LPL lands father-daughter advisor pair from Morgan Stanley
The independent wealth giant adds the two breakaway advisors, who managed roughly $290M at the wirehouse, in Washington DC.
LPL has bolstered its advisory footprint in the Northeast yet again as it welcomes a multigenerational advisor duo from Morgan Stanley.
On Monday, the firm announced the addition of James Zack and Amanda Zack, a father-daughter advisory duo, to its employee advisor division.
The pair, who reportedly served approximately $290 million in advisory, brokerage, and retirement plan assets from Morgan Stanley, have established The Zack Wealth Group as they join LPL’s Linsco unit.
Jim Zack, a seasoned financial advisor based in Washington, D.C., said his nearly 40-year career in the industry – which includes stops at UBS, Wachovia Securities, and Prudential – began with early fascination with the stock market, which he attributes to reading the stock market section of newspapers during his youth.
“We take a service-oriented, client-centered approach to helping people preserve and manage their wealth, build their legacy and pass their wealth to future generations,” he said in a statement.
Amanda Zack, who joined her father’s practice eight years ago, has observed the growth and development of the business firsthand. The Zacks have built their advisory practice on strong client relationships and a deep commitment to service.
The Zacks’ decision to move to Linsco by LPL was driven by the desire for greater flexibility and the opportunity to operate as true partners.
“Our team is very family-focused, so it’s important that we build a business where we can truly put clients’ best interests first and maintain their portfolios without corporate influence, just like if they were our own family,” Jim Zack said.
Linsco offers employee advisors access to LPL’s integrated wealth management platform and comprehensive business resources. This includes support from an experienced branch management team, a dedicated marketing consultant, a technology consultant, and a service team.
The most recent breakaways to join LPL via the Linsco route in June include an ex-Ameriprise advisor trio in Michigan and a California-based multigenerational team from Merrill Lynch.
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