Integrated Partners, a registered investment advisor and office of supervisory jurisdiction of LPL Financial, has added its third partner firm of the year with family-run RIA Albritton Financial Services, based in Creve Coeur, Mo.
Albritton, which has $100 million in assets under management, was previously part of Carson Partners, which it joined in 2019.
The firm is led by Neal Albritton, the son of founder Kevin W. Albritton, who started the company in 1996. Neal’s wife, Allyn Albritton, is chief of staff. They are joined by two other team members: Eric Beeler, servicing advisor, and Jennifer Lederman, relationship manager.
“Our firm has always prioritized delivering an exceptional client experience, and Allyn and I recognized that to continue growing strategically, we needed a partner that could match that commitment,” Albritton said in a statement.
Through the partnership, Albritton will keep its brand but move to Integrated’s Form ADV. The firm will have access to Integrated Partners’ planning center, investment platform, and CPA Alliance, a network of more than 200 CPAs.
“They are very planning and very growth oriented,” said Rob Sandrew, chief growth officer at Integrated. “It’s a young team that is looking to get to the next level …. We are looking to help them really accelerate their game to go up market.”
Sandrew said Integrated has historically drawn advisors from independent broker/dealers. More recently, however, the firm has seen more full RIAs, or advisors from RIAs, looking to join.
“We’ve definitely seen a pickup of more IARs of RIAs, or full RIAs looking to tuck into our organization,” he said. “I’d say a fair number of our opportunities in the pipeline right now are in those two categories.”
Sandrew said the current market volatility can be a positive for Integrated, or firms like it, as advisors are looking for “leaders” in the space to provide guidance and encouragement.
“When the market goes up, people are willing to endure a lot of pain,” he said. “When we see what we’re seeing now, a lot of the gaps in a platform, or a parent RIA, those gaps tend to be exacerbated, and in many cases, it might bleed down to the client base.”
Earlier this year, Integrated announced that Retirement DNA and Prout Financial Design had joined its network. The Waltham, Mass.-based RIA currently has more than $21 billion in assets under advisement and management.