A team of financial advisors from Northwestern Mutual with about $420 million in advisory, brokerage and retirement plan assets has joined LPL Financial’s broker-dealer, corporate registered investment advisor and custodial platforms, according to an announcement today from LPL.
The Patterson Group & Steve Owings, which includes John Patterson, Steve Owings, Joe Patterson and McKee Nunnally, has aligned with Fairfield, N.J.-based Bleakley Financial Group, an existing large enterprise serving LPL-affiliated advisors, which has 16 offices across 13 states.
John Patterson and Owings have been with Northwestern Mutual for more than two decades, according to their BrokerCheck profiles. Patterson started there in 1994, and Owings in 1998.
The team will establish a new Bleakley office in Atlanta, where the advisors will continue their wealth management practice, serving the needs of executives and business owners. They specialize in legacy and philanthropic planning for ultra-affluent families across the country, the release said.
Patterson said Bleakley’s vision, along with the advisor support model they have built, align perfectly with how the team wants to engage with clients and run their practice going forward. “Additionally, LPL has been a terrific partner to Bleakley Financial, and I’m excited to have access to the expansive set of resources available for our clients. Our team recognizes and appreciates the flexibility of LPL and our ability to run an independent practice where clients come first,” he said in a statement.
“As our practice has evolved, so have the needs of our clients. Ultimately, we are confident that this transition will enable us to improve our ability to serve our clients and offer greater customization for the unique needs of every family we support,” added Owings.
Andy Schwartz, co-founder and principal of Bleakley Financial, said they are excited to partner with Patterson, Owings and the rest of the Bleakley Atlanta team. “We are confident that the great financial planning work they do today for clients will only be enhanced by accessing the expanded support services and open architecture investment platform available through our affiliation.” We look forward to a successful and mutually beneficial partnership with the group for many years to come.”
“LPL advisors can count on us to continuously invest in innovative capabilities and robust resources designed to help them differentiate their business and win in the marketplace,” said Scott Posner, LPL executive vice president of business development. “We congratulate Bleakley for growing its network of quality advisors, and we look forward to supporting John, Steve and their entire team for years to come.”