Washington Wealth Management has bolted LPL Financial after about a year and a half to join large independent broker-dealer NFP in what it says is a bid to attract more wirehouse breakaways.
Terms of the deal were not disclosed, but Washington Wealth CEO Robert Bartenstein said NFP's deep pockets would help the smaller firm buy more advisors out of their expensive wirehouse contracts, at prices starting at about $200,000. To get those folks unlocked requires capital, Bartenstein says. We need a reliable and aggressive capital partner.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access