With approximately $100 million in assets under management, the Lakeway, Texas, based firm was transferred July 2, though the move was announced yesterday.
Andrew Gonski, principal of Trestlebridge, had worked with Ameriprise for 15 years, but Bill Morrissey, executive vice president of business development for LPL, said he chose to leave to “evolve his practice.”
“He wanted to go independent and he began the due-diligence process by looking at different business models,” Mr. Morrissey said.
Mr. Gonski chose to go with a hybrid model.
“He’s using LPL as his broker-dealer, holding his licenses and processing his brokerage business through us,” Mr. Morrissey said. “And he’s using [Flagship Harbor] for his RIA fee-based business.”
Mr. Gonski worked with Flagship Harbor’s principal at Ameriprise, so Mr. Morrissey wasn’t surprised by what he considered a “seamless transition.”
Mr. Morrissey said that he think the hybrid model is a good choice for Mr. Gonski’s “institutional-type investment model, which involves leveraging [exchange-traded funds], individual securities, alternative investments — a risk-managed strategy.”
When Mr. Gonski started considering leaving Ameriprise, he consulted with LPL on how best to move forward.
“Andrew came to LPL after thorough due diligence, he came to LPL because the hybrid [office of supervisory jurisdiction] model best fit his needs,” Mr. Morrissey said. “It gives him a lot of flexibility and control over how he controls his economics locally, as well as how he interacts with his clients.”