LPL Financial Welcomes Winston Wealth Advisors

Rhea-AI Summary

LPL Financial announced the addition of Winston Wealth Advisors, led by David B. Winston, to its platforms, bringing approximately $300 million in brokerage and advisory assets. The firm, established 25 years ago, aims to enhance client service through LPL's technology and resources. Winston plans to grow by acquiring retiring advisors' practices in Texas, leveraging LPL's extensive network of over 16,000 financial professionals. LPL continues to emphasize its commitment to supporting financial advisors with innovative tools and robust service.

Positive

• Winston Wealth Advisors brings $300 million in assets under management.
• The integration of LPL's technology is expected to enhance client service and operational efficiency.
• Plans for growth by acquiring practices from retiring advisors indicate a strategic expansion in Texas.

Negative

• None.

CHARLOTTE, N.C., May 06, 2020 (GLOBE NEWSWIRE) -- LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced that industry veteran David B. Winston of Winston Wealth Advisors and his team have joined LPL’s broker-dealer and corporate registered investment advisor (RIA) platforms, which includes LPL custodial services. They reported having served approximately $300 million in brokerage and advisory assets*. They join from Securities America, part of the Advisor Group network of broker-dealers.

Winston founded the company 25 years ago with modest beginnings and has since purchased two practices from retiring advisors. With registered offices in Lubbock and Dallas, Texas, Winston Wealth Advisors has grown to include financial professionals Dianna Dunlap, Ashley Hougland, Tara Kincaid and Jacob Winston, David’s son. Cassie Hererra provides client support.

“Our mission is to serve our clients by creating detailed financial plans, diversified portfolios and unparalleled service,” Winston said, noting the firm serves families from all backgrounds. “We take a listening approach to really take the time to understand each family’s unique situation. Then we provide objective, caring and thoughtful guidance to help clients with every aspect of their financial lives.”

The team recognized LPL’s commitment to providing advisors with innovative technology and robust resources designed to enhance the client experience and to help advisors thrive. “We look forward to using LPL’s technology platform and taking advantage of how easy it is to use. Our clients will love having one access point to review their account holdings through a very friendly and attractive digital solution. There is no doubt the integrated technology will help us be more efficient as we respond to our clients’ needs.”

With LPL’s network of more than 16,000 financial professionals, Winston is looking to methodically grow the business by acquiring practices from retiring advisors. “The pool of prospects at LPL is huge as we make plans to grow in Texas,” he said.

Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, said, “We welcome the team at Winston Wealth Advisors to the LPL family. Their enduring friendships and business partnerships are the foundation for a successful business, which is focused on relationships. David has built a successful business organically and through acquisitions, and it is a privilege to be their chosen partner to take this next step of their journey. Our commitment to service and ongoing investments in our financial professionals’ businesses is unwavering, and we look forward to being a long-term partner to our clients.”

Read about other firms that recently joined LPL in the LPL Financial News and Media section of LPL.com.

Advisors, find an LPL business development representative near you.

About LPL Financial
LPL Financial (https://www.lpl.com) is a leader in the retail financial advice market and the nation’s largest independent broker-dealer**. We serve independent financial advisors, professionals, and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.

Securities and Advisory services offered through LPL Financial, a registered investment advisor. Member FINRA / SIPC.

Winston Wealth Advisors and LPL Financial are separate entities.

*Based on prior business and represents assets that would have been custodied at LPL Financial, rather than third-party custodians. Reported assets and client numbers have not been independently and fully verified by LPL Financial.

**Based on total revenues, Financial Planning magazine June 1996-2019

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Media Contact:
Lauren Hoyt-Williams
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Lauren.Hoyt-Williams@lpl.com

FAQ

What assets are managed by Winston Wealth Advisors after joining LPL Financial?

Winston Wealth Advisors brings approximately $300 million in brokerage and advisory assets.

Who is the leader of Winston Wealth Advisors that joined LPL Financial?

David B. Winston is the founder and leader of Winston Wealth Advisors.

What is LPL Financial's role for Winston Wealth Advisors?

LPL Financial provides Winston Wealth Advisors with broker-dealer and corporate registered investment advisor platforms, along with custodial services.

How does Winston Wealth Advisors plan to grow its business after joining LPL Financial?

Winston Wealth Advisors plans to grow by acquiring practices from retiring advisors in Texas.