LaSalle St. Securities, an independent broker-dealer based in the suburbs of Chicago, added another firm from LPL Financial.
The b-d announced that Trott Brook Financial, an independent RIA in Ramsey, Minn., transitioned from LPL Financial to a new relationship with LaSalle St. In January, LaSalle nabbed three advisors from L&N Credit Union, which is based in Kentucky.
Trott Brook Financial has $125 million in assets under management (AUM), adding to LaSalle’s $9 billion in AUM.
According to the company’s release, the firm has also chosen Fidelity as its custodian.
LaSalle also recruited its sixth advisor team from Securities America in February; First Federal Savings Bank of Champaign-Urbana in Champaign, Ill. manages over $80 million in AUM.
“The word is getting around that we offer a very compelling value proposition for the independent financial advisor,” said Mark Contey, senior vice president of business development at LaSalle St. Securities.