LPL Financial Welcomes Nexus Wealth Partners
LPL Financial (Nasdaq: LPLA) announced that Nexus Wealth Partners has joined their broker-dealer, RIA and custodial platforms from Osaic, bringing approximately $410 million in advisory, brokerage and retirement plan assets. The Westlake Village, California-based team is led by managing partners Scott D. Nelson and Kamie Abraham, along with four support staff members. The transition followed an eight-month search and was driven by their need for robust technology, integrated capabilities, and growth opportunities. The team specializes in serving business owners, corporate executives, entertainment industry professionals, and women in life transitions.
LPL Financial (Nasdaq: LPLA) ha annunciato che Nexus Wealth Partners è entrata a far parte delle loro piattaforme di broker-dealer, RIA e custodial provenienti da Osaic, portando con sé circa $410 milioni in asset di consulenza, intermediazione e piani di pensionamento. Il team, con sede a Westlake Village, California, è guidato dai partner gestionali Scott D. Nelson e Kamie Abraham, insieme a quattro membri del personale di supporto. La transizione è avvenuta dopo una ricerca di otto mesi ed è stata guidata dalla loro necessità di una tecnologia robusta, capacità integrate e opportunità di crescita. Il team si specializza nell'assistere imprenditori, dirigenti aziendali, professionisti dell'industria dell'intrattenimento e donne in transizione nella vita.
LPL Financial (Nasdaq: LPLA) anunció que Nexus Wealth Partners se ha unido a sus plataformas de corredor-dealer, RIA y custodial de Osaic, aportando aproximadamente $410 millones en activos de asesoría, corretaje y planes de jubilación. El equipo, ubicado en Westlake Village, California, está liderado por los socios gestores Scott D. Nelson y Kamie Abraham, junto con cuatro miembros del personal de apoyo. La transición siguió a una búsqueda de ocho meses y fue impulsada por su necesidad de tecnología sólida, capacidades integradas y oportunidades de crecimiento. El equipo se especializa en atender a propietarios de negocios, ejecutivos corporativos, profesionales de la industria del entretenimiento y mujeres en transiciones de vida.
LPL Financial (Nasdaq: LPLA)는 Nexus Wealth Partners가 Osaic으로부터 그들의 브로커-딜러, RIA, 및 수탁 플랫폼에 합류하여 약 $410 백만의 자문, 중개 및 퇴직 계획 자산을 가져왔다고 발표했습니다. 캘리포니아 웨스트레이크 빌리지에 본사를 둔 팀은 관리 파트너인 Scott D. Nelson과 Kamie Abraham이 이끌며, 4명의 지원 직원과 함께합니다. 이 전환은 8개월의 검색을 거쳐 진행되었으며, 강력한 기술, 통합된 기능 및 성장 기회에 대한 필요에 의해 추진되었습니다. 이 팀은 사업주, 기업 임원, 엔터테인먼트 산업 전문가 및 인생 전환기에 있는 여성들을 지원하는 데 전문화되어 있습니다.
LPL Financial (Nasdaq: LPLA) a annoncé que Nexus Wealth Partners a rejoint leurs plateformes de courtage, RIA et de conservation d'Osaic, apportant environ $410 millions d'actifs de conseil, de courtage et de plans de retraite. L'équipe, basée à Westlake Village, Californie, est dirigée par les partenaires de gestion Scott D. Nelson et Kamie Abraham, ainsi que quatre membres du personnel de soutien. La transition a suivi une recherche de huit mois et a été motivée par leur besoin d'une technologie robuste, de capacités intégrées et d'opportunités de croissance. L'équipe se spécialise dans le service aux propriétaires d'entreprises, aux dirigeants d'entreprise, aux professionnels de l'industrie du divertissement et aux femmes en transition de vie.
LPL Financial (Nasdaq: LPLA) gab bekannt, dass Nexus Wealth Partners sich ihren Broker-Dealer-, RIA- und Verwahrplattformen von Osaic angeschlossen hat, und dabei etwa $410 Millionen an Beratungs-, Brokerage- und Altersvorsorgevermögen mitgebracht hat. Das Team mit Sitz in Westlake Village, Kalifornien, wird von den geschäftsführenden Partnern Scott D. Nelson und Kamie Abraham sowie vier Mitarbeitern des Unterstützungsstabs geleitet. Der Übergang erfolgte nach einer achtmonatigen Suche und wurde durch ihren Bedarf an robuster Technologie, integrierten Funktionen und Wachstumschancen vorangetrieben. Das Team ist auf die Betreuung von Geschäftsinhabern, Unternehmensleitern, Fachleuten der Unterhaltungsindustrie und Frauen in Lebensübergängen spezialisiert.
- Addition of $410 million in assets under management
- Strategic expansion of client base in high-net-worth segments (entertainment industry, business owners, corporate executives)
- Platform expansion through acquisition of experienced advisory team
- None.
Insights
The acquisition of Nexus Wealth Partners, managing
- The team's specialty in serving entertainment industry clients and women in transition provides valuable niche market penetration
- The young age of the managing partners (41 and 32) positions them well for long-term growth and next-generation client acquisition
- Their transition from Osaic continues LPL's successful strategy of recruiting established teams from competitors
The deal aligns with LPL's broader strategy of expanding its advisor network while maintaining its technology-forward, advisor-centric business model. However, given the size relative to LPL's overall operations, the immediate impact on stock performance should be minimal.
SAN DIEGO, Nov. 11, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC, announced today that the financial advisors at Nexus Wealth Partners have joined LPL Financial’s broker-dealer, RIA and custodial platforms. They reported serving approximately
Based in Westlake Village, Calif., the team is led by managing partners Scott D. Nelson, CFP®, MBA, and Kamie Abraham, CFP®, MBA, and includes four support staff members. For 18 years, Nelson has assisted business owners, corporate executives, retirees and wealthy multigenerational families make informed decisions while accumulating and preserving their wealth. He also manages the entertainment industry wing of Nexus Wealth Partners, where he serves several award-winning actors, writers, sound engineers and Hollywood executives. Abraham brings over 10 years of experience to the team and specializes in helping women in life transitions, families and retirees develop and implement personalized strategies as they work toward their financial goals with confidence.
“We strive to build long-lasting relationships with our clients, offering education and guidance as we build out comprehensive financial plans to address their unique needs and objectives,” Nelson said. “We truly value independence and doing what’s in the best interests of our clients, and we’re fully committed to providing each individual with the highest level of service and expertise.”
The move to LPL followed an eight-month search for a new wealth management firm and was designed to propel the next phase of growth for their business.
“Our decision to join LPL was a strategic one, driven by our quest for a partner that could equip us with the robust technology, vast resources and integrated capabilities to streamline the client experience and elevate our service offering,” Abraham said. “We appreciate the ease of doing business with LPL, both for our team and clients. LPL's integrated platform ensures clients have a streamlined view of their financial landscape, with a single signon where they can find everything within one portal.”
Both Nelson and Abraham are relatively young, at 41 and 32, respectively, and view their transition as an opportunity to attract the next generation of advisors.
“We wanted to partner with a firm that we could stay with for decades and grow,” Nelson said. “We will continue to build out our team, bringing in junior advisors to help educate, mentor and collaborate with. There’s a shortage of advisors and a huge need for qualified financial planning. We believe through LPL and our experience we can fill that gap and grow while maintaining a high level of service to our clients.”
Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome Scott, Kamie and the Nexus team to the LPL community. As their partner, we are committed to delivering innovative technology, integrated platforms and strategic resources to help them to run their practice seamlessly and add value to their clients. We look forward to supporting Nexus Wealth Partners as they continue to grow their business and attract the next generation of advisors to their team.”
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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 more than 23,000 financial advisors, including advisors at approximately 1,000 institutions and at approximately 580 registered investment advisor 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. Nexus Wealth Partners and LPL are separate entities.
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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FAQ
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