LPL Adds FA with Over a Billion in Assets
LPL Financial has brought on a financial advisor managing around $1.1 billion, the company says.
Moving his Sherman Oaks, Calif.-based practice, Trace Wealth Advisors, to LPL will allow him to focus on a smaller number of high net worth clients by leveraging LPL’s technology services and its virtual administrative services, according to LPL.
“The future of wealth management is going to be more transparent and driven by technology,” Heilbron says in the press release. “LPL’s independent platform is ahead of the curve. The fee-only model provides me the freedom to run my business my way.”
He then moved to RBC Capital Markets in 2009 and stayed there until 2013, not registering with another firm until now, according to BrokerCheck and the SEC’s Investment Adviser Public Disclosure database.
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B. Riley Wealth Management Adds FA in Texas
B. Riley Wealth Management has poached a financial advisor from US Capital Advisors, B. Riley says.
Myles Scott has joined B. Riley’s Houston office as a senior vice president, according to a press release from the firm.
He had been an associate director at US Capital Advisors, serving entrepreneurs, senior executives, business owners, affluent families and family offices, B. Riley says.
He left the wirehouse for US Capital Advisors in 2012, according to BrokerCheck.
“What’s happening in Houston is happening all across our national footprint,” Craig Pirtle, B. Riley’s managing director, says in the press release. “Quality advisors with sophisticated practices across the country are choosing B. Riley Wealth Management. We continue to add leading advisors who want to grow their businesses within a firm structure that supports their clients and significantly expands their reach.”
Established in 1996, Memphis, Tenn.-based B. Riley now has 280 associate professionals working out of 20 offices in 13 states, according to the press release.
Along with Scott, B. Riley also poached US Capital Advisors’ Michael McConnell for its investment banking arm, B. Riley says in the press release.
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Three Arizona Wealth Management Practices Merge
Scottsdale, Ariz.-based Wilde Wealth Management has expanded into Tucson, Ariz., through an affiliate deal with JRS Wealth Management and Hallmark Financial, according to news reports.
As part of the deal, the financial terms of which the companies didn’t disclose, Hallmark Financial has moved into JRS Wealth Management’s Tucson offices, the Phoenix Business Journal writes.
While the two firms are now affiliated, they will continue working with separate staffs and under separate brands, according to the publication.
For Trevor Wilde, managing principal of Wilde Wealth Management, the affiliation fulfills his long-term goal to gain a foothold in Tucson, the Phoenix Business Journal writes. And for Jim Stark, president and managing partner of JRS, the deal is part of succession planning, according to the publication.
“We realized we needed to add youth and depth to our practice, and to do so with the highest quality people. We believe Wilde Wealth Management clearly meets that need,” Stark says in a statement cited by the Phoenix Business Journal.