LPL independent advisor Heath Haynes of Haynes Investment Management has purchased John Marshall & Associates from retiring owner John Marshall.
Upon completion of the sale, Marshall & Associates left Cetera Advisor Networks and joined LPL Financial LLC, Haynes’ platform.
Marshall founded his eponymous firm on January 4, 1973.
Rich Steinmeier, LPL managing director and divisional president, business development, welcomed Marshall & Associates to his firm’s platform.
“We understand what advisors need to build a successful firm, and we are committed to investing in the resources necessary to help them achieve that success,” he said.
Although Marshall is selling his firm, he will continue to counsel clients as part of the LPL platform. Marshall and fellow advisors Daniel Sickles and Sean Goldney bring approximately $185 million in client brokerage and advisory assets to LPL.
Marshall said a key reason he chose to move his business to LPL Financial was having access to LPL’s succession resources and support to ease the inevitable transition of his business.
“After 51 years it’s time for me to retire,” Marshall said. “I will see the group through the transition and I am confident that my successor, Heath Haynes, with his longevity and stability, will provide the firm with a partner for continued success.”
Marshall & Associates is based out of Lake Havasu, Ariz.; LPL Financial is headquartered in Boston; and Cetera Advisor Networks is headquartered in El Segundo, Calif.