Wells Fargo loses $145 million advisor to LPL

Wells Fargo loses $145 million advisor to LPL
Broomall, Pennsylvania-based David W. Rodgers moves for “breadth and depth of services.”
JUL 12, 2023

LPL Financial has announced yet another financial advisor joining its platform. David W. Rodgers has joined LPL Financial’s broker-dealer, RIA and custodial platforms, aligning with Independent Advisor Group, and comes with $145 million in advisory, brokerage and retirement plan assets.

Broomall, Pennsylvania-based Rodgers, who is joining LPL from Wells Fargo Advisors, where he was senior vice president, says he has grown his practice organically by providing goals-based, personalized financial planning for families, individuals and business owners.

“I focus heavily on financial planning and putting the right investment strategies in place to help clients work toward their goals and make the most of their investments,” Rodgers said in a statement.

“During the due diligence process, I quickly became impressed with LPL’s depth and breadth of resources, particularly the robust financial planning platform, top-tiered investment strategies and research,” he said in the statement. “It was clear that LPL would put my clients in the best position as they seek to maximize their returns and reduce risks, all while receiving a higher level of service. I’m also fortunate to be joining an experienced group of advisors at IAG and will have access to a seasoned support team, localized services, guidance and oversight so that I can stay focused on clients.”

Rodgers started his career in financial planning as an advisor with UBS in 2008.

LPL have made a number of similar announcement over the last few weeks, including Jason Johnson ($400 million in AUM), the Sopher team ($200 million) and Indiana’s Scott Hartman and Adam Johnston ($375 million), to name just a few.

Traits and technologies advisors need to know before going solo

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

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.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave