LPL plants new stake in New York with $400M Wedbush team

LPL has planted another stake in the City that Never Sleeps as it welcomes a pair of advisors from Wedbush to its employee advisor division.

The firm announced Tuesday that Ken Hutkin and Ron Winkler, financial advisors from Wedbush Securities, have joined Linsco by LPL Financial, establishing 57th Street Wealth Advisors in New York City.

Operating within the first-ever Linsco office in the Big Apple, Hutkin and Winkler bring extensive industry experience, reportedly managing approximately $400 million in advisory, brokerage, and retirement plan assets between them at their previous firm.

Hutkin, with over 30 years of experience in business ownership, aims to leverage his background to develop tailored financial strategies for his clients. Winkler, who founded Winkler & Co. CPAs, brings nearly 40 years of expertise in tax and financial planning. Their shared entrepreneurial focus shapes their approach to financial advisory services.

In a statement, Winkler highlighted 57th Street's "commitment to both the execution of strategies and our service model" as "a process-driven, holistic multi-generational financial planning and asset management team.”

The 57th Street team also includes client services associate Margarita Santiago and wealth associates Nathan Wild and Noah Hutkin. The advisors chose to join Linsco for the added autonomy it offers while utilizing LPL Financial’s wealth management platform and resources.

“We are truly setting up our practice for the future — both for our clients and legacy,” Hutkin said.

LPL's move in New York bolsters its streak of additions so far in September, including a $650 million group that left Ameriprise in Arizona and a $700 million duo  from Bank of America that joined LPL's high-net-worth employee advisor division in Long Island.

Last week, the firm also amped up its capacity to support its client service and operations teams with a new 43,000-square-foot home office in Tempe, Arizona.