LPL retains $4.3 billion at The Planners Network

The association of small advisers had been affiliated with the recently-acquired NPC.

The more than 75 advisers who constitute The Planners Network—and manage, administer or advise on more than $4.3 billion in assets—have individually decided to stay with LPL Financial.

Most of TPN’s advisers operate as single-person or small offices. The shops were formerly affiliated with National Planning Corporation. LPL acquired the assets of NPC’s parent, National Planning Holdings, in August. NPH also operated three other broker-dealers.

(More: LPL and NPH: The biggest teams to flee the merger.)

TPN was formed 18 years ago by advisers at NPC who joined to create scale in business operations and to provide opportunities for professional growth through educational programs and networking resources.

The collective is managed by a board of directors and a chief operating officer, Kären Locklin, who works on behalf of the firms in the group.