LPL Financial Welcomes Johns Creek Financial

Rhea-AI Summary

LPL Financial (NASDAQ: LPLA) has announced that financial advisors Brian J. McGill, II, CFP®, and Michael R. Hyser, CFP®, have joined LPL's broker-dealer, RIA and custodial platforms from Kestra. Based in Alpharetta, Ga., their firm Johns Creek Financial serves approximately $385 million in advisory, brokerage and retirement plan assets.

Founded in 2002, Johns Creek Financial specializes in investment services, tax strategies, retirement and estate planning for high-net-worth families, corporate executives and business owners. The advisors chose LPL for its comprehensive services, advanced technology solutions, investment management platform, and robust resource capabilities for high-net-worth services.

LPL Financial currently supports over 28,000 financial advisors and approximately 1,200 financial institutions, managing about $1.8 trillion in brokerage and advisory assets for 6 million Americans.

Positive

• Addition of $385 million in managed assets to LPL's platform
• Strategic expansion in high-net-worth market segment
• Continued growth in advisor recruitment

Negative

• None.

Insights

Financial Analyst

LPL Financial's recruitment of Johns Creek Financial, managing $385 million in assets, represents a strategic addition to their advisor network. While the immediate financial impact on LPL's $1.8 trillion in total assets is modest (0.02%), the acquisition's value lies in its qualitative aspects.

The high-net-worth focus of Johns Creek Financial aligns with LPL's strategy to capture more profitable client segments. High-net-worth clients typically generate higher fees and have more complex needs, leading to multiple revenue streams through various services like estate planning and tax strategies. This acquisition could potentially generate annual revenues in the millions, considering typical fee structures for wealth management services range from 0.50% to 1.50% of assets under management.

This recruitment also demonstrates LPL's continued execution of its growth strategy in a highly competitive wealth management industry where scale and technological capabilities are increasingly critical. The firm's ability to attract established practices from competitors like Kestra validates its platform's appeal and could signal future recruitment success.

However, investors should note that while advisor recruitment is positive, the true measure of success will be client retention and asset growth under the new platform. The integration process and ability to leverage LPL's technology and resources will be important factors in realizing the full potential of this addition.

SAN DIEGO, Jan. 22, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Brian J. McGill, II, CFP®, and Michael R. Hyser, CFP®, have joined LPL Financial’s broker-dealer, RIA and custodial platforms. They reported serving approximately $385 million in advisory, brokerage and retirement plan assets* and join LPL from Kestra.

Based in Alpharetta, Ga., Johns Creek Financial was initially founded in 2002, with Hyser and McGill later merging their practices in 2019. Both advisors have extensive experience in investment services, tax strategies, retirement and estate planning for high-net-worth families, corporate executives and business owners. They are supported by wealth management assistants Stacie Alexander and Alexis Griffin.

“We offer holistic planning and customized portfolios that address each client’s needs, risk tolerance and timelines,” Hyser said. “I truly believe that if you have worked very hard to achieve monetary success, your financial plan should guide you on how to best enjoy that success now and ensure it will last a lifetime.”

The advisors turned to LPL to elevate their business and enhance experiences for their team and clients.

“We chose to join LPL Financial because of its breadth of services and support, along with its advanced technology solutions that will help with the ease of doing business,” McGill said. “We appreciate LPL’s investment management platform, which gives us access to all the top managers, and we look forward to being able to use the firm’s robust resource capabilities and high-net-worth services to address more complex matters. We believe that LPL is the right partner to help us with our growth objectives, and we look forward to providing clients with the highest level of service.”

Scott Posner, LPL Executive Vice President, Business Development, said, “We extend a warm welcome to Brian and Michael and wish them success with this next chapter of their business. At LPL, we will continue to invest in industry-leading capabilities and solutions designed to help advisors differentiate their businesses, bring added value to their clients and win in their markets. We look forward to supporting the entire team at Johns Creek Financial for years to come.”

Related

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About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 28,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.8 trillion in brokerage and advisory assets on behalf of 6 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.

Securities and advisory services offered through LPL Financial (LPL), a registered investment advisor and broker dealer, member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States. Johns Creek 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, 2024.

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

Tracking #682665

FAQ

How much in assets did Johns Creek Financial bring to LPL Financial (LPLA)?

Johns Creek Financial brought approximately $385 million in advisory, brokerage and retirement plan assets to LPL Financial.

When did Johns Creek Financial join LPL Financial (LPLA)?

Johns Creek Financial joined LPL Financial on January 22, 2025, transitioning from Kestra.

What is the total amount of assets managed by LPL Financial (LPLA) as of 2025?

LPL Financial services and custodies approximately $1.8 trillion in brokerage and advisory assets.

How many financial advisors does LPL Financial (LPLA) support?

LPL Financial supports more than 28,000 financial advisors and approximately 1,200 financial institutions.

What services will Johns Creek Financial gain access to through LPL Financial (LPLA)?

They will gain access to LPL's investment management platform, advanced technology solutions, robust resource capabilities, and high-net-worth services.