LPL Financial has scooped up two advisors from the banking channel that oversee more than $1 billion in assets under management.

The nation's largest independent broker-dealer announced early Thursday morning that Grand Rapids, Mich.-based StreamSong Advisors, a newly-formed independent hybrid firm formed by two former advisors from Fifth Third Private Bank, is joining LPL's broker-dealer and custodial platforms. StreamSong was co-founded by Thomas Braun and Bob Boesiger, who both recently held senior wealth management roles at Fifth Third Private Bank. Braun and Boesiger manage more than $1.2 billion in assets, of Dec. 31, 2013, according to LPL officials.

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