Equitable has strengthened its wealth advisory presence in California with a pair of former Lincoln advisors, including a four-decade veteran of the industry.
The national wealth firm with over 4,300 financial professionals and more than $91 billion in AUM announced Wednesday that it has welcomed Gary Stemple and Kendyl Roundtree to its wealth management division, Equitable Advisors.
Stemple and Roundtree transitioned from Lincoln Financial Advisors, where they reportedly managed a combined $177 million in client assets.
Based in Southern California, the duo was attracted to Equitable Advisors' comprehensive planning model. Stemple, with 36 years of experience, has a long history of offering financial and retirement planning. He has been working alongside Roundtree for over five years, integrating her into his succession plan.
“As Kendyl and I looked to the future, we selected Equitable Advisors because it shares our values of personalized care and commitment to our clients’ overall financial well-being,” Stemple said in a statement. “It gives me peace of mind knowing that my clients will be in good hands for generations to come.”
Roundtree, who has over a decade of experience, specializes in financial planning, investments, retirement planning, and estate planning strategies. She has been leading Roundtree Financial since 2020 after taking over the business from her father, Dan Roundtree.
“Since I took the helm of Roundtree Financial, I’ve been dedicated to carrying out the vision that my dad set for the business more than 40 years ago, which considers our clients’ sense of purpose, physical and emotional wellness in addition to finances,” Roundtree said.
She lauded her new firm's holistic advice model and broad range of products, resources and support as key pieces to help continue the firm's original direction.
“Gary and Kendyl are seasoned professionals who oversee practices with a rich history of making a positive difference in their clients’ lives," said John Lefferts, head of business development at Equitable Advisors. "We look forward to supporting them on the next chapter of their journey together.”
The news at Equitable Wednesday comes on the heels of another move at LPL, which snagged a $4.6 billion mega-advisor team from Lincoln in North Carolina.
In March, Equitable welcomed a boomerang advisor in California as an advisor who recently managed $181 million in assets at Cetera made his return.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
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.
