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Strategic Wealth Services Sees Momentum

LPL Financial

At its heart, Strategic Wealth Services (SWS) is a breakaway solution to help wirehouse advisors go independent. But it’s so much more—it’s a team of LPL partners who run advisor businesses on their behalf. SWS offers the opportunity to realize the benefits of independence without the headaches of entrepreneurship.

LPL offers the independence and flexibility I’ve been craving.

- Larry Boggs, President and Founder, Boggs & Company Wealth Management

LPL Financial’s breakaway solution for wirehouse advisors is gaining traction. In the past month, LPL announced three new Strategic Wealth Services teams: Boggs & Company Wealth Management, Arise Private Wealth, and PBC Private Wealth.

With the addition of these two firms, the Strategic Wealth Services (SWS) model now supports:

  • 30 advisors
  • $4.94 billion assets serviced

As these numbers rise, major publications are beginning to take notice. On June 22, Barrons published an article recognizing the progress SWS has made. From the article LPL’s Wirehouse Breakaway Unit Gains Traction, Signs $1.3 Billion Wells Fargo Team:

It was a smart move by LPL to develop [Strategic Wealth Services], says recruiter Louis Diamond, who has placed advisors with the firm.

Wirehouse breakaways “need a more turnkey structure to launch their businesses,” says Diamond, president of Diamond Consultants. “They often don’t know where to start when it comes to finding office space, employee benefits, coming up with a brand, setting up an LLC, setting up a 401(k), and buying furniture. This provides a lot of infrastructure—scaffolding—to help advisors who aren’t ready to do it on their own.”

The article also notes that Boggs interviewed more than 15 firms before choosing LPL, saying, “LPL offers the independence and flexibility I’ve been craving.”

So what is Strategic Wealth Services?

At its heart, SWS is a breakaway solution to help wirehouse advisors go independent. But it’s so much more—it’s a team of LPL partners who run your business on your behalf. Unlike other service models, SWS offers dedicated individuals who both consult and execute business tasks. They act as an extension of your staff.

Your lineup of SWS practitioners includes a business strategist who is your primary point of contact, technology partners who strategize your tech stack and handle your IT, a CFO who manages your business’s financial assets and strategy, an executive marketing partner who drives strategy and execution for all of your practice marketing, and more.

For wirehouse advisors, SWS offers the opportunity to realize the benefits of independence without the headaches of entrepreneurship.

To learn more about Strategic Wealth Services, check out the Strategic Wealth Services page or contact your business development consultant for a confidential conversation.

Confidentially connect

Connect in confidence with one our experienced consultants to learn how LPL can support your move to independence.

SWS Model

A fully integrated breakaway solution that supports financial professionals in their transition and ongoing success.

LPL Technology

Automate time-consuming processes and tasks to improve your business’ overall efficiency and accuracy.