LPL adds Cetera team managing $180 million in assets

LPL adds Cetera team managing $180 million in assets
Flemington, New Jersey-based Amwell Ridge Wealth Management was founded in 1996 by managing partner David Johnston.
MAY 18, 2023

A New Jersey team that managed $180 million in client assets at Cetera Financial Group has affiliated with LPL Financial and is aligning with another LPL firm, Bleakley Financial Group, LPL announced Thursday.

Amwell Ridge Wealth Management in Flemington was founded in 1996 by managing partner David Johnston. He and a team of four specialize in working with people 55 and older on preparing for retirement.

Johnston has 26 years of experience, according to his BrokerCheck profile, and had been affiliated with Cetera since 2020.

In a statement, Johnston explained the move as an effort to keep up with the challenges the firm faces.

“As our clients’ needs expand, regulatory landscape evolves, and technology advances, it’s vital we have a robust infrastructure to support these areas,” he said. “Our partnership with Bleakley Financial Group and LPL will bolster our wealth management, financial planning and investment operations.”

Latest News

Blue Owl Capital, Voya strike private market partnership for retirement plans
Blue Owl Capital, Voya strike private market partnership for retirement plans

The collaboration will focus initially on strategies within collective investment trusts in DC plans, with plans to expand to other retirement-focused private investment solutions.

Top Commonwealth advisor to recruiters: Stop with the cold calls already!
Top Commonwealth advisor to recruiters: Stop with the cold calls already!

“I respectfully request that all recruiters for other BDs discontinue their efforts to contact me," writes Thomas Bartholomew.

Why AI notetakers alone can't fix 'broken' advisor meetings
Why AI notetakers alone can't fix 'broken' advisor meetings

Wealth tech veteran Aaron Klein speaks out against the "misery" of client meetings, why advisors' communication skills don't always help, and AI's potential to make bad meetings "100 times better."

Morgan Stanley, Goldman, Wells Fargo to settle Archegos trades lawsuit
Morgan Stanley, Goldman, Wells Fargo to settle Archegos trades lawsuit

The proposed $120 million settlement would close the book on a legal challenge alleging the Wall Street banks failed to disclose crucial conflicts of interest to investors.

Fintech bytes: Envestnet taps Quackenbush for C-suite role, TIFIN unveils global LLM hub
Fintech bytes: Envestnet taps Quackenbush for C-suite role, TIFIN unveils global LLM hub

Sue Quackenbush brings more than 25 years of leadership experience to "align people strategies with a growth-oriented culture" at Envestnet.

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.