Two former Northwestern Mutual advisors have aligned with Financial Advocates as part of LPL Financial’s broker-dealer platform, as well as its corporate RIA and custodial platforms, according to a release from LPL.
Scott Dudley and David McQuade, who had been providing wealth management services at Northwestern for about 25 years, managed approximately $200 million in brokerage and advisory assets, the release said.
Based in a new office space in San Diego’s Symphony Towers, the duo has launched a new brand, Stirling Financial Group. They are assisted by three office support members.
Dudley said the change allows them to serve clients with more robust investment strategies at a lower cost. “LPL’s integrated technology allows us to operate much more efficiently; some tasks that once took 10 to 15 minutes now take only two minutes,” he said in a statement. “The online account portal and client statements are greatly improved and create an enhanced experience for our clients.”
Additionally, he said the team benefits from an extra layer of compliance support and concierge service from Financial Advocates. Based in the Pacific Northwest, Financial Advocates provides support to advisors as they transition to an independent broker-dealer, a hybrid RIA, or pure RIA model to achieve greater independence.
Angela Vlach, president and CEO of Financial Advocates, said the firm is proud to partner with Stirling Financial Group and looks forward to supporting its independent practice for years to come. “Our team has extensive experience transitioning advisors across the spectrum of independent business models. Each firm is unique, and we will work with Scott and David to create an independent business that fits their needs,” she said.
LPL Financial, headquartered in Fort Mill, S.C.; San Diego; and Boston, is the nation’s largest independent broker-dealer.