LPL Financial has gained two new, independent practices with a total of $670 million in assets under management, the firm announced recently.
Financial advisor Brian Nydegger has launched an independent practice, Point 32 Investment Partners, based in Westhampton, N.Y., that will affiliate with LPL Financial through its Strategic Wealth Services model, which provides support for independent, breakaway advisors. Nydegger and his team were previously with RBC Wealth Management.
Point 32 Investment Partners also includes Corinne Heaney, director of client services, and Sean Sullivan, client services associate. The firm, which has $420 million in assets under management, works with high-net-worth individuals and small businesses and concentrates on socially responsible investing.
Humanity Wealth Advisors has joined LPL Financial’s broker-dealer, hybrid registered investment advisor, and custodial platforms, through the Financial Services Network, an existing LPL firm. The Humanity team, which was previously with Wells Fargo Advisors, has approximately $250 million in advisory and brokerage assets.
Founder Harry Sherdil and associate advisor Nestor Belmonte have offices in San Ramon and Newark, Calif.