LPL Financial announced Monday that it added Conte Wealth Advisors (CWA), an advisor team based in Camp Hill, Pennsylvania, with about $1.6 billion in advisory, brokerage and retirement plan assets under management (AUM) that had been affiliated with Cambridge Investment Research.
CWA, whose headquarters are located just outside Harrisburg, joined LPL’s broker-dealer and RIA platform on Aug. 18 and will keep its name, an LPL spokesperson told Wealth Solutions Report.
The third-generation family-owned firm is led by financial advisor Tony Conte, who serves as its Managing Partner, according to his LinkedIn profile.
The practice was founded by Sam Conte, Tony’s grandfather, who entered the financial services industry in the 1950s, LPL said. Tony’s father, Frank Conte, later joined Sam’s business and became a Founding Partner of CWA in 2012, according to Frank’s LinkedIn profile.
Joe Henriques, Tony’s brother-in-law, is also part of the practice, serving as Managing Director and Principal Wealth Advisor.
Since taking leadership of CWA in 2012, Tony Conte has overseen the growth of CWA into a firm with 24 advisors and offices in multiple states, LPL noted.
CWA serves business owners, high net worth and ultra-high net worth individual investors and families.
“We treat every client relationship as though they deserve the experience of a Family Focused Office,” Tony Conte said in a news release.
“Our role is to help guide clients toward not only suitable investment strategies, but also suitable financial decisions for themselves, their businesses and often their employees. It’s a comprehensive approach built on long-term relationships and thoughtful planning.”
He added, “We’ve built a culture where advisors can maintain their independence without feeling like they’re on an island. Our advisors genuinely support one another and openly share insights and experiences. That collaboration makes us better advisors and enables us to deliver more effective planning and investment guidance to our clients.”
Conte went on to say, “We want to continue attracting advisors who fit our culture and helping them build successful businesses. LPL gives us the scale, technology and resources necessary to do that. Just as importantly, it provides stability and forward-looking investment in innovation that we believe is essential to serving clients and growing our business well into the future.”
He pointed out that LPL’s due diligence process reinforced his confidence in the move.
“In getting to know Tony, I came to appreciate his genuine care for CWA’s clients and advisors, as well as his thoughtful stewardship of the Conte family legacy,” Marc Cohen, Chief Growth Officer at LPL, said in the news release. “His passion for serving others and the collaborative culture he and his team have built strongly resonate with our values at LPL.”
In addition to its wealth management business, CWA is “actively involved in its local communities and is exploring the creation of a charitable foundation that would empower clients to help direct annual philanthropic giving to organizations making a meaningful impact,” according to LPL.
LPL services and custodies about $2.6 trillion in brokerage and advisory assets, it said Monday. The firm said it supports more than 32,000 financial advisors and the wealth management practices of about 1,100 financial institutions.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
