Registered investment advisor Macro Consulting has moved to LPL Financial's broker-dealer and RIA platforms, company officials said.

Macro Consulting, led by senior partner Mark Cortazzo, has $650 million in assets under management and five advisors, and is based out of Parsippany, N.J. Macro moves to LPL Financial from SII, one of the independent broker-dealers of Jackson National, the insurance company.

LPL Financial officials say that a key driver in Macro Consulting Group's growth over the years has been its wrap portfolios platform, principally comprised of ETFs. A wrap portfolio usually refers to a professionally managed portfolio where the client is charged a flat annual fee for everything. 

"Over the years, the leaders of Macro Consulting Group have built their firm into a true industry leader in every respect," Bill Morrissey, executive vice president of business development for LPL Financial, said in a statement.

-Jim McConville