Private Advisor Group, the largest branch of LPL Financial, has hired Abby Salameh as part of the units senior executive team as it expands its advisory services.
The group serves independent RIAs, regulated by the SEC with their own compliance officer, hybrid RIAs, which have advisory businesses through LPLs corporate RIA, Private Advisor Groups RIA, or an outside RIA, along with traditional brokerage advisors, who do commission-based business.
Salameh will be responsible for managing marketing and communication efforts as well as conferences and events for PAG and its more than 400 advisors.
At a time where independent advisors are struggling to be on their own, Private Advisor Group provides the individualized support advisors need, backed by the premier independent broker-dealer in the industry, Salameh said.
According to Salameh, independent advisors coming from the wirehouse world are used to having technology in place and leveraging the infrastructure created by the firm. When you become independent you become your own business owner, so you now have to worry about a host of other things, such as hiring staff, finding an office, determining technology, and compliance oversight of your business, said Salameh. Many newly independent advisors have chosen to lean on firms like Private Advisor Group and their custodians or broker-dealers for greater support.
Increased regulation over the last five years has also encouraged many independent advisors to move toward an outsourced model for their compliance and supervisory oversight. This enables them to worry about aspects of their business they should be worried about, like growing their business or servicing their clients -- and leave the compliance to the experts, Salameh said.
Salameh has spent the last two years in senior executive roles for Fusion Advisor Network, a producer group of NFP Advisor Services Group. Most recently, she was senior vice president of NFP Advisor Services Group and managing director of Fusion Advisor Network. Prior to that, Salameh spent five years providing independent strategic and tactical consulting for Pershing, Symmetry Partners, and InvestmentNews. Earlier in her career, Salameh was head of marketing for TD Ameritrade Institutional.