(Reuters) - Independent brokerage LPL Financial has hired eight new advisors who manage about $200 million in client assets in Massachusetts, the firm told Reuters.
Advisor John Napolitano, chief executive of the Braintree, Mass.-based U.S. Wealth Management LLC, joined LPL last month, along with seven other advisors at his firm, which is now affiliated with the Boston-based brokerage.
Napolitano, who has spent roughly two decades in the advising industry, had previously been registered with Lincoln Financial Securities Corp.
Advisors George Clarke, Thomas Morrone, Michael Alexander, Max Kolbrenner, Gary Oman, Timothy McCarthy and Michael Velazquez also joined Napolitano from U.S. Wealth Management.
U.S. Wealth has 16 offices in Massachusetts, Connecticut, California, New Jersey, Kentucky and South Carolina.
LPL Financial, a wholly owned subsidiary of LPL Investment Holdings Inc, had a total 12,799 advisers at the end of September, a 6.5 percent increase from the year prior.
LPL is the largest provider of technology and investment services to its self-employed broker-dealers. The firm said in early January it would be acquiring Fortigent LLC, a firm that provides investment services and practice-management advice to high-end financial advisors.