LPL Financial today announced that a former Ameriprise team in McAllen,Texas, that handled about $500 million in advisory, brokerage and retirement plan assets has joined its broker-dealer, RIA and custodial platforms.

This marks the third team in recent days that has exited Ameriprise for LPL. The teams collectively have added more than $1 billion to LPL’s platform.

Strategic Insights Financial Planning Group, which includes five advisors, was founded in 1986 by Arthur Hughes, who that same year joined Ameriprise. He also was with IDS Life Insurance Company from 1986 to 2006, according to BrokerCheck. The other team members are managing partners James Credo and James Enriquez, and advisors Alexis Villarreal and Leonardo Chang.

Credo, who began his career with Ameriprise in 2006, said in a statement that the group caters to clients ranging from small business owners to healthcare workers to retirees. “Whether our clients seek financial stability, wealth accumulation or legacy planning, we strive to deliver the most efficient and effective roadmap to aid them on their financial journey,” he said.

“We’re no longer a one-man firm, and it’s our hope that we can be a 100-year-plus firm with a unique brand and culture,” said Enriquez, who began his career with Edward Jones in 2010 and moved to Ameriprise in 2017. “By joining LPL, we have access to LPL’s integrated platform with single sign-on and self-clearing capabilities. We can use the planning software of our choice, which gives us the capability to upload tax returns within the same system."

The addition of Strategic Insights Financial Planning Group from Ameriprise follows yesterday’s announcement that Somnio Wealth, a four-member Louisville, Ky-based team with $300 million in advisory, brokerage and retirement plan assets, also made the move from Ameriprise. On April 2, Matthew Edwards of Sarasota, Fla., moved over with $210 million in advisory, brokerage and retirement plan assets.

“We serve to empower advisors, providing them with industry-leading tools, innovative capabilities and technology that streamline how they operate and reduce complexities," Scott Posner, LPL executive vice president, business development, said in a prepared statement.