LPL Financial Welcomes Auctus Legacy Private Wealth Management
LPL Financial announced that financial advisors Alain Verhille and James S. Wood have joined its high-net-worth-focused employee affiliation model, LPL Private Wealth Management, to launch Auctus Legacy Private Wealth Management. The advisors, formerly with Merrill Lynch, manage approximately $705 million in assets and bring over 50 years of combined experience. They will be joined by Certified Senior Advisors Erikka Moore and Kathy Isernhagen. The new team aims to provide comprehensive wealth management services for high-net-worth clients, focusing on wealth optimization and risk reduction. LPL's support structure, including advanced estate planning and complex life insurance strategies, played a significant role in their decision to join. The move underscores LPL's commitment to expanding its high-net-worth advisory capabilities.
- LPL Financial attracts high-profile advisors managing $705 million in assets.
- Auctus Legacy Private Wealth Management targets high-net-worth clients, enhancing LPL's market segment.
- The advisors bring over 50 years of combined experience, adding significant expertise to LPL.
- LPL's comprehensive support services, including advanced estate planning and tax strategies, attract top talent.
- Inclusion of Certified Senior Advisors reinforces team expertise and client service quality.
- Potential integration challenges as advisors transition from Merrill Lynch to LPL.
- Significant reliance on high-net-worth clients could increase exposure to market volatility.
SAN DIEGO, May 21, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Alain Verhille, CFP®, CPFA®, and James S. Wood have joined LPL Financial’s high-net-worth-focused employee affiliation model, LPL Private Wealth Management, to launch Auctus Legacy Private Wealth Management. The advisors reported serving approximately
Based in Oklahoma City, Okla., Senior Vice President, Wealth Management Advisor Verhille and Managing Director, Wealth Management Advisor Wood are longtime business partners with more than 50 years of collective industry experience. The advisors serve a primarily high-net-worth clientele, focusing on comprehensive planning that seeks to optimize wealth and reduce risk for multi-generational families. They are joined by licensed Certified Senior Advisors Erikka Moore and Kathy Isernhagen.
“Our firm brings the right expertise, experience and clarity to the table to find paths forward for clients,” Verhille said. “We’re helping extraordinary people stay extraordinary.”
Having worked with each other for decades, the advisors have developed a deep friendship, understanding of each other’s strengths and preferences, and leverage their bond to connect more deeply with their clients.
“We are like a family, and our relationship with each other doesn’t stop at 5 p.m. on Friday,” said Wood. “We understand the value of building genuine relationships, knowing one another and what’s important to clients. I believe our clients feel like we give them a very good opportunity to have a path to succeed in their goals.”
Why LPL Financial
Looking for the right blend of independence and support to create their ideal boutique practice, Verhille and Wood turned to LPL Private Wealth Management.
Tailored to the needs of high-net-worth-focused advisors, LPL Private Wealth is an independent employee advisor affiliation model featuring a comprehensive array of services and support to enhance client service delivery and business growth while upholding the tenets of independence. LPL Private Wealth advisors enjoy the benefits of industry-leading payouts, client ownership and business autonomy while gaining access to enhanced service, expanded capabilities and an exclusive high-net-worth advisor community. LPL has developed focused resources including advanced estate and philanthropic planning, income tax strategy, trustee services, alternative investments platform, banking and lending solutions, and complex life insurance planning as well as a curated network of third-party specialists.
“It took us two years of due diligence as we analyzed a lot of companies to find the right fit,” said Verhille. “We wanted the top firm to help us refocus our wealth management business. LPL provides us with a dedicated team and white glove service while giving us access to help on the financial planning side of our business. It has been refreshing the way LPL is organized and takes care of its advisors — LPL checked all the boxes.”
Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome Alain, James and the Auctus Legacy team to the LPL community and congratulate them on taking this next step in growing their client-centered high-net-worth practice. At LPL, we recognize that high-net-worth-focused advisors need sophisticated resources and support while also valuing the freedom to shape their practice in a way that best serves their clients. We continue to make significant investments in developing our high-net-worth capabilities and offer an open-architecture platform that enables advisors to access subject matter experts in a wide variety of niche areas. We look forward to fostering a long-lasting relationship with Auctus Legacy Private Wealth Management.”
Related
Advisors, find your perfect fit at LPL.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that LPL should work for advisors and institutions, and not the other way around. Today, LPL is a leader in the markets we serve, serving nearly 23,000 financial advisors, including advisors at approximately 1,100 institutions and at approximately 570 registered investment advisor ("RIA") firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and institution leaders have the freedom they deserve to choose the business model, services and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors and institutions, so they can take care of their clients.
Securities and Advisory services offered through LPL Financial LLC ("LPL Financial"), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States. Auctus Legacy Private Wealth Management and LPL Financial are separate entities. LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial.
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 end of year, 2023.
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