LPL has just broadened its reach yet again in the California market by signing a breakaway advisor from JPMorgan.
On Monday, the wealth giant announced the addition of Garrett Oczachowski, a seasoned financial advisor, to its network.
Oczachowski, who previously managed approximately $280 million in advisory, brokerage, and retirement plan assets at JPMorgan Chase, tapped into LPL’s broker-dealer, RIA and custodial platforms to launch Noble Traditions Wealth based in Santa Monica, California.
The firm, which focuses on retirement income planning and comprehensive wealth management, represents LPL's latest strategic expansion in the Southwest US.
"My commitment is to forge robust, enduring connections with those I serve, delivering tailored investment strategies and retirement plans that align with their distinct aspirations and requirements," Oczachowski said in a statement.
"The firm's dedication to independence and its client-focused philosophy are in perfect harmony with my own principles,” said Oczachowski, a 25-year veteran of the industry, highlighting the autonomy LPL offers.
He also praised LPL’s technology and the ability to tailor business practices as pivotal in his decision to join the firm.
“Independence is akin to a blank canvas, and LPL equips us with the finest 'paint colors' from across the globe. It allows us to do business with ease, thereby empowering us to direct our focus on client needs,” Oczachowski added.
His move to join LPL is the latest win for the firm, which in the past week completed its acquisition of Crown Capital’s $5 billion wealth business and signed an $830 million team from Janney Montgomery Scott.
The move in Santa Monica probably won’t sting too much for JPMorgan at the moment, however, as it just nabbed an elite ex-Merrill Lynch advisor who manages a massive $28 billion book of business.
Despite a lighter regulatory outlook and staffing disruptions at the SEC, one compliance expert says RIA firms shouldn't expect a "free pass."
Carson has fully acquired another firm in Florida, while Simon Quick Advisors finds its third perfect-fit partner in a Las Vegas-based boutique.
FINRA has been focused on firms and their use of social media for several years.
The model has surged in popularity thanks to its fiduciary appeal, but the show is far from over for no-fee and commission-based arrangements.
Asset managers filing to launch dual share-class mutual funds, creating an ETF sleeve for existing strategies, could end up eroding key benefits of the wrapper.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
