California-headquartered RJL Wealth Management has launched a registered broker-dealer, a strategic move which the firm said it has been planning since 2007.

RJL already has a relationship in place with the brokerage First Allied Securities, and most of its investment advisor representatives are also registered representatives of First Allied.

However, it has now launched Lucia Securities, which will be led by Michael Castillo as chief compliance officer. He has previously worked at firms such as American Express, PaineWebber, UBS International and Arrowhead Credit Union.

Going forwards, RJLWM and First Allied will continue their joint marketing initiative, and First Allied’s asset management team will continue to act as a sub-advisor to several of RJLWM’s managed portfolios.

Lucia Securities’ clearing relationship is with RBC Correspondent Services.