LPL picks up $640 million Stofan Agazzi Investments

Stofan Agazzi Investments, a firm serving $640 million of client brokerage and advisory assets, is joining LPL Financial's broker-dealer and registered investment adviser platforms. President Mark Stofan launched the firm as a broker-dealer in 1987. In 2013, he joined Wintrust Investments, the Chicago-based wealth management division of Wintrust Financial, according to BrokerCheck.​ Mr. Stofan and Wintrust did not immediately respond to requests for comment. Rich Steinmeier, LPL Financial managing director and president of the business development division, said in a statement that Stofan Agazzi "recognized that we have the stability to serve as a long-term partner to their firm and their clients." The addition marks the second largest pickup by LPL this week. LPL announced Tuesday it lured Wellesley Financial Partners, a firm with $400 million in assets, away from Cadaret Grant. (More: LPL loses $325M firm to Commonwealth, picks up $400M firm from Cadaret Grant) However, LPL also lost Daley Financial Partners, a $325 million firm, to Commonwealth Financial Network.