LPL has deepened its high-net-worth advisory bench with a pair of breakaway advisors from Merrill Lynch.
On Tuesday, the broker-dealer behemoth announced the addition of Auctus Legacy Private Wealth Management to its high-net-worth-focused employee affiliation model, LPL Private Wealth Management.
This newly launched practice is led by financial advisors Alain Verhille and James Wood, who previously managed $705 million in assets at Merrill Lynch. The team is based in Oklahoma City, Oklahoma.
Verhille and Wood, with over 50 years of combined industry experience, cater to a primarily high-net-worth clientele. Their approach centers on comprehensive planning aimed at optimizing wealth and reducing risk for multi-generational families. Joining them are certified senior advisors Erikka Moore and Kathy Isernhagen.
“Our firm brings the right expertise, experience, and clarity to the table to find paths forward for clients,” Verhille said in a statement. “We’re helping extraordinary people stay extraordinary.”
The long-time business partners emphasize the strength of their professional relationship, which they believe enhances their client connections.
“We are like a family, and our relationship with each other doesn’t stop at 5 p.m. on Friday,” Wood noted. “We understand the value of building genuine relationships, knowing one another and what’s important to clients. I believe our clients feel like we give them a very good opportunity to have a path to succeed in their goals.”
Verhille and Wood moved to LPL Private Wealth Management as they sought a blend of independence and support. Offering extensive services and support for client services and business growth, LPL’s affiliation model also provides high-net-worth advisors with industry-leading payouts, client ownership, and business autonomy.
The firm’s high-net-worth affiliation model also includes more focused support for advanced estate and philanthropic planning, income tax strategy, trustee services, and alternative investments platform, as well as banking and lending solutions and complex life insurance planning.
On Monday, LPL notched another win in California as it welcomed two veteran advisors from Cetera. Prior to that, LPL expanded its profile in Texas as a former Lincoln advisor joined its ranks.
Meanwhile, Raymond James and Tritonpoint Partners separately welcomed father-son teams, including a breakaway from UBS in Missouri.
Paul Atkins has asked staff to solicit public comment on novel ETFs, pausing the clock on as many as 24 filings linked to the booming event contracts market.
From 401(k)s to retail funds, Deloitte sees private equity and credit crossing into mainstream investing on two fronts at once.
Big-name defections from Morgan Stanley, UBS, and Merrill Lynch headline a busy two weeks of recruiting for the wirehouse.
Markets have always been unpredictable. What has changed is the amount of information investors are trying to process and the growing role advisors play in helping clients avoid emotional decisions
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
