A duo of millennial advisors have made the decision to switch firms and hope to encourage other younger advisors to follow them.
LPL Financial has welcomed Nexus Wealth Partners, led by managing partners Scott D. Nelson, CFP, MBA and Kamie Abraham, CFP, MBA, who have left Osaic where they managed $410 million. Aged 41 and 32 respectively, they are relatively young, although they have 18 and 10 years of industry experience, respectively.
Their age is relevant because of their clear ambitions to grow a team of next-gen industry professionals.
“We wanted to partner with a firm that we could stay with for decades and grow,” Nelson said. “We will continue to build out our team, bringing in junior advisors to help educate, mentor and collaborate with. There’s a shortage of advisors and a huge need for qualified financial planning. We believe through LPL and our experience we can fill that gap and grow while maintaining a high level of service to our clients.”
Nelson and Abraham join the firm’s broker-dealer, RIA and custodial platforms in Westlake Village, California, along with four support staff. They spent eight months researching which firm would be a good fit for their practice.
“Our decision to join LPL was a strategic one, driven by our quest for a partner that could equip us with the robust technology, vast resources and integrated capabilities to streamline the client experience and elevate our service offering,” Abraham said. “We appreciate the ease of doing business with LPL, both for our team and clients. LPL's integrated platform ensures clients have a streamlined view of their financial landscape, with a single sign-on where they can find everything within one portal.”
The two managing partners have distinct areas of specialism with Nelson leading Nexus Wealth’s entertainment practice and boasts several award-winning actors, writers, sound engineers and Hollywood executives among his clients. Abraham specializes in helping women in life transitions, families and retirees develop and implement personalized strategies as they work toward their financial goals with confidence.
"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.
Elsewhere, Sanctuary Wealth recently attracted a $225 million team from Edward Jones in Colorado.
The giant hybrid RIA is elevating its appeal to advisors with a curated suite of alternative investment models, offering exposure to private equity, private credit, and real estate.
The $40 billion RIA firm's latest West Coast deal brings a veteran with over 25 years of experience to its legacy division for succession-focused advisors.
Invictus fund managers allegedly kept $10 million in plan assets after removal, setting off a legal fight that raises red flags for wealth firms.
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.
