Three former Capital One advisors have left the bank to join their former colleagues at a independent LPL Financial-affiliated firm founded last year.

Brokers Jarrod Lege, Shelley Moncrief and Rick Schenck, formerly of Capital One, are joining the New Orleans-area firm -- Standard Investment Advisors, which has $140 million in assets under management -- founded last year by advisors Merritt Talbot and Margie Benjamin. Lege and Montcrief together managed $194 million of assets at the bank while Schenck serviced $130 million, LPL said in a statement.

LPL's extensive resources helped Benjamin lure three of her former colleagues, she says. "When you are coming out of the bank channel, you are a little bit nervous that you are going to be alone," she says. "The resources [at LPL] are much more than we had anticipated."

When advisors leave banks, their former colleagues often start checking in about a year later to see how it's going, says Steve Pirigyi, LPL's executive vice president of business development: "The brokers are checking in to see, are they getting enough resources? Are they getting what they expected?"

Benjamin and Talbot say they are now well-positioned to recruit more of their former Capital One colleagues to offices in Abbeville, Lafayette and Mandeville, La. The firm is focused on attracting advisors and advisory firms that serve $75 million to $150 million of assets.

LPL's "platform is impressive, their technology is wonderful and we have a completely paperless office, which is tremendous," Benjamin says. "We all had contemplated over the years of our career of going independent and they made us comfortable making the move."

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