CHARLOTTE, N.C. – April 19, 2021 – LPL Financial LLC today announced that Walnut Beech Advisors has joined LPL Financial’s broker-dealer, corporate registered investment advisor (RIA) and custodial platforms. The team reported having served approximately $550 million in advisory, brokerage and retirement plan assets*. They join from Royal Alliance, part of the Advisor Group network of broker-dealers.
Led by OSJ manager Tim Maurer and Managing Partner Rick Betancourt, the newly-formed enterprise comprises of 20 like-minded financial professionals committed to putting their clients first. The team was associated at their previous firm and recognized the value of teaming up in an effort to provide more comprehensive wealth management and financial services for their clients. The new firm name, Walnut Beech Advisors, represents the streets where their offices are located in Rochester, Mich., and Long Beach, N.Y.
All in at LPL Financial
The team has been moving to LPL in waves since last fall, with its final advisor joining this month. They said the new partnership with LPL offers more freedom and independence to share ideas and work together on client cases. It also opens up the ability to co-brand as a tax-focused OSJ group, where they can work closely with CPAs and enrolled agents who complement their investment strategies and financial plans.
“As a millennial advisor, I’m really excited about how much LPL invests in innovative technology. My clients are requiring more and more sophisticated digital capabilities, and the ability to easily access their accounts and information from any device. We are confident LPL will be able to keep up with the latest tools and resources available,” Betancourt said. “We’ve already been able to incorporate some of the newer technologies to help streamline our business.”
Now that the team is fully onboard, its leaders are planning for future growth and expansion. “This new partnership with LPL allows us to deepen our business continuity and succession planning,” Maurer said. “I am fortunate to work with many of my mentors. I want them to feel secure that their clients are in good hands so that they can enjoy the later stages of their distinguished careers.”
Ken Hullings, LPL Financial senior vice president and head of enterprise recruiting, said, “We extend a warm welcome to Tim, Rick and the entire Walnut Beech team, and we congratulate them on the launch of their new OSJ group. They were looking for a partner with stability that is highly committed to supporting their success and future growth. By making ongoing investments in technology, service, wealth management resources and business solutions, LPL can help our advisors maximize the value of their practice and address the evolving needs of their clients. We look forward to a long-lasting and productive partnership with the financial professionals at Walnut Beech Advisors.”
Read about other firms that recently joined LPL in the LPL Financial News and Media section of LPL.com.
Advisors, find an LPL business development representative near you.
About LPL Financial:
LPL Financial is a leader in the retail financial advice market, the nation’s largest independent broker-dealer** and a leading custodian (or provider of custodial services) to RIAs. We serve independent financial advisors, professionals and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.
*Based on prior business and represents assets that would have been custodied at LPL Financial, rather than third-party custodians. Reported assets and client numbers have not been independently and fully verified by LPL Financial.
**Based on total revenues, Financial Planning magazine June 1996-2020.
Securities and advisory services offered through LPL Financial LLC, an SEC- registered broker-dealer and investment advisor. Member FINRA/SIPC.
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 LLC. We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.
Walnut Beech Advisors and LPL Financial are separate entities. LPL Financial does not offer tax advice or tax related services.