LPL is extending its reach in the Southwestern US as it welcomes a breakaway advisor duo to its Strategic Wealth Services program in California.
On Wednesday, the firm announced financial advisors Ryan Kirby and Michael Alvarez have joined its broker-dealer, RIA, and custodial platforms. The duo, who previously worked at US Bank, reported overseeing approximately $540 million in advisory, brokerage, and retirement plan assets.
They will operate under Seapoint Wealth Advisors, an existing firm within LPL’s SWS program.
Kirby and Alvarez, based in San Diego, have worked together for years, with Kirby serving as a mentor to Alvarez early in their careers. Their transition marks a shift to independence, enabling them to build a business rooted in personalized service and client-focused strategies.
“After a long career of learning and growing, we decided independence was the best way for us to deliver advice and enhance services for our clients,” Kirby said in a statement. “As a business owner with the freedom to operate on my own terms, I look forward to offering a more common-sense approach to client relationships and placing their best interest first.”
The advisors have joined Seapoint Wealth Advisors as managing directors and plan to open a new office in downtown San Diego, with sales associate Leon Aceituno offering support.
Highlighting the years-long trend of investment advice becoming commoditized, Alvarez emphasized the value of operating within an independent, open architecture environment.
"We are excited to become part of a community of advisors who share our commitment to excellence," he said, stressing the opportunity to "differentiate ourselves and provide greater focus and personalization for our clients."
Seapoint Wealth Advisors president Chad Taylor expressed excitement as he welcomed the new members of the growing team.
“Their commitment to putting clients first and their focus on building personal relationships make them a great fit for our firm,” Taylor said.
The additions at Seapoint Wealth Advisors build on LPL's recent streak of recruitment, which includes a $410 million next-generation duo who switched from Osaic and another Osaic team that previously managed $800 million in Ohio.
Challenging conditions have limited deals in 2024 but what about next year?
New report reveals trends and challenges that the sector is facing.
Traders are more confident that rates will be cut next week.
Strategists believe economic case is strong enough to win investment.
Appointment would be another plus for digital assets industry.
"The profitability of the CLO is going to be very attractive," said CIO at Flat Rock Global.
"Synth Equity has been such a tailwind for these advisors who really understand the story," Measured Risk Portfolios’ head of distribution said.
