PRESCOTT, Ariz. - Financial advisor Steve Schott has joined LPL Financial's broker-dealer and RIA platform, bringing approximately $240 million in assets, according to a press release.
Schott moved from Cambridge Investment. LPL's stock trades at $269.85, near its 52-week low, with a market cap of $21.61 billion and revenue of $17.84 billion.
He is the owner and CEO of Schott Financial Management, a third-generation business operating for 40 years in Prescott, Arizona. Schott has been with the firm since 2012 and purchased it six years ago.
The firm focuses on retirees and pre-retirees. The support team includes Laura De La Huerta, LPL registered assistant, and Jessee Porter, investment assistant.
"Our approach is simple - we focus on balancing risk and return, with a strong emphasis on generating reliable income for our retired clients," Schott said. He cited LPL's self-clearing platform and technology as reasons for the move.
Marc Cohen, chief growth officer at LPL Financial, welcomed Schott and his team. LPL supports over 32,000 financial advisors and approximately 1,100 financial institutions, servicing about $2.3 trillion in assets.
