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.
With doors being opened through new legislation and executive orders, guiding clients with their best interests in mind has never been more critical.
Meanwhile, Stephens lures a JPMorgan advisor in Louisiana, while Wells Fargo adds two wirehouse veterans from RBC.
Large institutions are airing concerns that everyday investors will cut into their fee-bargaining power and stakeholder status, among other worries.
Fights over compensation are a common area of hostility between wealth management firms and their employees, including financial advisors.
Plaintiff's lawyers are eying both broker-dealers for potential client complaints.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
