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Private Advisor Group
Private Advisor Group is redefining what it means to be independent. We empower financial advisors with the freedom to build their business, their way—backed...
Private Advisor Group
Private Advisor Group is redefining what it means to be independent. We empower financial advisors with the freedom to build their business, their way—backed by a powerful platform, expert support, and a community that puts people first. Whether you're looking to grow, scale, or transition your practice, our flexible affiliation options, leading technology, and advisor-first mindset are designed to meet you where you are—and take you where you want to go. Join a firm that supports your independence, amplifies your impact, and helps you thrive in every stage of your journey. Securities offered through LPL Financial. Member FINRA/SIPC www.FINRA.org/www.SIPC.org. Investment advice offered through Private Advisor Group, a registered investment advisor and separate entity from LPL Financial. For a list of states in which we are registered to do business, please visit www.privateadvisorgroup.com. Third party posts found on this profile do not reflect the views of LPL Financial and have not been reviewed by LPL Financial as to accuracy or completeness.
General information
Firm type
Bank / Wealth / Trust
Year founded
1997
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Morristown
Corporate office
Lincolnshire, IL, United States
Principals
Frank Smith
CEO
Frequently asked questions
What regulatory structure does Private Advisor Group use, and how does it differ from a corporate RIA?
Private Advisor Group operates as an office of supervisory jurisdiction (OSJ) under the LPL Financial broker-dealer umbrella. This means the firm carries compliance and supervisory responsibility for the advisor practices on its platform — client-facing advisors operate their own branded businesses but Private Advisor Group signs off on advertising, correspondence, and transaction supervision. This is structurally distinct from a corporate RIA, where the firm employs advisors directly and controls the entire client relationship.
How does Private Advisor Group source its advisor talent?
Recruitment centers on experienced advisors leaving wirehouse or captive broker-dealer environments who want independence with compliance infrastructure in place. The firm does not acquire other practices en masse or run a large aggregator model; instead, it adds individual teams through organic recruitment, with recent additions including a Florida-based team in early 2024.
Does Private Advisor Group make direct investments or manage proprietary funds?
No. Private Advisor Group does not operate a proprietary fund-of-funds, a direct-investment program, or an in-house asset management division. The advisors on its platform make independent allocation decisions for their clients, typically using third-party managed accounts, mutual funds, and ETFs accessed through the LPL Financial platform.
Who holds the client relationship — the individual advisor or Private Advisor Group?
The individual advisor practice owns and maintains the client relationship. Private Advisor Group provides the supervisory framework, compliance oversight, and technology stack, but the end-client contracts and branding reside with the local advisory practice. This is a defining feature of the OSJ model and a key reason advisors join rather than building their own standalone RIA from scratch.
Is Private Advisor Group active in institutional or family-office asset management?
Its core business is retail wealth management, serving mass-affluent and high-net-worth individuals through independent advisor practices. The firm does not market itself as an outsourced CIO for family offices, nor does it have a dedicated institutional asset-management division. Some individual advisor practices on the platform may serve family-office-like clientele, but that occurs at the practice level, not centrally.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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