has become a differentiator in the marketplace. “We define our role as advocates on behalf of businesses and families who require specialized financial and advisory services,” he said in a statement.
Shensa said the team chose LPL because of its technology. “We believe LPL is an industry leader that is committed to providing innovative technology solutions, exemplary advisor service and state-of-the-art management programs to help advisors provide objective guidance,” he said, noting that the team especially appreciates the open architecture within the ClientWorks platform. “LPL truly embraces the Monteverde Group’s objective to provide a richer client experience and enhanced depth of talent.”
Scott Posner, LPL executive vice president, business development, said, “We understand what advisors need to run a successful firm, and we are committed to investing in the resources necessary to help them achieve that success.”