A wealth advisor who started his firm when he was just out of college is looking ahead to the next phase of his business’ evolution.
Jason Johnson started 509 Wealth Management in 1998 and has grown it organically over almost a quarter of a century with Ameriprise but has decided to become the latest firm to join LPL Financial’s broker-dealer, RIA and custodial platforms.
Johnson, who reports serving approximately $400 million in advisory, brokerage and retirement plan assets, says that he decided to switch as the franchise model was not how he wanted to manage the next phase of his business.
The firm has registered offices in Spokane and Kennewick, Washington, and Coeur d'Alene, Idaho, and Johnson’s team includes three support staff.
Johnson says he will benefit from LPL’s innovative capabilities and back-office support to elevate his services. And he says it’s important that LPL does not sell proprietary investment products, giving him greater flexibility.
“Ultimately, I have a greater layer of independence and freedom to work with each individual client, understand their goals and come up with my own strategies to help take care of their unique financial needs,” he said.
Scott Posner, executive vice president of business development at LPL Financial, added that his firm’s philosophy is that independent advisors should have the ability to run their businesses on their own terms.
“We are committed to meeting advisors where they are in the evolution of their practice by providing them with differentiated tools and integrated capabilities to help them deliver meaningful, customized services to their clients,” he said.
The firm has also appointed Mike Browning and Sean Brennan as co-presidents to its US operations as it looks to proceed with an ambitious five-year growth plan.
Meanwhile, Kestra partner Coastline Wealth Management passes a milestone in its geographic expansion with a former Ameriprise team in New York.
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