A pair of financial advisors is launching a new independent practice with LPL Strategic Wealth Services, having managed around $265 million at RBC.
Trevor Johnson and Brian Russo have joined LPL’s supported independence model to start Steeplechase Capital Partners with offices in Newtown Square, Pennsylvania, and Windham, New Hampshire.
The duo has been working together since 2011, building a practice that serves primarily professional athletes, high-net-worth families, and small business owners in service-based industries and Johnson regularly appears on CNBC specializing in sports and entertainment industries.
Their passion for horse racing is reflected in the name of their firm but also in its culture: “There is a special bond between a horse and its rider that’s built on mutual trust and confidence, not unlike the relationship we strive to cultivate with our clients,” the firm’s website states.
The advisors, who are joined in the practice by senior investment administrative associate Kim Brennan, decided it was time to break free from the wirehouse environment two years ago having recognized a shift in the financial services landscape.
They decided on LPL after months of interviewing potential wealth management firms to partner with.
“Our affiliation with LPL equips us with innovative technology, cutting-edge business solutions and a wealth of other resources to help us provide a greater level of personalized service,” Russo said. “As an independent firm, we have the freedom to innovate, adapt and truly shape our business around the evolving needs of our clients, giving them exactly what they deserve and want. This means clients get the best of both worlds — the personalized touch of a boutique firm and the robust offerings of a major financial entity.”
The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.
The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.
Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.
With more than $13 billion in assets, American Portfolios Advisors closed last October.
Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
