LPL Financial Welcomes Financial Advisor William Fenwick

Rhea-AI Summary

LPL Financial announced that William "Bill" Fenwick of Fenwick Financial has joined LPL Financial's broker-dealer, RIA and custodial platforms. Fenwick, a retired U.S. Marine Corps officer with 38 years of experience in financial services, reported serving approximately $210 million in advisory, brokerage and retirement plan assets. He joins LPL from First Kentucky Securities.

Fenwick's decision to join LPL was driven by his commitment to the fiduciary standard and LPL's resources to support advisors. His son, William "Trey" Fenwick, III, plans to join the practice in the coming months, ensuring continuity for clients. Scott Posner, LPL Executive Vice President, Business Development, welcomed Fenwick and highlighted LPL's support for advisors' growth and succession plans.

Positive

• William Fenwick brings $210 million in assets to LPL Financial
• Fenwick's son plans to join the practice, ensuring generational continuity
• LPL's platform supports growth and succession planning for advisors

Negative

• None.

SAN DIEGO, Oct. 22, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC, announced today that financial advisor William “Bill” Fenwick of Fenwick Financial has joined LPL Financial’s broker-dealer, RIA and custodial platforms. He reported serving approximately $210 million in advisory, brokerage and retirement plan assets,* and joins LPL from First Kentucky Securities.

Based in Louisville, Ky., Fenwick is a retired U.S. Marine Corps officer with 38 years of experience in the financial services industry. He believes his military experience, coupled with his astute study of the markets and economy, shaped his ability to guide clients through market fluctuations and build personal relationships that extend across generations.

“The leadership skills and sense of responsibility gained from serving in the Marine Corps overlap into financial services,” Fenwick said. “Veterans in our industry tend to have a deeper understanding of service and advocacy, which is the foundation for a fiduciary-focused investment practice. I enjoy educating my clients and making a difference in their lives by providing advice and counseling them on important financial decisions.”

Although Fenwick was a founding member and part owner of First Kentucky Securities, a regional brokerage firm, he came to realize his business needs and client expectations were outgrowing the firm. He sought a new partner to take his business to the next level, and his due diligence process led him to LPL.

“The industry has gone through significant change over the past decades. What was once a focus on sales has now shifted to prioritizing the client’s needs,” said Fenwick, who is supported by his wife, Karen, and registered assistant Patricia Hughes. “The fiduciary standard is something I’ve been drawn to from the start. I am committed to serving my clients as an advisor and investment manager with their best interests at heart, offering a foundation of honesty and integrity. The longevity of my practice is a testament to the confidence my clients have in me and my team.”

He added, “The shared mission and dedication to client service at LPL resonate with our own, and we are proud to be associated with a partner of such high caliber. LPL’s commitment to providing advisors with the resources and support they need to be successful was a key factor in my decision to make this move. I look forward to continuing to grow my practice and to helping my clients pursue their financial goals.”

With an eye to the future, Fenwick said the move was not merely a strategic decision for his practice today, but also a foundational one for its future. His son, William “Trey” Fenwick, III, recently returned from his service in the U.S. Army Special Forces (Green Beret) and plans to join the practice in the coming months, helping to ensure clients are taken care of for generations to come.

Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome Bill to LPL and thank him for his many years of military service. The acceleration of advisors moving to LPL from regional firms is a testament to the strong support we provide to help financial professionals realize their growth and succession plans. We look forward to supporting Bill’s team and their goals for the future as they build out a generational practice with clients top of mind.”

Related

Advisors, learn how LPL Financial can help take your business to the next level.

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. Fenwick Financial 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.

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

Tracking #645012

FAQ

How much in assets did William Fenwick bring to LPL Financial (LPLA)?

William Fenwick reported serving approximately $210 million in advisory, brokerage and retirement plan assets when joining LPL Financial.

What was William Fenwick's previous affiliation before joining LPL Financial (LPLA)?

William Fenwick was previously affiliated with First Kentucky Securities before joining LPL Financial.

What is William Fenwick's background in the financial services industry?

William Fenwick is a retired U.S. Marine Corps officer with 38 years of experience in the financial services industry.

Why did William Fenwick choose to join LPL Financial (LPLA)?

Fenwick chose LPL Financial due to its commitment to providing advisors with resources and support for success, aligning with his focus on the fiduciary standard and client service.