LPL Financial Welcomes Advisor Jeffrey Grange to Linsco Channel

Rhea-AI Summary

LPL Financial announced that financial advisor Jeffrey Grange has joined their employee advisor channel, Linsco by LPL Financial, to launch Grange Wealth Management. Grange, who previously served at D.A. Davidson & Co., brings approximately $300 million in advisory, brokerage and retirement plan assets to LPL. Operating from a new Linsco office in Santa Barbara, California, Grange primarily serves high-net-worth individuals and affluent families.

The move was motivated by LPL's extensive size, scale, and ability to operate without conflicts of interest. Through Linsco, Grange gains access to LPL's integrated wealth management platform and business resources, while receiving support for operations, technology, and administrative tasks.

Positive

• Addition of $300 million in managed assets to LPL's portfolio
• Expansion of Linsco channel with new office in Santa Barbara
• Strategic growth in high-net-worth client segment

Negative

• None.

Insights

Financial Analyst

The addition of Jeffrey Grange, managing $300 million in assets, represents a modest but strategic acquisition for LPL Financial's Linsco channel. While this move strengthens LPL's presence in the affluent Santa Barbara market, the impact on LPL's overall $1.7 trillion in assets under custody is minimal. The recruitment aligns with LPL's growth strategy in the employee advisor channel, potentially contributing to increased revenue through advisory fees and brokerage services. The high-net-worth focus of Grange's practice could generate above-average revenue per client, though the immediate financial impact on LPLA stock is likely to be negligible.

SAN DIEGO, Dec. 17, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisor Jeffrey Grange, CWS® has joined LPL’s employee advisor channel, Linsco by LPL Financial, to launch Grange Wealth Management of LPL Financial. He reported serving approximately $300 million in advisory, brokerage and retirement plan assets* and joins LPL from D.A. Davidson & Co. He will operate from a new Linsco office in Santa Barbara, Calif.

Grange’s journey into financial services followed tenures as a college coach and professional sailor, where he won multiple national titles and a world championship in sailing. Now with two decades of experience as a financial advisor, Grange has built a successful practice that primarily serves high-net-worth individuals and affluent families. He’s supported by registered Client Service Associate Debora McKenzie-Jakushak.

“I enjoyed being a tactician in professional sailing working with the helmsman to get the boat around the racecourse the fastest," Grange said. “Financial advising has many similarities in trust, partnership, working for a common goal, not taking too many risks and putting your teammates before yourself.”

The extensive size and scale of LPL Financial, coupled with the ability to function without conflicts of interest, were key factors in Grange's decision to join LPL.

“I was searching for more freedom to better serve my clients and found that LPL provides the optionality and flexibility that I need to operate my practice in the best interests of my clients,” Grange said. “I appreciate that LPL’s enhanced technology allows me to elevate the client experience by creating more streamlined experiences.”

Looking for more independence without the burden of running his own business, Grange turned to the Linsco employee advisor solution. With Linsco, advisors have access to LPL’s integrated wealth management platform and robust business resources, along with the additional benefits of having support from an experienced branch management team and other dedicated consultants. This dynamic relationship gives advisors the ability to outsource things like real estate, technology, operations support and payroll so they can focus on what matters most: taking care of their clients.

“I am thrilled to be part of Linsco by LPL and to extend to my clients the exceptional service and resources they merit,” Grange said. “I appreciate all the help behind the scenes so that I dedicate my time to providing clients with personalized attention and sound investment strategies.”

Beyond his professional pursuits, Grange is an active member of the sailing community. His volunteer work includes contributions to junior sailing non-profits such as the UCSB Sailing Team, as well as participation in coastal protection and cleanup efforts.

Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome Jeff to the Linsco community. We are committed to delivering the strategic support, innovative technology and business resources advisors need to build thriving practices and provide elevated experiences for their clients. We look forward to supporting Jeff for years to come as he continues to grow his practice and provide valuable financial guidance to his clients.”

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About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 28,000 financial advisors and the wealth management practices of 1,200 financial institutions, servicing and custodying approximately $1.7 trillion in brokerage and advisory assets on behalf of 6 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.

Securities and advisory services offered through LPL Financial (LPL), a registered investment advisor and broker dealer, member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

We routinely disclose information that may be important to shareholders in the "Investor Relations" or "Press Releases" section of our website.

*Value approximated based on asset and holding details provided to LPL from mid-year 2024

Media Contact: 
Media.relations@LPLFinancial.com 
(704) 996-1840

Tracking #670053

FAQ

How much in assets did Jeffrey Grange bring to LPL Financial (LPLA)?

Jeffrey Grange brought approximately $300 million in advisory, brokerage and retirement plan assets to LPL Financial.

Where is the new Linsco by LPL Financial office located?

The new Linsco by LPL Financial office is located in Santa Barbara, California.

What was Jeffrey Grange's previous firm before joining LPL Financial (LPLA)?

Jeffrey Grange joined LPL Financial from D.A. Davidson & Co.

What type of clients does Grange Wealth Management of LPL Financial serve?

Grange Wealth Management primarily serves high-net-worth individuals and affluent families.

What services does Linsco by LPL Financial provide to its advisors?

Linsco provides advisors with access to LPL's integrated wealth management platform, business resources, branch management support, and handles real estate, technology, operations support, and payroll.