LPL Financial has added a Texas-based practice to its independent advisor network while simultaneously losing an experienced team to Ameriprise Financial, highlighting the continued tug-of-war for advisors and assets across the wealth management industry.
Texas Wealth Solutions, led by Brian Bogue, has joined LPL’s independent platform, bringing approximately $235 million in advisory, brokerage, and retirement plan assets from PNC Wealth Management. The move marks the launch of a new independent practice aligned with LPL’s model of combining autonomy with integrated support.
“LPL’s integrated platform, combined with the flexibility to run my practice the way I want, will allow me to better serve my clients and continue growing my business,” said Brian Bogue, founder of Texas Wealth Solutions.
The firm said Bogue turned to LPL for its technology, strategic resources, and ability to support long-term growth while maintaining continuity for clients.
At the same time, Ameriprise Financial announced it has recruited the $110 million AUM Pinnacle Wealth Management from LPL’s network.
The Lafayette, Louisiana-based team is led by private wealth advisor Vincent Lauer and includes advisor Hank Morvant and client service associate Emily Currier. The group brings over 50 years of combined industry experience.
“Ameriprise offers the right combination of technology, service, and support to help us deliver deeper, more personalized advice,” said Vincent Lauer, Private Wealth Advisor at Pinnacle Wealth Management. “The firm’s integrated platform brings everything together in one place, allowing us to spend less time managing systems and more time focused on our clients.”
The team said its decision to join Ameriprise was driven by a desire to enhance its digital capabilities and create additional opportunities for practice growth.
The back-to-back moves illustrate how recruiting gains can be offset by departures, even for the largest independent broker-dealers. While LPL continues to attract breakaway advisors seeking independence and scale, competitors such as Ameriprise are capitalizing on technology and integrated platforms to lure teams away.
The deal creates one of the largest independent RIA footprints in the Philadelphia metro region, with more than $30 billion in combined client assets.
Elsewhere, Osaic and Ameriprise each recruited family-owned practices previously affiliated with LPL and Thrivent.
Divorce is a financial inflection point, not just a legal one and wealth managers need to be part of the process from day one
Nearly three quarters of US households hold tax-advantaged retirement accounts as IRA assets reach $18 trillion.
Robinhood is adding Cortex for Advisors across TradePMR, bringing AI-powered portfolio analysis and tax insights to advisors, while executives say regulatory constraints still prevent AI from directly managing client assets.
As $84 trillion prepares to change hands, advisors who treat estate planning as peripheral are quietly building a sieve, not a book.
In volatile markets, the advisors who win aren't the ones with the best calls - they're the ones whose clients stay the course.
