Five advisors managing $550M switch to LPL from Ameriprise  

Five advisors managing $550M switch to LPL from Ameriprise  
Ohio-based team has more than 115 years of combined industry experience.
NOV 03, 2023

LPL Financial has gained a team of five advisors previously with Ameriprise, managing approximately $550 million in client assets.

Advisors Paul LaBanc CFP, CRPC, AAMS, AWMA and Donald Grassi CRPC, AAMS, AWMA, first went into partnership in 2001 before founding ViewPoint Wealth Partners.

The firm now also includes advisors Michael Kozlowski CRPC, Brian Miller CFP, CRPC, APMA and Jennifer Bower CRPC, along with director of client relations Theresa Guerini and two support staff members.

Grassi explained the decision to switch firms having vetted several potential firms.

“As we grow our team, we wanted to find the best place to continue our legacy and bring on the next generation of advisors,” he said. “With LPL, we have more ownership of our business, along with full control in how we operate. We have access to best-in-class technology that’s continuously evolving with the industry, in turn creating efficiencies so we can spend more time with clients.”

LPL GAINS

Scott Posner, LPL’s EVP of Business Development, welcomed the ViewPoint team, following two other teams joining the firm’s channels in the past week.

Financial advisors John Lankford and Justin Pestel, CPFA, of Pathway Wealth Advisors in Wichita Falls, Texas, joined LPL Financial’s broker-dealer, RIA, and custodial platforms with approximately $125 million AUM. They were previously with Osaic’s Woodbury Financial.

And financial advisor Carmen Pontelandolfo joined LPL’s employee advisor channel, Linsco by LPL Financial, to launch CJP Wealth Management of LPL Financial, having served approximately $135 million at Morgan Stanley.

“At LPL, we recognize that advisors know their clients best. We’re committed to providing ultimate choice and flexibility in how advisors run their business, and we do that by offering a range of innovative capabilities and robust business resources to help them serve clients as they see fit.”

LPL has attracted several high-value teams in the past month including a $1 billion firm in Atlanta that had been with Fifth Third for more than a decade.

The firm’s CEO Dan Arnold also recently spoke of the “opportunity” presented by the integration of advisors working with TD Ameritrade onto Charles Schwab’s custody platform.

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

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.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

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.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities 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.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

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.