First Summit Capital Administration, an advisor staff in Wilmington, Del., with about $380 million in belongings, has jumped to LPL Monetary from PNC Investments. The staff, led by principal proprietor and Managing Associate Thomas J. Cooney, will be part of Momentum Wealth Companions, an enterprise of LPL.
Cooney has 32 years of expertise within the trade; beforehand, he owned an organization within the forest merchandise trade. He’s joined by Managing Associate Mark Freed, a former participant for the Chicago Cubs and Arizona Diamondbacks minor league programs, and Director of Operations Vicki Pearce.
The staff was drawn to LPL and Momentum for the liberty and adaptability the companies present. LPL’s capabilities and open structure platform will enable the staff to supply extra customized companies and funding choices to their purchasers, Freed mentioned in a press release.
“We now have the independence to serve purchasers as we see match and put their greatest pursuits first,” he mentioned. “We’re assured this transfer will assist us broaden the relationships we’ve got with purchasers and create extra alternatives for the households we work with.”
The information follows the addition of three advisors in Lewes, Del., in April, who additionally moved from PNC to LPL by way of Momentum. The trio launched Sussex Wealth Companions with about $415 million in belongings.
Earlier this week, LPL recruited Danielle Qualls, an advisor with $160 million in belongings, from Stifel, Nicolaus and Co. She joined Bergkamp Monetary, a women-led agency that’s already affiliated with LPL.
