LPL Financial has recruited a McAllen, Texas-based team with $500 million in client assets, the second practice to join LPL from Ameriprise Financial this week.

Strategic Insights Financial Planning Group was founded in 1986 by Arthur Hughes, who has been associated with Ameriprise for 37 years. The team also includes managing partners James Credo and James Enriquez and advisors Alexis Villarreal and Leonardo Chang.

One of the reasons the team chose LPL was a desire to market their brand outside of Ameriprise's franchise system and build content more easily, Enriquez said. The team also expects this move to improve the efficiency of their offices and marketing resources.

“We are no longer a single firm, and we hope that we can be a 100-year-old firm with a unique brand and culture,” Enriquez said in a statement. “By joining LPL, we have access to LPL's integrated platform with single sign-on and self-cleaning capabilities. We can use the planning software of our choice, which gives us the ability to upload tax returns within the same system.”

The practice also hopes to expand its footprint and bring on additional advisers, and they believe the LPL partnership will make it more attractive to potential recruits.

The move comes after yesterday's news that LPL added a team of three advisors in Louisville, Ky. with $300 million in client assets, also from Ameriprise. Last week, Matthew Edwardsa consultant based in Sarasota, Fla. with $210 million in assets, moved from Ameriprise.