LPL Financial and Raymond James have each added new advisory teams to their platforms, reflecting continued movement among independent wealth management firms as advisors seek greater flexibility and resources.
LPL Financial recently welcomed the Waznik Heike Group, an 11-advisor team based in Menomonie, Wisconsin, with additional offices in Durand, Superior, Eau Claire and Rice Lake.
The group, led by partners Brad Waznik and John Heike, previously reported roughly $750 million in advisory, brokerage and retirement plan assets.
The team joins LPL from Osaic and brings more than one hundred years of combined industry experience.
Waznik and Heike, who reunited in 2024 to launch their own practice, lead a team that includes Gene Larock, Steve Helling, Kyle Thorpe, Jon Storing, Tyler Schroyer, Coltin Brehm, Jerry Hagman, Bryan LaVoy and Sam Ferch, along with support staff.
The group emphasizes a personalized approach to wealth management, working primarily with clients who are approaching or in retirement.
“My favorite part of this job is connecting with our clients in a meaningful and purposeful way,” Heike said in a statement announcing the move. “Many of our clients are nearing or in retirement, and they have questions about how to be financially responsible while making the most of their golden years.”
LPL's new additions in Wisconsin come shortly after the firm onboarded an $870 million duo from Baird in Nebraska.
Raymond James has also expanded its independent advisor channel with the addition of Emir and Amela Culov, a husband-and-wife advisor duo in Buffalo, New York. The Culov Wealth Management team, which previously managed about $230 million in client assets at Wells Fargo Advisors, is joined by client service manager Surrena Taylor and client service associate Jade Pomroy.
Emir Culov brings more than twenty-four years of experience to the practice, having worked at firms such as HSBC and Morgan Stanley before his most recent role at Wells Fargo. The team provides personalized financial planning to a range of clients, including business owners, healthcare professionals, families and individuals, as well as those nearing or living in retirement.
In Logan, Utah, Raymond James also added Eric Holbrook from D.A. Davidson & Co., where he managed over $150 million in assets. Holbrook, who leads Holbrook Wealth Strategies, is joined by client service associate Abigail Davis and receptionist Jan Lofthouse. His practice serves a variety of clients, including families, business owners and individuals experiencing sudden wealth, with a focus on comprehensive financial guidance.
Recently, Raymond James also recruited a Merrill Lynch breakaway in Florida to its employee advisor channel, Raymond James & Associates.
Choice anxiety, prestige bias, and the temptation to make selections based on outsourced confidence are just some of the parallels between investing and the world of wine tasting.
Regulators found Bank of America's monitoring software had a known flaw Merrill left uncorrected for years.
While AI has become a go-to research tool for affluent investors, new HSBC research suggests human advisors remain the deciding voice when investment decisions are made.
A 5-4 ruling preserves the Federal Reserve's independence for now, but the legal fight over presidential removal power is far from settled.
For years, large firms have been facing penalties and questions from regulators over interest rates for clients’ cash accounts.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
