May 25, 2023 • by Karmen Alexander
Integrated Partners, a Waltham, Massachusetts-based registered investment advisory firm that brokers through LPL Financial, has lured away two teams from another LPL-affiliated RIA in Michigan, according to an announcement.
The Bloomfield Hills-based teams, Wealthcare Management Services and JMB Financial Services Group, had managed a combined $650 million in client assets, according to Rob Sandrew, chief growth officer at Integrated Partners. That includes $500 million in advisory assets and around $150 million in brokerage, Sandrew said.
The teams joined Integrated in order to move, “up market with more sophisticated clients and build out infrastructure within their organization,” Sandrew said in an interview.
Wealthcare Management is led by 32-year brokerage veteran David Petoskey and JMB is led by Joshua M. Barron, who has two decades in the industry, according to BrokerCheck.
Both practices had been part of RIA Wealthcare Advisory Partners LLC, a Pennsylvania-based firm that managed $3.9 billion in advisory assets as of December 31, according to its Form ADV filing. Firm officials did not return a request for comment sent through a generic contact form.
In total, 14 staffers will join Integrated from Wealthcare Management and JMB. They would bring Integrated’s assets to almost $16 billion if all funds transfer, Sandrew said. Integrated has around 200 advisors and 170 accountants across 116 offices, according to the release.
Integrated managed $3 billion in assets under management when they joined LPL from Lincoln Financial in 2016 but has been rapidly expanding by hiring and more recently through acquisitions. It in February purchased an RIA, Laurel Wealth Advisors, which added over 30 advisors and more than $2.25 billion in client assets.
