LPL Financial (Nasdaq:LPLA) announced that advisors Michael Stevenson, David Johnson and Nikko Gronhovd of Soundview Wealth Management joined its broker-dealer and RIA platform. They reported serving about $600 million in advisory, brokerage and retirement plan assets and transitioned from D.A. Davidson.
The multigenerational practice chose LPL for its integrated technology, platform flexibility and transparent, client-first alignment. LPL supports more than 32,000 advisors, approximately 1,100 institutions and about $2.3 trillion in brokerage and advisory assets for roughly 8 million Americans.
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Positive
Soundview Wealth Management brings approximately $600 million in client assets to LPL’s platform
Addition of three experienced advisors expands LPL’s advisor base and multigenerational client reach
Negative
None.
News Market Reaction – LPLA
-3.88%
66 alerts
-3.88%Session close to close
-4.0%Trough in 2 hr 50 min
$21.68BMarket Cap
0.8xRel. Volume
In the May 27 session, LPLA declined 3.88%, reflecting a moderate negative market reaction.
Argus tracked a trough of -4.0% from its starting point during tracking.
Our momentum scanner triggered 66 alerts that day, indicating high trading interest and price volatility.
This announcement highlights continued advisor recruitment momentum, as Soundview Wealth Management ...
Analysis
This announcement highlights continued advisor recruitment momentum, as Soundview Wealth Management brings roughly $600 million in client assets onto LPL’s broker-dealer and RIA platforms. It builds on recent additions of other sizable practices and sits within a broader franchise supporting over 32,000 advisors and about $2.3 trillion in client assets. Investors may track how recurring onboarding of multi-hundred-million-dollar teams contributes to long-term asset growth relative to recent monthly metrics and overall platform expansion.
Key Figures
Soundview client assets:$600 millionSupported financial advisors:32,000 advisorsFinancial institutions:1,100 institutions+2 more
5 metrics
Soundview client assets$600 millionAdvisory, brokerage and retirement plan assets reported at end of 2025
Supported financial advisors32,000 advisorsTotal advisors supported by LPL Financial
Financial institutions1,100 institutionsWealth management practices supported by LPL
Client assets$2.3 trillionBrokerage and advisory assets serviced and custodied by LPL
End clients8 million AmericansIndividuals served across LPL’s platform
Davis Executive Wealth joined LPL Strategic Wealth with $635 million in assets.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Recent advisor-growth and activity updates often saw modest, mixed price reactions, with both aligned and divergent moves around similar positive news.
Recent Company History
In the last week, LPL issued several growth-focused updates, including advisor team additions with assets like $1 billion at Cebert Wealth and $870 million at True Compass, plus April metrics showing total client assets of $2.48 trillion. Price reactions ranged from slight declines (e.g., -0.71% on April activity) to gains (e.g., +1.41% on multiple advisor wins). Today’s Soundview Wealth Management onboarding, bringing about $600 million in assets, fits this ongoing advisor and asset-gathering trajectory.
Key Terms
broker-dealer, registered investment advisor, ria, cfp®, +4 more
8 terms
broker-dealerfinancial
"have joined LPL Financial’s broker-dealer and Registered Investment Advisor (RIA) platform."
A broker-dealer is a licensed firm or individual that both executes trades on behalf of clients (acting as a broker) and buys or sells securities for its own account (acting as a dealer). Investors care because broker-dealers provide the plumbing of markets — they place orders, hold or move cash and securities, offer research or advice, and their stability and fees directly affect trade execution, costs, and the safety of client funds; think of them as a combined travel agent and taxi for your investments.
registered investment advisorregulatory
"joined LPL Financial’s broker-dealer and Registered Investment Advisor (RIA) platform."
A registered investment advisor is a professional or firm that provides financial advice and manages investments for clients, operating under regulations that require them to act in their clients' best interests. This designation helps investors identify trustworthy advisors who are legally committed to providing transparent and fair guidance, much like a licensed doctor is bound to prioritize patient well-being.
riaregulatory
"joined LPL Financial’s broker-dealer and Registered Investment Advisor (RIA) platform."
A Registered Investment Adviser (RIA) is a firm or individual licensed to give personalized investment advice and manage client portfolios, held to a legal duty to act in clients’ best interests. Think of an RIA as a trusted financial coach who must put your needs first; investors care because an RIA’s recommendations and fee structure directly affect returns, risk exposure, and trustworthiness.
cfp®financial
"financial advisors Michael Stevenson, David Johnson and Nikko Gronhovd, CFP® of Soundview"
A CFP® is a certified financial planner designation granted to professionals who have met standardized education, experience and ethical requirements for giving personal financial advice. Think of a CFP® as a licensed architect for your money: they design long-term plans for saving, investing, taxes and retirement and are trained to act in a client’s best interest. For investors, a CFP® signals a higher level of competence and accountability when choosing someone to manage or advise on their finances.
finra/sipcregulatory
"Member FINRA/SIPC. Soundview Wealth Management, LLC and LPL Financial are separate entities."
FINRA is the self-regulatory agency that oversees brokerage firms and brokers, enforcing rules and handling disputes to help keep markets fair; SIPC is a nonprofit that acts like a limited insurance safety net, protecting customers' cash and securities if a broker-dealer fails. Investors care because FINRA aims to prevent misconduct and resolve complaints, while SIPC helps recover missing assets, giving investors greater trust that their holdings are monitored and have a backstop.
stock unitsfinancial
"common stock units granted on May 15, 2026. The filing shows two acquisitions of stock units,"
Stock units are individual pieces of ownership in a company, like slices of a pie that together make up the whole business. They matter to investors because each unit represents a claim on the company’s assets, profits and sometimes voting power, and changes in the number or value of these units affect ownership percentages, potential dividends and share dilution — all of which influence an investment’s worth.
restricted stockfinancial
"She acquired 348 shares of restricted stock granted under the company’s 2021 Omnibus"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
form 4regulatory
"[Form 4] LPL Financial Holdings Inc. Insider Trading Activity"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
SAN DIEGO, May 27, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Michael Stevenson, David Johnson and Nikko Gronhovd, CFP® of Soundview Wealth Management, LLC, have joined LPL Financial’s broker-dealer and Registered Investment Advisor (RIA) platform. They reported serving approximately $600 million in advisory, brokerage and retirement plan assets* and join LPL from D.A. Davidson.
The team serves a diverse client base that spans multiple generations, working with individuals and families at all stages of their financial lives. From helping families navigate wealth transitions to guiding younger clients as they begin investing, the team is committed to building long-term relationships grounded in trust and personalized service.
“We are different because of our relationships with clients and how our team works together,” said Johnson. “On the client side, we’ve been fortunate to be part of a practice where many relationships span generations, allowing us to work with families across all stages of life. On our side, it’s a true team approach. We challenge each other, talk things through and make decisions together with the client in mind.”
Soundview Wealth Management takes a comprehensive, planning-focused approach to advice. The advisors emphasize understanding each client’s unique goals and circumstances while helping them filter through market noise and stay focused on long-term priorities.
“Our role goes beyond selecting investments,” said Gronhovd. “We’re here to listen, serve as a sounding board and help clients make thoughtful, informed decisions. By focusing on what matters most for each client, we can provide clarity and confidence throughout their financial journey.”
Why Soundview Wealth Management, LLCChose LPL
The Soundview team chose LPL after exploring opportunities to enhance their technology and operational flexibility. They were drawn to LPL’s integrated platform, transparent approach and ability to support their client-first philosophy.
“When the opportunity to explore LPL came up, it felt worth a closer look,” said Stevenson. “From the start, LPL’s approach was straightforward. They walked us through their technology, the flexibility of the platform and how it supports the way we want to work with clients. Just as important, they outlined a transition plan that felt clear and manageable for the people we serve.”
Marc Cohen, chief growth officer at LPL, said, “We are pleased to welcome the Soundview Wealth Management team to LPL. Their collaborative approach and commitment to serving clients across generations align with LPL’s purpose to empower advisors with the flexibility, technology and support they need to deliver personalized advice and grow their practices.”
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 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.3 trillion in brokerage and advisory assets on behalf of approximately 8 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 http://www.lpl.com/.
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment adviser and broker-dealer. Member FINRA/SIPC. Soundview Wealth Management, LLC and LPL Financial 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, 2025.
What did LPL Financial (Nasdaq:LPLA) announce on May 27, 2026 about Soundview Wealth Management?
LPL Financial announced that Soundview Wealth Management advisors joined its broker-dealer and RIA platform. According to LPL, advisors Michael Stevenson, David Johnson and Nikko Gronhovd transitioned to LPL from D.A. Davidson, expanding LPL’s network of independent financial professionals.
How many client assets does Soundview Wealth Management bring to LPL Financial (LPLA)?
Soundview Wealth Management reported serving about $600 million in client assets before joining LPL. According to LPL, this total includes advisory, brokerage and retirement plan assets, approximated using asset and holding details provided to LPL from the end of year 2025.
Why did Soundview Wealth Management choose LPL Financial’s platform (LPLA)?
Soundview selected LPL to enhance technology and operational flexibility while supporting its client-first approach. According to LPL, the team valued LPL’s integrated platform, transparent approach, platform flexibility and a clearly outlined transition plan designed to be manageable for the clients they serve.
What type of clients does Soundview Wealth Management now serve through LPL Financial?
Soundview Wealth Management serves a diverse, multigenerational client base through LPL’s platform. According to LPL, the advisors work with individuals and families at all life stages, including wealth transitions and early-stage investors, emphasizing comprehensive, planning-focused advice and long-term client relationships.
How large is LPL Financial’s advisor and asset base following the Soundview Wealth Management move?
LPL reports supporting more than 32,000 advisors and about $2.3 trillion in brokerage and advisory assets. According to LPL, the firm also serves roughly 1,100 financial institutions and about 8 million Americans through multiple affiliation models and technology-enabled wealth management solutions.
What services does LPL Financial (LPLA) provide to advisors like Soundview Wealth Management?
LPL provides advisor affiliation models, investment solutions, fintech tools and practice management support. According to LPL, these resources give advisors and institutions flexibility to choose business models, services and technology needed to run and grow independent practices while serving clients on a custodial and brokerage basis.
