Multigenerational Merrill Lynch trio joins LPL in California

LPL is broadening its reach in the Southwestern US as it welcomes a multigenerational family of breakaway advisors in California.

The wealth juggernaut announced Monday that financial advisor Tom Russell and his sons, Brian Russell and Charles Russell, have joined its employee advisor arm.

The multigenerational trio were previously with Merrill Lynch, where they reportedly oversaw $250 million in assets. In joining LPL, they’re launching their own eponymous practice, Russell Wealth Partners, which will be operating at the broker-dealer giant’s San Diego campus under the Linsco model.

Tom Russell, who spent the bulk of his 38 years of industry experience gaining tenure at Merrill Lynch, expressed his enthusiasm about this new chapter.

“It is so rewarding to have my sons by my side to continue the family legacy,” Russell said in a statement. “They are both wonderful assets to the team and are helping us take it to the next level as we create more hands-on, boutique experiences for clients.”

Charles and Brian Russell, who initially pursued careers in engineering and law respectively, joined their father in the wealth management industry, sharing his passion for helping families achieve financial success. Their aim is to offer personalized investment plans tailored to each client’s unique needs, goals, and objectives.

Seeking to build their ideal future practice, the Russell team turned to Linsco by LPL for its innovative technology, enhanced service experiences, and the autonomy to focus on their clients' best interests.

The model provides financial advisors with independence, access to LPL’s integrated wealth management platform, and robust business resources.

Apart from supporting their “entrepreneurial mindset” and “flexibility … to put clients’ best interests at the forefront,” Tom Russell emphasized the transition’s long-term benefits for the family business.

 “I’m confident this move will help ensure my sons will be set up for success right away and 20 years from now,” the seasoned advisor said.

Prior to the launch of Russell Wealth Partners in San Diego, LPL’s June recruitment rally included a former Corebridge Financial advisor in Texas and an ex-Ameriprise advisor in Michigan.