First Summit Capital Management, a Wilmington, Del., advisory team with about $380 million in assets, has moved to LPL Financial from PNC Investments. The team, led by principal owner and Managing Partner Thomas J. Cooney, will join Momentum Wealth Partners, an LPL enterprise.

Cooney has 32 years of experience in the industry; previously, he owned a company in the forest products industry. He is joined by Managing Partner Mark Freed, a former pitcher for the Chicago Cubs and Arizona Diamondbacks, and Director of Operations Vicki Pearce.

The team was drawn to LPL and Momentum for the freedom and flexibility the firms offer. LPL's capabilities and open architecture platform will allow the team to offer more personalized services and investment options to their clients, Freed said in a statement.

“We now have the independence to serve clients as we see fit and put their best interests first,” he said. “We are confident that this move will help us expand the relationships we have with clients and create more opportunities for the families we work with.”

The news follows the addition of three advisers in Lewes, Del., in April, which also moved from PNC to LPL via Momentum. The trio launched Sussex Wealth Partners with about $415 million in assets.

Earlier this week, LPL recruited Danielle Qualls, an adviser with $160 million in assets, from Stifel, Nicolaus and Co. She joined Bergkamp Financial, a women-led firm that is already affiliated with LPL.