A $1.2 billion super OSJ decides to stay with LPL

Advisors Southeastern Alliance, a super OSJ overseeing 70 advisers and $1.2 billion in brokerage and advisory assets, said that it is remaining with LPL Financial, which bought the parent company of its broker-dealer, INVEST Financial Corporation. Along with National Planning Corp., INVEST is one of the broker-dealer units of National Planning Holdings, which LPL acquired last August. Advisors Southeastern Alliance, formed in 2001 and based in Duluth, Ga., will be one of the largest offices of supervisory jurisdiction at LPL. The formal transition to LPL will take place on Feb. 16, INVEST said in a release.