A longtime affiliate of LPL that left the broker-dealer in 2016 when its OSJ changed partners is returning to LPL to join its broker-dealer and corporate registered investment advisor custodial platform, LPL announced today.

Nautica Wealth Advisors, which is led by financial advisors Mike Lerner, Steve Lerner and Jayne Byrne, joins from Cetera, where the advisors managed about $250 million in advisory and brokerage assets. The Lerner brothers had been with LPL for more than a decade until 2016.

Also joining them are client service team members Gloria Ruuspakka, Rosa Volk, Kassandra Miller and Rebecca Walker.

The San Diego family-based firm, which was formed in 2010 through the merger of two long-standing financial planning and investment management firms (Wayne Warner & Associates, founded in 1983, and Lerner & Lerner, founded in 1994), helps clients to navigate through all phases of their financial lives, providing financial planning and wealth management services to professionals and multi-generational families, according to the announcement.

In 2010, LPL recognized Wayne Warner, founder of Wayne Warner & Associates, as the firm’s longest tenured financial advisor. He had partnered with LPL for 39 years. Byrne, an associate at the firm, was also recognized for being an advisor with LPL for 30 years.

“Returning to LPL feels like coming home; everyone has been incredibly warm, welcoming and responsive,” Byrne said in a statement. “As we set out to define our growth strategy moving into 2021 and even into 2022, we knew LPL would be the right partner to help us have greater capacity to serve our clients by simplifying processes,” she added.

Steve Lerner said the Covid-19 pandemic gave them a clear picture of what’s working and where things are going. “As the industry changes, we recognized a need to be nimble and do what’s right for our clients. We have been so impressed with LPL’s service transformation and technology evolution, and it’s clear that this new partnership will help us be more efficient and impactful in how we serve our clients,” he said.

Rich Steinmeier, LPL Financial's managing director and divisional president, business development, said LPL is once again honored to earn the advisors’ trust and looks forward to supporting them.