LPL Strategic Wealth Adds $265M Team From UBS

A Princeton, N.J.–based advisory duo departed UBS to affiliate with LPL’s Strategic Prosperity Expert services, the big independent broker/dealer declared.

Leslie Shenkler and Daryl Lipkin collectively managed about $265 million in advisory and brokerage belongings just before building the shift to LPL, the place they will make the new impartial practice Alcove Private Prosperity. The duo will be joined by Eileen Smith, who’ll serve as customer expert services manager. 

The duo initially teamed up in 2010, but only not too long ago started out looking to acquire their practice unbiased. Lipkin said the duo liked how Strategic Prosperity advisors can obtain LPL’s platform, as perfectly as the company assist Strategic Prosperity presents groups with the instant concerns of commencing a new observe. Lipkin said Strategic Wealth was “a great sweet spot” for the burgeoning company.

Shenkler has worked in the fiscal providers marketplace for additional than 25 several years, with a designation of Chartered SRI Counselor from the Discussion board for Sustainable and Liable Financial commitment. Lipkin worked in corporate finance for extra than 20 many years in advance of starting to be a monetary advisor in the wake of the 2008 economic crash.

Additionally, past week LPL declared that the Pasadena, Calif.–based organization Floe Money Companions would return to LPL immediately after a stint with Wells Fargo Advisors. The organization has about $345 million in advisory, brokerage and retirement belongings and involves monetary advisors Robert Floe and Marjan Neyestani Khazra, as effectively as directors Chase Edwards and Anthony Minero and a four-human being assistance employees.

In accordance to LPL, Floe Monetary interviewed 18 separate firms when seeking a partner ahead of determining to return to associate with the independent broker/supplier. LPL said the new firm would rely on LPL for back-business office aid, which includes administration and internet marketing applications. The company also ideas to choose advantage of LPL’s support for M&A.

“The interactions we’ve constructed with our shoppers span yrs, some even a long time, so it was essential to align with a company that will aid them, both now and for generations to occur,” Floe reported about the deal.

Previously this thirty day period, LPL attracted Texas-dependent advisors Richard DeYoung and Jessica Boehm, who managed about $280 million in belongings and also joined LPL from Wells Fargo, to form Highland Wealth Companions.