LPL has made a valuable addition to its independent employee advisor unit as it welcomes an elite athlete-turned-advisor from Bank of America Private Bank.
On Wednesday, LPL announced that financial advisor Alberto Francis has joined its high-net-worth-focused employee affiliation model, LPL Private Wealth Management.
Francis, who previously worked with Bank of America Private Bank, reported managing approximately $725 million in advisory, brokerage, and retirement plan assets.
The Houston-based advisor chose to refocus his career from private banking to investments and personalized financial services. His work puts him in touch with a diverse base of high-net-worth clients, including business owners, executives, athletes, and professionals in the medical and legal fields.
“I’ve had an entrepreneurial mindset for a long time and am excited to finally have my own practice where I can prioritize client relationships and truly put their interests first," Alberto said in a statement Wednesday. "I’ve gained the necessary business experience to make a successful move into the independent space and look forward to having more control over the next chapter of my career."
With his move to LPL, Francis has established Rockview Private Wealth, choosing the name "Rockview" in honor of the Irish landscape surrounding his ancestral estate.
Francis, the son of Irish and Mexican immigrants, is a former NCAA Champion and All-American tennis player from UCLA, with a professional career that included an appearance at Wimbledon.
He transitioned from sports and entered the financial services industry in 2011, spending a brief stint as a broker at JPMorgan before transitioning to Merrill Lynch, Pierce, Fenner & Smith, according to his BrokerCheck profile. Since then, he has built a robust practice by forging strong client relationships and delivering positive outcomes.
"I am looking forward to accessing a broader range of services and resources to offer more nuanced and sophisticated plans," Francis said. "The ability to craft dynamic, client-focused strategies without the limitations of proprietary products means I can focus on what’s best for my clients and their futures."
A relatively new division at the wealth giant, LPL Private Wealth was unveiled in November as an affiliation program specifically tailored for high-net-worth clients.
“Through this model, high-net-worth-focused advisors get the support infrastructure of a W2 model while also enjoying the financial benefits of independence, including book ownership, upfront payouts and legacy building, all backed by the stability of a Fortune 500 company,” Anna Howard, LPL’s senior vice president of private wealth, explained at the time.
LPL boasts a host of benefits for advisors at LPL Private Wealth including “a comprehensive array of services and support,” “industry-leading payouts,” “client ownership and business autonomy,” and “an exclusive high-net-worth advisor community.”
Shorter waits for failed SIE and Series 7 candidates take effect Jan. 19, speeding the path to registration
Raymond James and Cetera also welcomed advisors from UBS and LPL as competition for experienced teams stays fierce
Jim Walesa worked in the securities industry for 39 years before leaving in 2021.
As the market turned from pricing in cuts to betting on hikes this year, the developing reality of a K-shaped economy has had real implications for households and investors alike.
Alleged cash payments, stolen client data, and a court that jumped the gun
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
