LPL Nabs $1.2B Team From UBS

The Puzzle team focuses on financial planning, estate planning and portfolio management.

The team also includes: David Millington, a certified financial planner who is Puzzle’s president and COO; Steven Connolly, a CFP who is its CIO, CCO and controller; Robert A. Davit, managing director; Karoline O’Connor, senior director of business development; Alexander W. Klaas, wealth advisor; Christopher J. Sagan, a wealth advisor who also has the CFP designation; Kathleen Miller, director of operations; Mark Gorman, director of trading; and Nicholas Shealy, operations.

“Our goal is to deliver a differentiated experience, not only to our clients but also to other advisors who will want to join Puzzle,” according to Millington. “We will take the pieces to their financial puzzle and coordinate them in a way to improve efficiencies, so that they can go enjoy the gift of more time. On top of that, the experience will be articulated clearly to them and help give them confidence to know what was accomplished.”

After a lot of research and due diligence, the team chose to partner with LPL and Gladstone in its move to independence, LPL said.

“We believe LPL has the most diverse and flexible custodial platform, coupled with innovative technology that can be customized for our team’s unique needs,” according to Klaas. “We chose Gladstone’s partner model because it provides an additional layer of support and resources,” he said. “They have a tremendous network of advisors and an experienced team that is aligned with our goals and growth plans. We look forward to expanding throughout the greater Chicago region.”

LPL now has more than 18,000 financial advisors, total advisory and brokerage assets of $958 billion and 450 independent RIA firms across the U.S., it says.

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