LPL Financial Adds Level Four Group

Level Four Group, an independent adviser group, has affiliated with the LPL Financial broker/dealer and hybrid registered investment advisory (RIA) platforms. 

Level Four Group will utilize the LPL Financial RIA platform as its principal custodian through its independent RIA firm, Level Four Advisory Services LLC. As part of this move, Level Four, which has close to $1 billion in client assets, is transitioning approximately 50 licensed independent advisers.

The wealth management industry is going through a period of significant change, including the trend of financial advisers increasingly seeking independence and the growing movement, already dominant in many countries throughout the world, toward providing financial advice on a fee-for-service basis, said Jake Tomes, chief executive of Level Four.

“We believe more of our advice will be priced on an hourly basis, on a project basis, or as part of a package of services,” Tomes said. “This shift also parallels a movement toward providing clients with a comprehensive suite of services, as in a family-office environment, wherein the client can receive not only wealth management but tax, estate planning, insurance and other financial consulting services.” 

Level Four has established systems that position the firm to grow in this new industry landscape, Tomes said. “Our transfer to LPL Financial will be instrumental in attracting talented independent advisers who share our vision for growth and who wish to advance their own practices to the next level,” he said. “Viewed within this context, LPL Financial, in our opinion, is simply the strongest independent broker/dealer.  Its tools and resources provide independent advisers with the quality support they need, while its powerful brand image is also a potent draw for its platform. At the same time, LPL Financial offers Level Four the flexibility we require to accommodate both our business model and the spectrum of independent adviser models that we support.”

“We are delighted to welcome a large, successful and sophisticated independent adviser group such as Level Four Group and its affiliated advisers to the LPL Financial broker/dealer and hybrid RIA platforms,” said Bill Morrissey, executive vice president of business development at LPL Financial. “We look forward to helping Level Four Group reinforce its position as an emerging industry leader, and align our resources around the firm’s unique business model within the advisory space.”

Level Four Group, in Plano, Texas, provides business development and operational support to accounting firms and financial professionals seeking to create a holistic financial services offering. More information is available at

LPL Financial LLC is an independent broker/dealer with headquarters in Boston; Charlotte, North Carolina; and San Diego, California; and a wholly owned subsidiary of LPL Financial Holdings Inc.