LPL expands in Michigan with ex-Ameriprise advisors

LPL has made another addition to its employee advisor network in the Northeast with a pair of breakaway advisors.

The wealth giant announced Wednesday that financial advisors Todd Cousino, Nicholas Hawk, and Charles Moyer have joined its employee advisor channel, Linsco by LPL Financial, to establish Cousino Wealth Advisors.

The advisors are joining LPL from Ameriprise, where they reportedly managed approximately $265 million in advisory, brokerage, and retirement plan assets.

Based in Brownstown, Michigan, Cousino and Hawk have collaborated since 2015, with Moyer joining the team in 2020. Through a collaborative approach, they have developed their practice with comprehensive financial planning and wealth management services, using a bucket strategy aimed at growing and preserving their clients' wealth.

Senior client services associate Terri Rowe joins them in their new venture, which according to Cousino primarily focuses on clients in the engineering and automotive sectors.

“We take great pride in the strong relationships we’ve built with our clients, and we are committed to providing them with the highest levels of service and advice,” Cousino said in a statement.

 “Our goal is to always be client-first, and we want to continuously increase and evolve their experience,” he added, pointing to LPL’s technology and integrated capabilities as a chance to “automate our workflow” and free up time for clients.

Rather than build their own independent practice, Cousino and his colleagues chose to affiliate with the Linsco model. The model offers the core principles of independence such as owning client relationships and maintaining flexibility in managing their practice, as well as access to business resources and support from a branch management team.

LPL’s addition in Michigan comes on the heels of its recent expansion in New Mexico with a multigenerational practice led by a $265 million advisor from Edward Jones.