LPL Financial has added two advisory practices from Northwestern Mutual in the Salt Lake City area, bringing roughly $1 billion in combined client assets to its platform. The announcement, made Tuesday, marks the fourth advisor-team recruitment disclosed by LPL in as many weeks, underscoring the firm's aggressive push to capture advisors in motion.
Cornerstone Advisors and Clear Pointe Wealth Management, which share a longstanding personal and professional relationship, are joining LPL's broker-dealer, registered investment advisor, and custodial platforms. The two teams, both focused on retirement-stage clients, business owners, and professionals, will operate from a shared office while maintaining their separate brands.
Cornerstone Advisors is led by Gardner Brown and Brian Lifferth, who have worked together since 2004. Their practice emphasizes planning ahead of retirement rather than product-driven advice. "Financial planning has always been at the center of our practice," Brown said in a statement. "For more than 30 years, we've helped clients navigate the decisions that come with retirement and major life transitions." The team also includes Lexie Sorensen, John Call III, Daniel Brown, Jennie Frey, and Alexis Rowley.
Clear Pointe Wealth Management, led by Ron Hunt and Jonathan Groberg since 2005, divides responsibilities along complementary lines: Groberg handles investment research and manager due diligence, while Hunt oversees planning and client strategy. "Our process starts with listening and building a comprehensive plan," Hunt said. "From there, we focus on implementation, helping ensure clients strategize and put strategies in place to support a successful retirement."
The double-team addition extends LPL's recent recruiting momentum. Earlier this month, the firm lured a Kansas-based advisory trio from Wells Fargo Advisors Financial Network, a billion-dollar-plus duo from UBS in Santa Fe, New Mexico, and a former RBC trio that joined LPL's Linsco channel in Minnesota. These moves follow a strong second quarter, during which LPL reported $25 billion in recruited assets and net income of $379 million, up 39% year over year.
CEO Richard Steinmeier highlighted the firm's recruiting success on its July earnings call, noting that traditional markets added approximately $23 billion in assets during Q2. "We continue to expand the depth and breadth of our recruiting pipeline," he said. The firm's technology investments also remain a key draw. In late July, LPL unveiled Latitude, a unified technology experience integrating data infrastructure, cybersecurity, artificial intelligence, and client-facing applications. The company said it has invested nearly $2 billion in the core pillars undergirding Latitude, with plans to add more than 35 major tech enhancements this year.
LPL's recruiting streak is part of a broader trend across the independent broker-dealer space. Rival firms such as Osaic and Prospera have also been active, while LPL, Raymond James, and NewEdge have added teams managing nearly $1 billion combined. The competition for experienced advisors remains intense, with firms leveraging technology, payout structures, and support services to attract talent.
For LPL, the addition of Cornerstone and Clear Pointe strengthens its presence in Utah, a market where the firm has been steadily expanding. The two teams' shared office arrangement is expected to foster collaboration while preserving their distinct client service models. As LPL continues to roll out Latitude and other enhancements, it aims to position itself as the platform of choice for advisors seeking a blend of independence and institutional support.
