NEW YORK, NY (PRBuzz.com) December 28, 2012 -- Independent financial advisor conglomerate Royal Alliance announced today that it has recruited two teams recently from rival independent broker-dealer and acquired nearly $550 million in assets under management.
The team of Angelo Talebi and Artin Bandari from LPL Financial (LPLA) in Beverly Hills, CA joined Royal Alliance and brought with them roughly $230 million in assets and about $2 million in yearly fees in commissions. Talebi and Bandari also bring more than 20 years of combined financial services experience.
"They were referrals from a Los Angeles-area office," explained Beard. "A long-standing advisor suggested we speak with them. It just so happens that they were looking for a firm with strong technology, rep-centric service, and a boutique-like firm that is focused on supporting and growing high-net-worth practices."
The Beverly Hills team additionally brings with them a wealth of untapped new contacts for Royal Alliance. "Royal Alliance President & CEO Art Tambaro and others, including myself, have made a lot of contact in courting them to the firm and after they made their decision. This experience has been very positive for all of us."
Additionally, Royal Alliance has added a team formally affiliated with National Planning Corp., headquartered in Harrisburg, PA, that brings with it approximately $325 million in assets. The Ranker-Hanshaw Wealth Management brought with it eleven new advisors, as well.
"We were at the bake off," said Beard. "As advisors look for a high-quality broker-dealer, we were a top phone call to make. It was also exciting that, as we recruited them, they were recruiting other advisors at the same time."
Royal Alliance said it has plans to continue to recruit more advisors throughout 2013. "We have a very full pipeline. Over the course of the next months or so, you can expect to see us recruiting a couple more large groups, and we have a very strong pipeline going into the first quarter, as well," said Kevin Beard, senior vice president of Recruiting.
As of mid-November, Royal Alliance accounted for 2,133 the three Advisor Group broker-dealers roughly 4,400 advisors. Advisor group currently has access to approximately $100 billion in assets. In late November, the unit acquired the Woodbury Financial Services independent broker-dealer, formerly owned by The Hartford, and its 1,200 affiliated reps.
About Royal Alliance
Royal Alliance is an industry-top broker-dealer with the resources, capital, and experience of one of America's largest independent advisor networks. Using cutting-edge, in-house Always Open Architecture software, Royal Alliance helps companies to realize their financial potential and to exceed it. Be it the legendary tradition of service you would expect from an industry leader, or the satisfaction of being among experienced and accomplished advisors--with Royal Alliance, the message is perfectly clear. You've arrived.