Deals & People August 2, 2012

Kilar Added to Pioneer’s RIA Team

Pioneer Investments expanded its sales team of registered investment advisers (RIAs) by adding a regional vice president and realigning the division that supports the RIA channel.

 

 

Reported by

Brian J. Kilar’s appointment to regional vice president for the RIA channel follows the previously announced 25% increase in the firm’s retail sales team.

“Pioneer has had a longstanding commitment to the RIA market, and we are stepping up our resources to support this market,” said Laura Palmer, national sales manager and head of the RIA team. “The RIA market is one of the fastest-growing market segments for Pioneer, and the changes will help us reach a broader range of customers and provide better support.”

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Kilar covers the Midwest/Southeast region from Chicago. He joins Pioneer from Managers Investment Group in Chicago, where he was RIA vice president and covered the RIA market in the mid-Atlantic and Southeast regions. He earned his bachelor’s from Illinois State University.

In addition, Pioneer has increased the number of regional consultants, who serve as “hybrid” wholesalers, from one to three. Regional consultants split their time between home office support and working with clients in the field, and they each support one of the firm’s three regional vice presidents in the field. Pioneer’s RIA team has eight members, including Palmer and one business development officer.

 

 

 

 

Deals & People August 2, 2012

LPL Financial Adds Advantage Financial to Platform

The independent broker/dealer LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc., announced its affiliation with Advantage Financial Group (AFG).
Reported by

As part of the process, 63 AFG-affiliated independent advisers will transition their securities registrations from their current broker/dealer to LPL Financial, bringing client assets of approximately $2 billion.

LPL Financial will provide practice management, succession planning, marketing and technology solutions to AFG, which is owned by its adviser members who share an equity interest in the firm. 

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AFG will affiliate with LPL Financial under its current producer group structure, and continue to expand under its existing brands and organization. As part of the transition, the LPL Financial RIA platform will become the primary custodian for AFG’s sister company and registered investment advisory (RIA) firm, Advantage Investment Management (AIM), which will continue to provide fee-based solutions to the adviser members of the AFG producer group.

“This transition is the culmination of an innovative plan to create transferable equity value for Advantage Financial Group’s member advisers and their future generations,” said Joe Russo, chairman of Advantage Financial Group. “The transition to LPL Financial successfully concludes an extensive review process for a broker/dealer and custodial partner that will help us preserve and enhance the equity value of the AFG partnership.”

 

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