Adam Hutchinson and Robert Gibbs, who managed $215 million at Morgan Stanley, have gone independent and affiliated with LPL Financial through River Edge Wealth Partners, an office of supervisory jurisdiction on the LPL platform.
The two will be based at River Edge’s office in Redbank, New Jersey.
"Together, Hutchinson and Gibbs bring over 27 years of experience to the Red Bank, N.J.-based River’s Edge group," LPL Financial said in a press release Thursday.
Thirty four percent of advisors surveyed by InvestmentNews say they use direct indexing strategies but 39 percent don’t.
“This is on the B. Riley Securities side of the business, the dealmaking side,” one senior industry executive said.
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"Synth Equity has been such a tailwind for these advisors who really understand the story," Measured Risk Portfolios’ head of distribution said.
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