LPL Adds $390M Father-Son FA Team from MML – Financial Advisor IQ

LPL Financial has added an advisory team that served roughly $390 million in assets at MML Investors Services to its network, the firm says.

Sterling Wealth Group, based in Melville, New York, joined the firm’s broker-dealer, corporate registered investment advisor and custodial platforms, according to LPL. Sterling also opted to align with LPL enterprise JFC Advisor Network.

The firm is led by Robert Sterling Madden and his son Michael Sterling Madden and focuses on long-term financial planning, including retirement planning, LPL says. The firm’s digital offerings were a major reason for the move, according to the elder Madden.

“We looked at technology capabilities, breadth of investment options, research and resources before concluding that LPL’s integrated platform is simply unrivaled,” Bob Madden said in a statement. “We also appreciate the family environment and added support provided by JFC.”

Bob Madden spent 25 years at MML before moving to LPL, and he launched his financial services career at G.R. Phelps & Co in 1986, BrokerCheck records show. Michael Madden previously worked multiple stints at MML, the longest of which was 2007 to 2021. He started his career there in 2001, according to BrokerCheck.

Outside the firm, Bob Madden, a Naval Academy graduate and former Surface Warfare Officer, is the co-founder and president of Cost of Freedom, a company dedicated to teaching the values of honor, courage and commitment to future generations, according to LPL. Each year, the company hosts wounded warriors and injured Marines for a weekend held at the Army-Navy football game.