WWK Investments' Leaving Schwab Spotlights LPL’s Support

Last Edited by: LPL Financial

Last Updated: March 03, 2021

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WWK Investments was founded in 1974. So why did they shut down their $675m hybrid RIA to set up shop at LPL?

RIA Expertise Makes a Difference

Consolidation of custodial providers continues to impact financial advisors, prompting some RIA firms to consider the future of their businesses. CitywireRIA recently highlighted why the Charles Schwab/TD Ameritrade merger prompted WWK Investments to completely shut down its hybrid RIA to join LPL.

Dan Welch, WWK’s president, worried that the Schwab/TD Ameritrade merger would result in reduced service and new fees. “We just didn’t think Schwab was going to be a good fit for us and for our clients,” he said. “Being able to put both firms under one roof in a place like LPL that doesn’t have any proprietary products – and the technology they have – it was a good fit.”

Why are RIAs choosing LPL?

As the third-largest RIA custodian*, LPL is the only leading custodian that’s 100% advisor focused. We offer services others may not, providing RIAs of every size a business partner who can assist with:

  • Tactical strategy implementation
  • Access to capital
  • Mergers and acquisitions support
  • Tailored technology stacks
  • Options to run your own compliance and risk management program or outsource it to LPL’s Corporate RIA

The other key advantage that WWK has found is that LPL Financial understands the real value of an advisor. Your relationships are your greatest asset. You should own them and engage with them on your terms.

LPL stands behind you and your relationships – never in the middle. Our focus is to elevate independent financial advice by making advisors our only priority.

*Cerulli Associates, 2019 U.S. RIA Marketplace Report

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