Ex-Raymond James RIA With $2.1 Billion in Assets Joins LPL Financial
Advisers at The Noble Group have joined LPL Financial’s broker-dealer, registered investment adviser, and custodial platforms. They reported having served approximately $2.1 billion in advisory, brokerage, and retirement plan assets and join LPL from Raymond James.
Founded in 1996 by Tom Noble, AIF, The Noble Group is a wealth management firm that offers a range of financial services including corporate retirement plan consulting, financial planning, investment advice, and portfolio management. With a team-oriented business model, the firm serves many high-net-worth families, retirees, and business owners.
Based in Sugar Land, Texas, and with a registered office in Dallas, the team is comprised of nine advisers and 13 support staff members. Noble plans to step away from day-to-day operations, leaving leadership responsibilities to the next generation of advisers. Joey Rose, AIF, who joined the firm in 2011, now serves as president and chief executive officer.
“Whether partnering with clients to develop an effective, efficient and comprehensive financial plan for their families or managing corporate retirement plans, our team is committed to being there to guide clients through the journey – from education to realization,” Rose said.
With LPL’s digital capabilities, integrated platform and comprehensive support services, The Noble Group has strategically positioned itself to provide advisers with the tools and resources needed for success.
“We believe LPL offers us the next level of independence, allowing us to select the financial planning software and resources that are most suitable for our clients,” Rose said. “Today’s clients want and need financial planning, and that’s where advisers can add more value to relationships. We appreciate that LPL provides a blank canvas and the autonomy to create the service model of our choice.”
The Noble Group also said the move to LPL sets the team up for increased recruiting opportunities to grow the next generation of advisers, providing them with the support and resources needed to succeed in this ever-changing industry.
“The culture we’ve created at The Noble Group is phenomenal. It’s truly a place where you can come enjoy your career and grow within the organization, whether you’re a new adviser or someone looking to retire,” Rose said.
LPL said it is committed to providing advisers with ultimate choice and unprecedented flexibility in how they run their business.
Earlier this week, LPL’s board of directors announced it had terminated Dan H. Arnold, president and chief executive officer of LPL, effective immediately for violating LPL’s commitment to a respectful workplace. He also resigned from the board. The board appointed Rich Steinmeier, the company’s managing director, chief growth officer, as interim CEO, also effective immediately.
According to the LPL filing, the board terminated Arnold for cause on the recommendation of a special committee of directors in the course of an investigation by an outside law firm, which found he made statements to employees that violated LPL’s code of conduct.
LPL Financial Holdings Inc. serves nearly 23,000 financial advisers, including advisers at more than 1,000 enterprises and 580 registered investment adviser firms nationwide. Headquartered in San Diego, its total advisory and brokerage assets totaled $1.56 trillion as of Aug. 30, 2024.
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