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RIA & Broker Dealer Roundup: May '24 Rep Movements, M&A Deals and Emerging Players

Hello

The registered investment advisor (RIA) industry remains a hotbed of activity, with significant developments reshaping its landscape every month. FINTRX, the leader in family office and RIA data intelligence, has compiled a new monthly series 'RIA & Broker Dealer Roundup' to examine the latest happenings in the RIA sector, highlighting notable advisor transitions, strategic mergers, acquisitions and the introduction of new firms throughout May 2024. 


Quick Hitters: Recent Developments in Wealth Management

Rockefeller Expands in NC: Rockefeller Capital Management recruited Adam B. Landau and Ramy Georgy from Morgan Stanley in Charlotte, NC, managing $1.4 billion in assets.

UBS Broker Joins LPL: Matthew J. Sheffield, managing $275 million in assets, left UBS for LPL Financial's Strategic Wealth Services channel.

J.P. Morgan Hires Merrill Team: A Merrill Lynch team in LA, managing $28 billion, joined J.P. Morgan Advisors, led by Eric Gray and Lance Polverini.

Raymond James Adds Wells Fargo Team: A Wells Fargo team managing $900 million in assets joined Raymond James in St. Petersburg, FL.

Rockefeller Bolsters Roster: Rockefeller recruited two teams from Morgan Stanley and Merrill Lynch, managing $1 billion and $500 million respectively.

LPL Adds Cetera Duo: LPL Financial recruited Darryl Carter and Lance Dumas from Cetera Financial Group, managing $225 million, and running Cornerstone Financial Advisers.

Corient Grows in VA: Corient added Gregg Konopaske and John Langford from KFA Private Wealth Group in McLean, VA, managing $784 million. 

Barnes Returns to Merrill: Kevin E. Barnes rejoined Merrill Lynch in San Francisco, managing $300 million in assets.

Stifel Recruits in IA: Stifel, Nicolaus & Co. recruited Grant Clark and Mark Malone from Merrill Lynch in Des Moines, IA, managing $1.2 billion.

Pilot Financial Joins LPL: Pilot Financial moved to LPL Financial from Lincoln Financial, managing $4.6 billion in assets.

Rockefeller Expands in Austin: Rockefeller Capital Management expanded in Austin, TX, hiring Rusty Tally, John H. McManus, and Jon R. Maldonado from UBS, managing $400 million.

Steward Partners Add Merrill Duo: Steward Partners recruited Michael Elinoff and Jory LaForge from Merrill Lynch in Bethesda, MD, managing $320 million.

LPL Adds Berthel Fisher Duo: Raymond Algrain and Gary Wagner left Berthel Fisher to join LPL Financial in Chicago, managing $200 million.

Sanctuary Acquires tru Independence: Sanctuary Wealth acquired tru Independence, managing $12.5 billion in assets, and creating a platform with over $42 billion in client assets.

MAI Capital Acquires Harbor Wealth: MAI Capital Management acquired Harbor Wealth Management, managing $321 million in assets.

Modern Wealth Acquires Two RIAs: Modern Wealth Management added $570 million in AUM by acquiring Wealth Management Solutions and Autumn Wind Asset Management.

Waverly Advisors Acquires Derbend Asset Management: Waverly Advisors expanded by acquiring Derbend Asset Management, managing $310 million in assets.

WEG Buys The Financial Advisory Group: Wealth Enhancement Group acquired a Houston-based RIA managing $1.2 billion in assets.

Thimble Island Private Wealth Formed: Logan Reed, James English III, Michael Allegra Jr., and Matthew Fleming launched Thimble Island Private Wealth with LPL Financial, managing $830 million in assets.

Auctus Legacy Private Wealth Formed: Alain Verhille and James S. Wood launched Auctus Legacy Private Wealth Management with LPL Financial, managing $705 million in assets.

 

Read on for more info...


Rep Movement

Rockefeller Lands $4.5M Morgan Stanley Private Wealth Team in NC

Rockefeller Capital Management has recruited a Morgan Stanley private wealth duo in Charlotte, North Carolina, generating $4.5 million in annual revenue. Adam B. Landau and Ramy Georgy, managing $1.4 billion in client assets, joined Rockefeller with associates Garland Neal and Karla Lavin. This move follows a similar February recruitment and aligns with Rockefeller's goal of hiring 200 teams by 2025 under Southeast Divisional Manager Kristen Sario. Concurrently, Morgan Stanley acquired a Wells Fargo team managing $322 million in assets in Raleigh, North Carolina, led by Richard E. Mason Jr. and JoAnna Clark Mason. Wells Fargo also made significant hires, including a Beverly Hills team managing $1.2 billion in assets from Morgan Stanley. 

What You Need to Know:

→ Rockefeller Capital Management recruited a Morgan Stanley private wealth duo, Adam B. Landau and Ramy Georgy, in Charlotte, North Carolina, managing $1.4 billion in client assets and generating $4.5 million in annual revenue.
→ This hire is part of Rockefeller's aggressive goal to recruit 200 teams by 2025, following a similar recruitment in February.
→ Concurrently, Morgan Stanley acquired a Wells Fargo team in Raleigh, North Carolina, managing $322 million in assets, led by Richard E. Mason Jr. and JoAnna Clark Mason.
→ Wells Fargo showcased its enhanced recruiting efforts by hiring a Beverly Hills team managing $1.2 billion in assets from Morgan Stanley.

View FINTRX Profile >>

 

UBS Broker Managing $275 Million Jumps to LPL in Washington

Matthew J. Sheffield, a UBS Wealth Management broker managing $275 million in client assets, has joined LPL Financial’s Strategic Wealth Services (SWS) channel. Sheffield, along with client associate Kayla Randall, made the move in early May to gain more ownership and autonomy in his practice, now named Burlwood Wealth. Previously, Sheffield operated as the Northwest Wealth Consulting Group at UBS. LPL’s SWS unit, which offers brokers operational support in exchange for a revenue-based charge, has added 44 teams since its inception four years ago. LPL, the largest broker-dealer with nearly 23,000 advisors, highlighted its robust recruiting strategy, adding advisors with a combined $2 billion in assets in the first quarter of 2024.

What You Need to Know:

→ Matthew J. Sheffield, a broker managing $275 million in client assets, along with client associate Kayla Randall, has left UBS Wealth Management to join LPL Financial’s Strategic Wealth Services channel.
→ Sheffield's new practice is named Burlwood Wealth, transitioning from his previous UBS practice, Northwest Wealth Consulting Group.
→ LPL's SWS unit, which provides operational support in exchange for a revenue-based charge, has added 44 teams since its launch four years ago.

View FINTRX Profile >>

 

J.P. Morgan Hires Merrill Private Wealth Team Managing $28B in LA

J.P. Morgan Advisors has recruited a prominent private wealth team from Merrill Lynch in Los Angeles, managing $28 billion in client assets. Led by Eric Gray and Lance Polverini, the five-person team generated $10 million in annual revenue and caters to ultra-wealthy clients. This move, which includes support staff Drew Sapede, Michelle Blackmer, and Irma Deluna, is seen as a major gain for J.P. Morgan. The team is highly regarded in Los Angeles and their departure is considered a significant loss for Merrill Lynch. The team ranked #12 on Forbes' best-in-state wealth management teams and #38 on its top private wealth teams list in the U.S. This recruitment emphasizes J.P. Morgan Wealth Management's appeal to top advisors, according to CEO Phil Sieg. 

What You Need to Know:

→ J.P. Morgan Advisors recruited a private wealth team from Merrill Lynch in Los Angeles, managing $28 billion in client assets.
→ The team is led by Eric Gray and Lance Polverini, who, along with three support staff members, generated $10 million in annual revenue.
→ The team ranked highly on Forbes' lists, placing #12 in best-in-state wealth management teams and #38 in top private wealth teams in the U.S.

View FINTRX Profile >>

 

Raymond James Snags $900M Private Wealth Team from Wells Fargo in FL

Raymond James & Associates recently recruited a private wealth team from Wells Fargo Advisors, managing over $900 million in client assets. Based at Raymond James' St. Petersburg, Florida headquarters, the team includes advisors Emmanuel Lelekis, Sharon Ellis-Champagne, Brian Kilczewski, and Chadd Eaton, along with client associates Maria Bollo, Tanya Schiller, and Katherine Robertson. Reporting to Branch Manager Paul Manfrey and Complex Manager Michelle Lynch, the group, named the Lelekis, Ellis, Kilczewski Private Wealth Management Group, targets clients with $5 million or more in assets. Raymond James has also added teams from Morgan Stanley in Newport Beach, California, and a San Diego broker from UBS managing $450 million in assets. 

What You Need to Know:

→ Raymond James & Associates has recruited a private wealth team from Wells Fargo Advisors, including advisors Emmanuel Lelekis, Sharon Ellis-Champagne, Brian Kilczewski, and Chadd Eaton, along with client associates Maria Bollo, Tanya Schiller, and Katherine Robertson, who collectively manage over $900 million in client assets.
→ Based in St. Petersburg, Florida, the group reports to Carillon Branch Manager, Paul Manfrey and Tampa Bay Complex Manager, Michelle Lynch.
→ The team joins Raymond James’ private wealth program, which targets clients with $5 million or more in assets.
→ Raymond James has recently expanded by adding a $9 million revenue team from Morgan Stanley in Newport Beach, California, and a San Diego broker from UBS managing $450 million in assets.

View FINTRX Profile >>

 

Rockefeller Swipes $3M Morgan Stanley Group in IL, $3.2M Merrill Team in CT

Rockefeller Capital Management has expanded by recruiting two private wealth groups, each generating around $3 million in revenue. In Chicago, brokers Ronald S. Ventura and Elias Stambolis, managing approximately $1 billion in client assets at Morgan Stanley, joined Rockefeller, attracted by its family office services. They moved with associates Debra Willson and Jackson Wildermuth. In Hartford, Connecticut, Edward J. Wahlberg, a 28-year Merrill Lynch veteran managing $500 million in client assets, also joined Rockefeller with associates Steve Szeligowski, Pamela King, Ashley Volage, and Renee Moreau. 

What You Need to Know:

→ Rockefeller Capital Management recruited two private wealth groups, each generating around $3 million in revenue, from Morgan Stanley and Merrill Lynch.
→ In Chicago, Ronald S. Ventura and Elias Stambolis, who managed approximately $1 billion in client assets at Morgan Stanley, joined Rockefeller with associates Debra Willson and Jackson Wildermuth.
→ In Hartford, Connecticut, Edward J. Wahlberg, a 28-year Merrill Lynch veteran managing $500 million in client assets, joined Rockefeller with associates Steve Szeligowski, Pamela King, Ashley Volage, and Renee Moreau.
→ These hires are part of Rockefeller’s growth strategy, which has seen the firm expand to around 150 teams managing $122 billion in assets since 2018.

View FINTRX Profile >>

 

$225M Ex-Cetera Team Joins LPL Financial

LPL Financial has recruited advisors Darryl Carter and Lance Dumas from Cetera Financial Group. The duo, who manage approximately $225 million in client assets, runs Cornerstone Financial Advisers, based in Irvine, California. Founded in 2017, both advisors have extensive experience with Cetera, with Dumas joining in 2009 and Carter in 1999. The team’s transition underscores LPL's appeal in providing robust support and resources for advisors seeking greater autonomy. This move aligns with LPL’s ongoing strategy to attract high-performing teams from other firms to enhance their service offerings and client reach.

What You Need to Know:

→ LPL Financial has successfully recruited advisors Darryl Carter and Lance Dumas from Cetera Financial Group.
→ The duo managed approximately $225 million in client assets at Cetera Financial Group.
→ Carter and Dumas run Cornerstone Financial Advisers, an Irvine, California-based practice founded in 2017.
→ Both advisors have significant tenures at Cetera, with Dumas joining in 2009 and Carter in 1999.

View FINTRX Profile >>

 

Corient Adds Team from $784M Virginia-Based RIA

Corient, the US wealth management arm of Canadian asset manager CI Financial, has added advisors Gregg Konopaske and John Langford from the $784 million KFA Private Wealth Group in McLean, Virginia. Konopaske, now a partner at Corient, co-founded KFA Private Wealth Group in 2009 and took it independent in 2015 after breaking from Ameriprise Financial Services. Langford, who has been with KFA since its inception, joins Konopaske at Corient, enhancing the firm's advisory team.

What You Need to Know:

→ Corient, the US wealth management arm of CI Financial, has added advisors Gregg Konopaske and John Langford from the $784 million KFA Private Wealth Group.
→ Gregg Konopaske, co-founder of KFA Private Wealth Group, took the firm independent from Ameriprise Financial Services in 2015. John Langford has been with KFA since its inception.

View FINTRX Profile >>

 

Ex-First Republic Broker Managing $300M Returns to Merrill Lynch

Kevin E. Barnes, a broker managing $300 million in client assets, has rejoined Merrill Lynch's private wealth unit in San Francisco. Barnes, who left Merrill in 2016 for First Republic and later joined J.P. Morgan Advisors, is now part of the Cardente Group led by John S. Cardente. The team managed $20.8 billion in assets. This move follows Merrill's recent recruitment of a $15-million team from First Republic in Palm Beach Gardens. Merrill is reviving its recruitment efforts despite recent large team defections.

What You Need to Know:

→ Kevin E. Barnes, managing $300 million in client assets, rejoined Merrill Lynch's private wealth unit in San Francisco.
→ Barnes had been with J.P. Morgan Advisors following the purchase of First Republic.
→ Barnes left Merrill in 2016, where he managed $360 million and generated $3 million in revenue.
→ He joins the Cardente Group at Merrill, led by John S. Cardente, which managed $20.8 billion in assets.

View FINTRX Profile >>

 

Merrill Loses $1.2B Team to Stifel in IA, $705M Group to LPL in OK

Two Merrill Lynch teams managing nearly $2 billion in assets have transitioned to new firms. Grant Clark and Mark Malone, overseeing $1.2 billion in assets, have joined Stifel, Nicolaus & Co. in Des Moines, Iowa, citing the firm's strong focus on advisor-client relationships. Meanwhile, Alain R. Vehille and James S. Wood, managing $705 million in assets, have moved to LPL Financial's private wealth channel in Oklahoma City after extensive due diligence, appreciating LPL's dedicated support and advanced financial planning services. 

What You Need to Know:

→ Grant Clark and Mark Malone, managing $1.2 billion in assets, left Merrill Lynch to join Stifel, Nicolaus & Co. in Des Moines, Iowa.
→ Alain R. Vehille and James S. Wood, managing $705 million in assets, moved from Merrill Lynch to LPL Financial's private wealth channel in Oklahoma City after extensive due diligence.
→ LPL's private wealth segment aims to recruit brokers with clients holding over $5 million in investable assets and offers comprehensive financial planning support.
→ Stifel reported having 2,356 brokers at the end of March, despite industry-wide recruiting slowdowns and seasonal retirements.

View FINTRX Profile >>

 

LPL Recruits $4.6B OSJ from Lincoln

Pilot Financial, a network of 105 advisors with $4.6 billion in assets under management, has transitioned its advisory and brokerage business to LPL Financial from Lincoln Financial. This move follows the sale of Lincoln’s $115 billion wealth business to Osaic. Based in Greensboro, N.C., Pilot was founded in 2001 and has been affiliated with Lincoln since its inception. The firm, led by partners Chris Roney, Greg Smith, Daryl E. King, and Bill Harnden, was drawn to LPL's resources, marketing capabilities, and customer service, aiming to attract new advisors and support its growth.

What You Need to Know:

→ Pilot Financial, with 105 advisors and $4.6 billion in assets, has moved to LPL Financial from Lincoln Financial.
→ This transition follows Lincoln's sale of its $115 billion wealth business to Osaic.
→ Pilot Financial, founded in 2001 and based in Greensboro, N.C., is led by Chris Roney, Greg Smith, Daryl King and Bill Harnden.
→ The firm was attracted to LPL's strategic resources, marketing capabilities and customer service.

View FINTRX Profile >>

 

Rockefeller Expands in Austin with $3.3M UBS Trio

Rockefeller Capital Management has expanded in Austin, Texas, by hiring a $3.3 million trio from UBS Wealth Management USA, consisting of Rusty Tally, John H. McManus, and Jon R. Maldonado, who managed $400 million in assets. This marks Rockefeller's second team in Austin, following a $7.5 million UBS team hired last year. The new team, which includes associates Nora Rocha and Marisa Rubino, reports to Central Division Director Michael Armondo in Dallas. Rockefeller aims to add two or three more teams in Austin as part of its strategy to build a foundation of 200 to 250 brokers. 

What You Need to Know:

→ Rockefeller expanded in Austin, Texas by hiring a $3.3 million trio from UBS Wealth Management USA, consisting of Rusty Tally, John H. McManus, and Jon R. Maldonado, who managed $400 million in assets.
→ This marks Rockefeller's second team in Austin, following a $7.5 million UBS team hired last year, and the new team reports to Central Division Director Michael Armondo in Dallas.
→ Rusty Tally, a 48-year industry veteran, began his career at Rauscher Pierce Refsnes, while McManus and Maldonado have backgrounds at Citicorp Securities and Northwestern Mutual, respectively.

View FINTRX Profile >>

 

Steward Partners Adds $320M Pair from Merrill Lynch

Steward Partners has recruited a team managing $320 million in assets from Merrill Lynch. The duo, consisting of advisors Michael Elinoff and Jory LaForge, joined Steward Partners' office in Bethesda, Maryland. Elinoff and LaForge are transitioning to Steward Partners to take advantage of its supportive infrastructure and client-focused approach. This move is part of Steward Partners' ongoing strategy to attract high-performing advisors and expand its national presence.

What You Need to Know:

→ Steward Partners recruited advisors Michael Elinoff and Jory LaForge from Merrill Lynch, managing $320 million in assets.
→ The new team will be based in Steward Partners' Bethesda, Maryland office.
→ Elinoff and LaForge bring decades of combined experience to Steward Partners.

View FINTRX Profile >>

 

$200M Advisory Duo Leaves Berthel Fisher to Join LPL

A $200 million advisory duo, consisting of Raymond Algrain and Gary Wagner, has left Berthel Fisher to join LPL Financial. The team, now operating from Chicago, sought LPL’s support and resources to enhance their client services. This move aligns with LPL’s ongoing efforts to attract high-caliber advisors and expand its advisory network. Algrain and Wagner bring extensive industry experience and a strong client base to their new firm.

What You Need to Know:

→ Raymond Algrain and Gary Wagner, managing $200 million in assets, left Berthel Fisher to join LPL Financial.
→ The duo is now operating from Chicago and sought LPL’s enhanced support and resources.

View FINTRX Profile >>

RIA CTA 2


M&A Activity

Sanctuary Obtains tru Independence in Oregon

Sanctuary Wealth has acquired tru Independence, a Portland-based firm supporting 30 RIA firms with $12.5 billion in assets. This merger integrates tru Independence into Sanctuary’s network, enhancing support for financial advisors nationwide. CEO Adam Malamed emphasized the strategic alignment in redefining independence within wealth management. Founded in 2014 by Craig Stuvland, tru Independence supports advisors at various career stages. The combined entity will manage over $42 billion in client assets across 30 states, supporting about 120 independent firms. Presidents Vince Fertitta and Robert Walter anticipate a collaborative future, enhancing service and growth for advisors. ECHELON Partners advised tru on the sale, with legal counsel from Winthrop & Weinstine.

What You Need to Know:

→ Sanctuary Wealth has acquired tru Independence, a Portland-based firm supporting 30 RIA firms with $12.5 billion in client assets.
→ The integration of tru Independence into Sanctuary’s network aims to enhance support for financial advisors, creating a platform managing over $42 billion in client assets across 30 states.
→ Adam Malamed, CEO of Sanctuary Wealth, emphasized the strategic alignment and commitment to redefining independence in the wealth management industry.
→ ECHELON Partners acted as the exclusive sell-side financial advisor to tru, with legal counsel from Winthrop & Weinstine.

View FINTRX Profile >>

 

MAI Capital Management Acquires Harbor Wealth Management

MAI Capital Management has acquired Harbor Wealth Management, expanding its presence in Boulder and Denver, CO. Harbor, founded by Elyse Foster in 1988, manages $321 million in client assets. The acquisition will integrate Harbor’s client-first approach with MAI’s robust infrastructure. This marks MAI's 37th acquisition since 2018 and its fifth in 2024, bringing MAI's total client assets under management to $22.5 billion as of March 31, 2024.

What You Need to Know:

→ MAI Capital Management acquired Harbor Wealth Management, a firm founded by Elyse Foster in 1988 and based in Boulder and Denver, CO, which manages $321 million in client assets.
→ Elyse Foster and Megan Miller will become Senior Wealth Advisors and Managing Directors.
→ This acquisition is MAI's 37th since 2018 and the fifth in 2024, expanding MAI’s presence in Colorado.
→ MAI now manages $22.5 billion in client assets (as of March 31, 2024).

View FINTRX Profile >>

 

Modern Wealth Adds $570M in Double Deal with Philly, Virginia RIAs

Modern Wealth Management has announced the acquisition of two RIAs, Wealth Management Solutions in Philadelphia and Autumn Wind Asset Management in Reston, VA, increasing its AUM by $570 million. Founded by former United Capital Financial Advisers executives Mike Capelle, Gary Roth, and Jason Gordo, Modern Wealth has completed eight acquisitions since its launch in 2023. Wealth Management Solutions, formed in 2015 by Tanu Happonen, manages $400 million in assets for 350 clients and employs three CFPs along with support staff.

What You Need to Know:

→ Modern Wealth Management acquired Philadelphia-based Wealth Management Solutions and Reston, VA-based Autumn Wind Asset Management, adding $570 million in AUM.
→ These acquisitions are the seventh and eighth for Modern Wealth since its launch in spring 2023.
→ Wealth Management Solutions, founded by Tanu Happonen in 2015, manages $400 million for 350 client accounts.
→ Modern Wealth was founded by former United Capital Financial Advisers executives Mike Capelle, Gary Roth, and Jason Gordo.

View FINTRX Profile >>

 

Waverly Snaps Up $310M Advisory Firm in Georgia

Waverly Advisors has acquired Derbend Asset Management, marking its 20th US location and fourth acquisition in Georgia since June 2022. This expansion enhances Waverly’s presence in the metro Atlanta area. Derbend, founded in 2002 by Chip Beard and later joined by Brian Chustz, manages $310 million in assets. The acquisition, Waverly's 14th since December 2021, boosts its AUM to $11.9 billion. The entire Derbend team will join Waverly, continuing their multidisciplinary advisory services.

What You Need to Know:

→ Waverly Advisors acquired Derbend Asset Management, marking its 20th US location and fourth acquisition in Georgia since June 2022.
→ Derbend, founded by Chip Beard with partner Brian Chustz, manages $310 million in assets and will fully integrate into Waverly.
→ This acquisition boosts Waverly's assets under management to approximately $11.9 billion.
→ The deal is Waverly’s 14th since receiving an equity investment from Wealth Partners Capital Group and HGGC’s Aspire Holdings in December 2021.

View FINTRX Profile >>

 

WEG Buys $1.2B Houston RIA in its Fifth Deal of the Year

Wealth Enhancement Group (WEG) has acquired The Financial Advisory Group, a Houston-based RIA managing $1.2 billion in assets. Founded in 1997 by Richard Alphonso, the firm includes seven advisors and 14 support staff, specializing in serving doctors, oral surgeons, attorneys and business owners. This acquisition is WEG's fifth deal in 2024. Alphonso sees the partnership with WEG as a way to sustain and grow his business.

What You Need to Know:

→ Wealth Enhancement Group (WEG) has acquired The Financial Advisory Group, a Houston-based RIA with $1.2 billion in assets, its fifth deal of 2024.
→ The Financial Advisory Group was founded in 1997 by Richard Alphonso and includes seven advisors and 14 support staff.
→ The firm specializes in serving doctors, oral surgeons, attorneys and business owners, and runs its own family office.

View FINTRX Profile >>


New Firm Launches

Thimble Island Private Wealth Launches With Support from LPL Strategic Wealth Services

LPL Financial LLC announced that financial advisors Logan Reed, James English III, Michael Allegra Jr., and Matthew Fleming have launched Thimble Island Private Wealth through LPL’s Strategic Wealth Services. Previously at Janney Montgomery Scott, the team manages $830 million in assets. Based in New Haven, Connecticut, they emphasize personalized, concierge-level service. The move to LPL provides them with greater flexibility and access to comprehensive resources. The rebranding to Thimble Island Private Wealth symbolizes their commitment to guiding clients through complex financial landscapes. LPL's Scott Posner welcomed the team, praising their client-first approach.

What You Need to Know:

→ Financial advisors Logan Reed, James English III, Michael Allegra Jr., and Matthew Fleming have launched a new independent practice, Thimble Island Private Wealth, through LPL Financial’s Strategic Wealth Services.
→ The team, formerly with Janney Montgomery Scott, manages approximately $830 million in advisory, brokerage, and retirement plan assets.

 

LPL Financial Welcomes Auctus Legacy Private Wealth Management

LPL Financial LLC announced that advisors Alain Verhille and James S. Wood have joined its high-net-worth-focused model, LPL Private Wealth Management, to establish Auctus Legacy Private Wealth Management. Formerly with Merrill Lynch, the team managed $705 million in assets. Based in Oklahoma City, Verhille and Wood specialize in optimizing wealth for high-net-worth, multi-generational families. They are joined by Certified Senior Advisors Erikka Moore and Kathy Isernhagen. The advisors selected LPL for its independence, support, and comprehensive services, which enhance client service and business growth. Scott Posner of LPL welcomed the team, underscoring LPL's dedication to high-net-worth advisors.

What You Need to Know:

→ Financial advisors Alain Verhille and James S. Wood have joined LPL Financial’s high-net-worth-focused model to establish Auctus Legacy Private Wealth Management.
→ The team, previously with Merrill Lynch, manages approximately $705 million in advisory, brokerage, and retirement plan assets.
→ Based in Oklahoma City, Verhille and Wood bring over 50 years of combined industry experience and are joined by Certified Senior Advisors Erikka Moore and Kathy Isernhagen.


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