More advisor movement across the independent and hybrid wealth channels announced in the last 24 hours with LPL Financial, Raymond James and Ascentis Wealth Management each reporting additions that collectively represent more than $900 million in client assets.
LPL Financial has welcomed Jason Mochi of Shoreline Private Wealth Management to its broker-dealer and RIA platform. Based in Santa Monica, California, Mochi has more than 30 years of industry experience and joins the mega-RIA from Morgan Stanley where he looked after client assets of around $275 million.
“Shoreline offers a white glove, boutique, family focused office experience, built on personal attention and long-term relationships rather than transactional interactions,” said Mochi. “We emphasize clarity, comprehensive planning, and an environment where independence keeps the client’s best interest at the center of every decision.”
The Shoreline team also includes client relationship manager Janet Waller.
Meanwhile, Raymond James has added an experienced advisor team overseeing approximately $682 million in assets to independent channel Raymond James Financial Services.
Financial advisors Reed Thompson, David Erwin, John Pratti, John Nolan, Patrick Sheehan and Jillian Feehan operate as Touchpoint Financial Advisor Group in Woburn, Massachusetts. They are the latest team to make the switch to RJFS from Commonwealth Financial Network.
Feehan and Thompson had been with their previous firm for more than a decade with Erwin clocking up 16 years. All three have long-term industry experience. Nolan and Sheehan are more recent additions to financial services with nine and four years in the industry respectively.
The advisor team is joined by client service manager Susan Nolan, who is married to advisor John Nolan, branch operations coordinator Phyllis McGee and client service associate Jennifer Rothwell.
Finally, Ascentis Wealth Management, part of Ascentis Holdings, is welcoming Ascentis Family Wealth, a newly launched Dallas-based advisory firm led by Kevin Gray.
Ascentis Holdings formally launched last month as a unified platform bringing together Ascentis Wealth Management, Ascentis Asset Management and Ascentis Independent Advisors under one umbrella.
Once all client assets are transferred, Ascentis Family Wealth is expected to manage roughly $250 million. The firm is a member of Advisory Services Network, LLC, which will provide the firm with operations solutions and compliance support.
Gray, who takes an equity stake in Ascentis Wealth Management, previously founded Veracity Capital and served as chief executive officer. Prior to that he spent more than 12 years at Ayco Private Wealth Management of Goldman Sachs & Co., rising to vice president.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
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