Another pair of Wells Fargo financial advisors have launched an independent practice through LPL Financial’s channel for breakaway advisors.
David Crossan and John Stephens, Jr. have launched Shoreline Wealth Management, with offices in Manchester and Manahawkin, New Jersey, through LPL’s Strategic Wealth Services model, LPL says.
The team, joined by office support staff member Brittany Forte, reported around $305 million in advisory, brokerage and retirement plan assets, according to the company.
Crossan and Stephens launched their own independent practice “to ensure business continuity and create differentiated experiences as they help clients navigate the complexities of the financial landscape,” according to LPL.
“The time is ripe for advisors looking to transition to independence, and we want to start our firm and welcome other likeminded advisors into our network,” Stephens said in a statement.
Several Wells Fargo financial advisors have joined LPL’s Strategic Wealth Services platform, formed last year in a bid to lure breakaway advisors.
Just last month, a pair of Wells Fargo advisors overseeing $235 million in client assets launched a new independent practice through the model, and in June, two Wells teams, one with $1.3 billion and another with $580 million, affiliated with the LPL channel.