LPL Welcomes Lewellyn Wealth

Rhea-AI Summary

LPL Financial (NASDAQ: LPLA) announced that father-son financial advisors Bart and Alex Lewellyn have joined LPL's broker-dealer, RIA and custodial platforms from Osaic, bringing approximately $320 million in advisory, brokerage and retirement plan assets.

Based in Medford, Oregon, the team has rebranded from Lewellyn Financial Management to Lewellyn Wealth. The practice, established by Bart in 1995, provides investment services, retirement planning, insurance strategies, and complex planning services to clients including lineman engineers, business owners, and multigenerational families.

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 on behalf of 6 million Americans.

Positive

• Addition of $320 million in assets under management through new advisor team
• Continued expansion of advisor network, contributing to LPL's growth strategy

Negative

• None.

Insights

Financial Analyst

The acquisition of Lewellyn Wealth, managing $320 million in assets, represents a strategic yet modest addition to LPL Financial's $1.8 trillion asset base. This recruitment aligns with LPL's aggressive growth strategy in the independent advisor space, particularly noteworthy as it comes from competitor Osaic. The transition highlights LPL's continuing ability to attract established practices through its technology platform and operational flexibility. While the $320 million AUM represents just 0.018% of LPL's total managed assets, the acquisition's value extends beyond pure numbers - it demonstrates LPL's sustained momentum in advisor recruitment and ability to attract multi-generational practices. The father-son team's transition particularly showcases LPL's appeal to advisors seeking both independence and institutional backing. This move reinforces LPL's position as the largest independent broker-dealer and its strategy of growing through targeted advisor acquisitions, though the immediate financial impact on LPL's stock price will likely be minimal given the relative size of the acquired assets.

Market Research Analyst

The wealth management industry's competitive dynamics are clearly reflected in this advisor transition. The movement from Osaic (formerly Advisor Group) to LPL indicates the ongoing consolidation trends in the independent broker-dealer space, where scale and technology capabilities are increasingly critical differentiators. The Lewellyn team's focus on lineman engineers and multi-generational families highlights an important niche market strategy that aligns with broader industry trends toward specialized client service models. Looking at the competitive landscape, LPL's ability to attract established practices underscores its strong value proposition in the marketplace, particularly in supporting advisor independence while providing institutional-grade resources. The rebranding to Lewellyn Wealth also reflects an industry-wide shift toward more sophisticated, boutique branding strategies among independent advisory practices, aimed at attracting high-net-worth clients. While this single recruitment won't materially impact LPL's market position, it exemplifies the company's successful execution of its growth strategy in the highly competitive wealth management space.

SAN DIEGO, Jan. 08, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that father and son financial advisors Bart Lewellyn and Alex Lewellyn have joined LPL Financial’s broker-dealer, RIA and custodial platforms. They reported serving approximately $320 million in advisory, brokerage and retirement plan assets* and join LPL from Osaic.

Based in Medford, Ore., Bart established the firm in 1995 to help clients accumulate wealth and invest their assets in a goal-oriented manner. Alex joined the firm in 2012 — something he had been planning since his youth. Together, they provide investment services, retirement planning, insurance strategies and complex planning services to a broad range of clients, including lineman engineers, business owners and multigenerational families.

“Our investment approach is methodical and purposeful,” Alex explained. “Our goal is to provide our clients with a comprehensive understanding of the investment options available to them, focusing on those with the greatest potential for success. We prioritize what’s most important to them, which in turn allows clients to spend more time living their life and doing what they enjoy.”

Looking for a new wealth management firm, the Lewellyn’s embarked on an extensive due diligence process that led them to LPL.

“We always wanted our name on the door, discretion, independence and the ability to operate in our clients’ best interests,” Alex said. “LPL’s standing as a leading wealth management firm ensures that we have all of that, as well as access to innovative technology, support and flexible solutions. We are confident that this transition will enable us to maintain our commitment to the highest level of service for our clients.”

With the transition to LPL, the team rebranded its practice from Lewellyn Financial Management to Lewellyn Wealth. Their refreshed logo features a stag, representing growth and protection, which Alex says, “reflects how we view ourselves as protectors of our clients’ wealth.”

Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome Bart and Alex to LPL and look forward to supporting the growth and success of their practice. LPL is a champion for advisors, and our vision is to be the best firm to help our clients define and maximize their success throughout the entire lifecycle of their businesses. We do this by delivering personalized support, integrated capabilities and a flexible operating environment to help advisors expand their value proposition and build stronger connections with clients.”

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. Lewellyn 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 #675948

FAQ

How much in assets did Lewellyn Wealth bring to LPL Financial (LPLA) in January 2024?

Lewellyn Wealth brought approximately $320 million in advisory, brokerage and retirement plan assets to LPL Financial.

What is LPL Financial's (LPLA) current total assets under management in 2024?

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

How many financial advisors does LPL Financial (LPLA) support as of 2024?

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

Which firm did the Lewellyn team leave to join LPL Financial (LPLA)?

The Lewellyn team joined LPL Financial from Osaic.

What services does Lewellyn Wealth offer through LPL Financial (LPLA)?

Lewellyn Wealth offers investment services, retirement planning, insurance strategies, and complex planning services through LPL Financial.