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.
Deal brings 10 advisors and deeper family office reach to Austin market.
Mega-RIA to adopt AI workforce at enterprise scale as firm rethinks growth without hiring.
As Goldman Sachs tightens rules on event contract trading, RIAs and hedge funds are weighing their own policies
Meanwhile, Wells Fargo lures defectors from UBS and JPMorgan to expand in the East Coast, while another bank aligns itself with RayJay's financial institutions division.
New research suggests AI-exposed workers over 55 are leaving jobs more often than before ChatGPT’s rise.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
