LPL Strategic Wealth Services Sees Momentum
At its heart, LPL Strategic Wealth Services 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. Strategic Wealth Services offers the opportunity to realize the benefits of independence without the headaches of entrepreneurship.
LPL offers the independence and flexibility I’ve been craving.
LPL Financial’s breakaway solution for wirehouse advisors is gaining traction. In the past month, LPL announced three new LPL 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 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 Strategic Wealth Services 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, Strategic Wealth Services 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, Strategic Wealth Services offers dedicated individuals who both consult and execute business tasks. They act as an extension of your staff.
Your lineup of Strategic Wealth Services 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, Strategic Wealth Services offers the opportunity to realize the benefits of independence without the headaches of entrepreneurship.
Connect in confidence with one our experienced consultants to learn how LPL can support your move to independence.
Strategic Wealth Services Model
A fully integrated breakaway solution that supports financial professionals in their transition and ongoing success.