With approximately $120 million in advisory, brokerage and retirement plan assets, Wisconsin-based father/daughter advisory duo Thrivent Investment Management is joining LPL Financial, the independent broker/dealer announced Monday.
Father/daughter Robert Viau and Liz Mango run Northern Lakes Financial Group based in Burlington, Wis. The team includes Kamrin Nardini as a customer support specialist.
Viau and Mengo have nearly 35 years of collective experience in the industry, and provide a wide range of services including retirement planning, life insurance, mutual funds and charitable giving solutions.
According to Viau, the team needed a new partner to maintain the continuity of its business and maintain control of its internal succession plan, and ultimately decided on LPL because of its technology platform and service offerings.
“We’re proud of our customers’ trust, and we always want to make sure we’re providing them with the tools that can help them not only reach, but make the most of, their goals,” said Viau. Said in testimony.
Last week, LPL also announced two new associations with Lynsco, the broker/dealer employee advisory model, which was originally launched in 2020. LPL welcomed Beltway Wealth Management, with consultant Gary Edmonds and business management associate Andy Change departing from UBS. The team is based out of Washington, DC and manages approximately $360 million in client assets.
Together, Beltway works with high-net-worth individuals, nonprofits, corporate executives and business owners in the DC area, with more than 40 years of total experience specializing in investment and wealth strategies. According to Edmunds, the team spoke to several firms looking for partners but settled on LPL because of their technical offerings.
“We took this step strategically to gain greater freedom and ownership of our practice and, in turn, be more firmly positioned to provide additional services to our customers,” Edmunds said in a statement.
Earlier last week, Lisa Tesser, a Cedar Rapids, Iowa-based advisor who manages about $260 million in client assets, joined Lynsco from Morgan Stanley. She is Head of Taser Group Investment and Financial Planning; She succeeded her father in the business, which started in 1936. She works primarily with older high-net-worth clients and specializes in retirement income.
Taser works with Client Services Associate Julie Regan and hopes to onboard her to succeed in the business. She appreciated that Lynsco would help her maintain her brand name while meeting some of the tough business operating demands.
“The fact that we have to steer our ship and grow at our own pace is huge,” she said.