Team managing $550 million at Northwestern Mutual goes indie with LPL

Gatewood Wealth Solutions, a 13-person team managing $550 million at Northwestern Mutual in St. Louis, has gone independent and affiliated with LPL Financial's broker-dealer and corporate registered investment adviser platforms. [More: See more adviser moves in InvestmentNews' Advisers on the Move database] Founder John Gatewood, who launched the practice in 1981, said the move was made to access technology that the firm needed to support its planning and advisory focus, as well as to permit advisers Daniel Goeddel, Brian McGeehon, Christina Shockley and Aaron Tuttle to receive equity in the business. Mr. Gatewood said his group was one of the leading teams at Northwestern Mutual. [More: Ed Slott: Make sure your small business clients consider this before they convert IRAs to Roths]​