LPL Financial\u2019s effort to revive its broker recruiting efforts gained momentum last week as it reeled in a team managing $1.6 billion at Cambridge Investment Research in Pennsylvania.<\/p>\n
Camp Hill-based Conte Wealth Advisors is led by Anthony M. Conte and includes his father, Frank A. Conte, and brother-in-law, Joseph C. Henriques, according to an announcement on Monday. The practice, which joined LPL on August 18, was founded by Conte\u2019s grandfather, who started in the industry in the 1950s, and Anthony Conte took it over in 2012.\u00a0<\/p>\n
Initially registered with Prudential Securities, the Conte Wealth team moved to Mutual Service Corporation in 2005 operated their own RIA between 2006 and 2009, when they moved to Cambridge.\u00a0<\/p>\n
The practice includes 24 advisors and offices in Camp Hill, York, Hershey and Lansdale, Pennsylvania, and Fort Myers, Florida, according to an archived version of their website.<\/p>\n
Conte Wealth is focused on expanding through the recruitment of \u201cgrowth-oriented\u201d advisors, and touted in the announcement LPL\u2019s size, technology and resources as \u201cessential\u201d to achieving their goals.<\/p>\n
\u201cThe level of support we\u2019ve received throughout this transition has been remarkable,\u201d Anthony Conte added. He started his career with Prudential in 2004, according to BrokerCheck.\u00a0<\/p>\n
A Cambridge spokesperson did not immediately respond to a request for comment. The firm has around $283 billion in assets under advisement and 4,100 brokers, according to its website.\u00a0<\/p>\n
LPL, the largest independent broker-dealer by its approximately 32,500 advisors, recently claimed success<\/a> in its efforts to bolster recruiting efforts<\/a> after spending much of last year focused on the retention of advisors tied to its August 2025 purchase<\/a> of Commonwealth Financial Network.\u00a0<\/p>\n In April, LPL\u2019s senior recruiter stepped down<\/a>, and his responsibilities were reassigned internally. LPL also recently landed teams from D.A. Davidson<\/a>, MassMutual<\/a> and U.S. Bank<\/a>. It has announced 16 other hires this year that had $500 million or less in assets or no AUM reported.\u00a0<\/p>\n It also bought Mariner Advisor Network<\/a>, which added 367 advisors and $31 billion in assets to its brokerage and custody channels.<\/p>\n At the same time, LPL has continued<\/a> to experience fallout<\/a> from the Commonwealth transition and has also lost teams to firms like Summit Financial<\/a>, Cetera and Raymond James.<\/p>\n