Winthrop Wealth Management announced the launch of its independent hybrid registered investment adviser, or RIA, with $1.3 billion in assets under management as of August.
Winthrop left LPL Financial's corporate registered investment advisory company to form its own RIA, WealthManagement.com reported. LPL will serve as Winthrop's custodian.
As part of the hybrid RIA, Winthrop also launched an independent advisory practice acquisition platform, Empower Advisor.
Winthrop is an independent wealth advisory based in Boston.