LPL Financial has brought on a financial advisor team that oversaw $1.6 billion in client assets at Cambridge Investment Research. The Conte Wealth Advisors team, based in Camp Hill, Pa., joined LPL's broker-dealer and registered investment advisor channel Aug. 18, according to registration records. LPL announced the move on Monday.

Cambridge didn't immediately respond to a request for comment on the departure.

Conte is a third-generation practice led by Tony Conte, a Certified Financial Planner, and founded by his grandfather, Sam Conte. Tony's father, Frank Conte, is still with the practice. The team also includes Joe Henriques, a managing director and CFP, who is Tony Conte's brother-in-law.

The practice caters to business owners and high- and ultrahigh-net-worth individuals and families, aiming to provide a high-touch, planning-focused advisory model in the vein of a family office, according to Tony Conte.

"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," he says. "It's a comprehensive approach built on long-term relationships and thoughtful planning."

The Conte practice has been an active recruiter that now includes 24 advisors with offices in multiple states. Conte says it was drawn to LPL for its technology and other resources it offers the advisors on its platform.

The move continues LPL's recruiting campaign, which has seen other recent additions of teams with more than $1 billion in client assets, including a $2 billion practice brought on from PNC Bank, and a $1.5 billion team from MassMutual. On Tuesday, LPL announced the addition of Preferred Financial Group, a $230 million team based in Michigan. The firm has also seen numerous departures of advisor teams that had been affiliated with Commonwealth Financial Network, a smaller rival that LPL acquired last year.

Conte describes its culture as a blend of advisor independence and collaboration, with weekly advisor meetings to discuss client strategies and best practices.

"We've built a culture where advisors can maintain their independence without feeling like they're on an island," he says. "That collaboration makes us better advisors and enables us to deliver more effective planning and investment guidance to our clients."

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