MORRISTOWN, N.J., Nov. 21, 2016  /PRNewswire/ -- Private Advisor Group, a 10+B Registered Investment Advisor and LPL Financial's largest enterprise¹ announced today that another successful advisor has joined the ranks. JBL Financial Services, Inc., a financial advisory firm located in St. Louis, MO with over 100M in AUM has partnered with Private Advisor Group to leverage the support and services of a large hybrid RIA.

"Private Advisor Group is a great move for us," said Jeffrey Lapidus, principal of JBL Financial Services.  "By coming to PAG from National Planning Corp, we immediately gain a wider selection of products and services for our clients. At the same time, we are joining a community of advisors that benefit from the scale and backbone of both PAG and LPL."

The other 68 advisors have joined Private Advisor Group from Merrill Lynch, Waddell & Reed, Morgan Stanley, MetLife, Mass Mutual and more. PAG has seen an inflow of RIAs and independent broker-dealers that want to benefit from increased economics by outsourcing efficiencies and compliance.

Charlie Latimer, Director of National Recruiting commented, "This was an interesting case for us. Jeff and his daughter, Erin, spent considerable time evaluating the landscape and truly had a blank canvas to design the next leg of their career. They could have gone anywhere, including launching and operating their own RIA, but then they met us and the decision became easy. That is, to enjoy the true independence and economics the RIA model has to offer, but align with a partner that handles all of the compliance and regulatory infrastructure."

Media Contact: 
Abby Salameh
Abby.salameh@privateadvisorgroup.com 
Phone (973)-867-1354      

About Private Advisor Group
Private Advisor Group (PAG) is a hybrid solution that supports independent financial advisors throughout the U.S., providing superior customer service, in-depth risk management and forward-thinking solutions. Advisors are supported by the industry's largest independent broker-dealer – enabling them to efficiently run their businesses and stay focused on serving their clients' needs. Private Advisor Group is based in Morristown, N.J., and, as reported by PAG, serves more than 600 financial advisors and serves $10B in assets, as of June. 30, 2016. For more information, please visit www.privateadvisorgroup.com.

About LPL Financial
LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), is a leader in the retail financial advice market and served $502 billion in advisory and brokerage assets as of September 30, 2016. LPL is one of the fastest growing RIA custodians and is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine June 1996-2016). The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 independent financial advisors and over 700 financial institutions, enabling them to help their clients turn life's aspirations into financial realities. Advisors associated with LPL also serviced an estimated 45,000 retirement plans with an estimated $129 billion in retirement plan assets, as of September 30, 2016. LPL also supports approximately 4,200 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have more than 3,200 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.

¹Based on advisor headcount and revenues, 2015

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SOURCE Private Advisor Group