A Wexford, Pa.-based firm that managed about $400 million in advisory, brokerage and retirement plan assets at Cambridge Investment Research has exited the firm to rejoin LPL Financial, according to a news release.
Individual Financial Services, led by financial advisor Neil Pettes, had been with LPL for six years before leaving in 2015 to join Raymond James Financial Services. The team moved to Cambridge in January 2022, according to BrokerCheck.
Pettes, who began his career in 1995 with FSC Securities Corp., joined Individual Financial Services in 1996. The firm was founded in 1971 by Martin Mancuso, who in recent years has taken on more of a consulting role in the firm, the release noted.
The firm, which offers a broad range of comprehensive financial planning and investment services to small business owners, professionals and individuals nearing, or in, retirement, is also supported by financial planning assistant Matthew Wiley, client service associate Meghan Trosky and operations associate Cheryl Pettes.
LPL’s “culture shift” in recent years and its investment in innovative technology and tools were main attractions for the team’s return to the firm, the release noted.
“Every decision we make as a company is with our clients in mind, and that’s why [we] are making this move. It’s a different LPL than we left in 2015, and I’m excited about the company technology evolution that will help us serve our clients more efficiently and effectively,” Pettes said in a statement. “It’s clear that LPL is an industry leader that cares deeply about the success of advisors and their clients. We are excited about the next chapter of our business,” he added.
Scott Posner, LPL’s executive vice president of business development, said, “We welcome Neil and his team back to the LPL community and are glad to support them as they continue to put the needs of their clients first.”