Trio overseeing $150M at Ameriprise jumps to LPL

Trio overseeing $150M at Ameriprise jumps to LPL
The team, which is rebranding as Momentum Wealth, is based in The Villages, Florida.
NOV 27, 2023

A trio of advisors managing $150 million in assets at Ameriprise made the move to LPL Financial and will use its broker-dealer, RIA and custodial platforms, the firm announced Monday.

Rob Elstad, Steve “Coert” Van Voorhees and Bill Blankenship were formerly known as Van Voorhees Elstad & Associates. With the move, they are rebranding as Momentum Wealth.

The firm is located in The Villages, Florida, which is one of the largest retirement communities in the U.S., and focuses on serving retirees, providing them with a range of services including financial planning, investment management, estate planning, tax planning strategies and charitable giving.

“We recognized a shift in the industry and felt the franchise system wasn’t working for us anymore,” Van Voorhees said in a statement. “LPL gives us more freedom and flexibility in how we operate so we can focus entirely on our clients without corporate influence. Our ultimate goal for the practice is to take care of clients first and service them the way they want to be served.”

Van Voorhees has 17 years of experience, all with Amerprise, according to his BrokerCheck report. Elstad has 22 years of experience and had been affiliated with Ameriprise since 2015. Blankenship has 22 years of experience and had been with Ameriprise since 2014.

Other teams that have joined LPL from Ameriprise recently include five Ohio-based advisors managing $550 million and a New York-based father-son team overseeing $180 million.

Here are the technologies advisors must have to connect with clients

Latest News

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

Vestmark, BlackRock, iCapital, and Dynasty forge four-way private market partnership
Vestmark, BlackRock, iCapital, and Dynasty forge four-way private market partnership

The collaboration will give RIAs yet another access point into the alternatives space through a new unified managed account capability.

DeVoe: Record-breaking RIA M&A run led by private equity's consolidator comeback
DeVoe: Record-breaking RIA M&A run led by private equity's consolidator comeback

A drop in interest rates and easier access to capital has reignited appetite among private equity-backed consolidators, who accounted for 53% of RIA deals so far this year- their highest share since 2021 according to DeVoe & Company.

Trump ‘Crypto Week’ advances as house conservatives end blockade
Trump ‘Crypto Week’ advances as house conservatives end blockade

Hardliners give way to pressure to approve consideration of bills.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

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.