A trio of Salt Lake City-based financial advisors with nearly $1 billion in advisory, brokerage and retirement plan assets are joining LPL Financial from Wells Fargo Advisors, the independent broker/dealer announced today.
Jason Howard, Shane Kunz and Chad Horn will create an independent practice called Outcome Private Wealth and align with Stratos Wealth Partners, an independent RIA that advises through LPL. The three consultants have worked together for more than a decade, and will transition to their new LPL-affiliated practice along with four support staff members. Horn previously worked as a medical sales manager, and switched careers after her own financial planner inspired her to set up her own practice.
“We are a true team with the same core values, and we built this practice with a laser focus on financial results for our clients,” he said of the new firm.
Howard originally joined Wells Fargo 20 years ago, As per their BrokerCheck ProfileWhereas Kunjo And horn Were associated with the firm from 2006 and 2011 respectively. Howard, Kunz and Horn said LPL sealed the deal with its technical capabilities and willingness to grant autonomy to affiliated firms, and the team hoped the move would help them boost growth through M&A. help can be found.
“After learning about all the additional resources from LPL and Stratos—everything from trading capabilities to client management software to additional tax-based financial planning tools—it was impossible to stay afloat,” he said. “In a changing environment, we wanted to bring more to the table.”
The move from Wells Fargo to LPL is the latest in several similar moves over the past six months. last month, A Texas-based advisory pair Wells Fargo left to form a new exercise affiliated with LPL Strategic Wealth Services, with approximately $275 million in managed assets. In September, an advisory team based out of new jersey also joined SWS to form Shoreline Wealth Management; The group managed $305 million and came from Wells Fargo. One of SWS’s biggest teams was also joined by Wells Fargo; Last June, Larry Boggs, An MD-based consultant with an AUM of $1.3 billion, left Wells after four decades for LPL.
Independent broker/dealer claims a strong fourth quarter in 2021 During the most recent earnings call, after admitting $17 billion in assets during that time, doubled their 2020 total, with $89 billion for the full year. The total number of consultants increased to 19,876 with over 1,200 consultants onboard after LPL Waddell and Reed Acquisition, Rich Steinmeier, a managing director and board chairman, business development for LPL, estimated that the number of advisory employees is likely to exceed 20,000 by the end of the first quarter of 2022.
