At a glance
- Terms were not disclosed, and the amount of the $1 billion that has transferred to LPL was not given.
- The undisclosed transition and payout terms are the key comparison for a founder weighing a similar platform switch, because LPL's Oct. 13, 2026 Form ADV lists $819 billion in regulatory assets and 2.85 million accounts.
- Separately, Osaic said ICG next, a Wall Township, N.J. firm led by managing partner James Costabile with about 21 advisors and $2.3 billion in client assets, joined its network from LPL Financial.
Dave Burnett moved Prince Financial Services, a Seattle ensemble with about $1 billion in client assets, from Northwestern Mutual to LPL Financial, InvestmentNews reported.
Terms were not disclosed, and the amount of the $1 billion that has transferred to LPL was not given. The five-person practice was founded by Burnett.
The undisclosed transition and payout terms are the key comparison for a founder weighing a similar platform switch, because LPL's Oct. 13, 2026 Form ADV lists $819 billion in regulatory assets and 2.85 million accounts.
Separately, Osaic said ICG next, a Wall Township, N.J. firm led by managing partner James Costabile with about 21 advisors and $2.3 billion in client assets, joined its network from LPL Financial.
Osaic said the firm chose it after evaluating several major firms, citing access to senior leadership, support for recruiting and acquisitions, and the ability to operate on the Fidelity National Financial Services platform.
The firm Osaic recruited is more than twice the size of the team LPL added.
Reported by the Moves desk from InvestmentNews, Osaic newsroom and SEC Form ADV via IAPD. Published . Corrections