LPL has grown its profile in the Lone Star State yet again as an entrepreneurial veteran aligns with one of its existing partners.
The firm announced Monday that Kelly Compton, a financial advisor based in San Antonio, has aligned his practice with existing firm Client Centric Wealth Management, a part of Upstream Investment Partners.
Compton comes to the firm after reportedly managing $150 million in advisory and retirement plan assets and establishing ownership of his RIA, WCM Wealth Management, which custodied with Schwab Advisor Services.
With a background in the hospitality industry, Compton initially built his financial acumen as a partner in a restaurant enterprise before entering the financial services field in 2000 as an advisor at Morgan Stanley.
From there, he broke away to independence in 2006 and later founded a fee-only practice in 2011. As the chief investment officer of WCM Wealth Management, Compton focused on serving business professionals and executives by offering customized, risk-based investment strategies tailored to his clients’ goals.
“As my book of business has grown, it became increasingly clear that I needed to find a way to scale my practice while maintaining the high level of service that my clients have come to expect,” Compton said in a statement Monday.
After a thorough search, he found LPL and Client Centric Wealth Management, with its “community of like-minded advisor, were “natural fits” for his practice.
“I’m impressed with LPL’s size and scale, as well as its commitment to providing advisors with innovative tools and flexibility in how we work with clients,” he added. “This new partnership with Client Centric Wealth Management will help ensure business continuity for generations to come.”
LPL’s deal in Texas extends an already busy month of recruitment at the broker-dealer giant, which most recently included a deal creating a superteam of 30 former Lincoln Financial advisors from Osaic and a $375 million independent team that switched over from Wells Fargo.
Also, wealth.com enters Commonwealth's tech stack, while Tifin@work deepens an expanded partnership.
Back office workers and support staff are particularly vulnerable when big broker-dealers lay off staff.
The fintech giant is doubling down on its strategy to reach independent advisors through a newly created leadership role.
The two firms are strengthening their presence in California with advisor teams from RBC and Silicon Valley Bank.
The high court's decision rebuffing Alpine Securities marks a setback for a broader challenge to Wall Street's reliance on self-regulatory organizations.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
