LPL Financial Welcomes The Capitol Bay Group

Rhea-AI Summary

LPL Financial (NASDAQ:LPLA) has announced that The Capitol Bay Group, previously with Ameriprise, has joined their platform through Upstream Investment Partners. The team, led by John Yetman and Manish Mukhi, brings approximately $375 million in managed assets and 70 years of combined experience.

Based in Tysons, Virginia, the team specializes in serving high-net-worth clients, business owners, and retirees, offering comprehensive financial planning services. The Capitol Bay Group, recognized by Forbes as one of the Best-in-State Wealth Management Teams in 2024 and 2025, chose LPL for its independence, broader investment options, and client-focused culture.

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SAN DIEGO, Sept. 09, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that the advisors of The Capitol Bay Group have joined Upstream Investment Partners, an existing firm supporting LPL-affiliated advisors. They reported serving approximately $375 million in advisory, brokerage and retirement plan assets* and join LPL from Ameriprise.

Based outside of Washington, D.C., in Tysons, Va., the team is led by John Yetman, CIMA®, and Manish Mukhi, APMA™. The duo brings 70 years of experience and focuses on high-net-worth clients, business owners and retirees. They offer holistic planning, including retirement, estate and business planning, as well as a broad selection of investment options and risk management solutions. They have been recognized by Forbes as one of the Best-in-State Wealth Management Teams for 2024 and 2025.

Mukhi explained, “Our approach allows us to view clients' entire financial situations rather than focusing solely on specific investments. We begin by identifying clients’ priorities, such as retirement, education or significant purchases. Our goal is to assist families in expressing their objectives and to develop plans that address both present and future requirements.”

Why The Capitol Bay Group Chose LPL

Seeking more independence, autonomy and more tools to offer to their clients, the team, supported by Operations Manager Sherrye Bussel, turned to LPL Financial.

“We chose LPL for three reasons: independence, more investment options and their standout culture,” said Yetman. “LPL values client relationships and considers clients as belonging to advisors. We also appreciate LPL’s tools, which are essential for effective money management and financial planning.”

Scott Posner, managing director of business development at LPL, said, “I’d like to extend a warm welcome to John and Manish. At LPL, we continue to invest in new capabilities and solutions designed to help advisors grow their businesses, personalize their practices and deliver differentiated service experiences to their clients. We look forward to supporting The Capitol Bay Group as they evolve their business and make a positive impact on the lives of their clients.”

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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 over 29,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $1.9 trillion in brokerage and advisory assets on behalf of approximately 7 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 LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. The Capitol Bay Group, Upstream Investment Partners 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. Ox Road Capitol and LPL are separate entities.

We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

* Value approximated as reported to LPL

Media Contact: 
Media.relations@LPLFinancial.com

Tracking #787420

FAQ

How much in assets did The Capitol Bay Group bring to LPL Financial (LPLA)?

The Capitol Bay Group brought approximately $375 million in advisory, brokerage and retirement plan assets to LPL Financial.

Why did The Capitol Bay Group choose to join LPL Financial?

The team chose LPL Financial for three main reasons: independence, broader investment options, and their client-focused culture.

Who are the key leaders of The Capitol Bay Group joining LPL?

The team is led by John Yetman, CIMA®, and Manish Mukhi, APMA™, who bring 70 years of combined experience.

What recognition has The Capitol Bay Group received?

The Capitol Bay Group has been recognized by Forbes as one of the Best-in-State Wealth Management Teams for 2024 and 2025.

What types of clients does The Capitol Bay Group serve at LPL?

They focus on serving high-net-worth clients, business owners and retirees, offering holistic planning including retirement, estate and business planning services.