Washington-Based Cashman Consulting Moves to LPL From KestraWashington-Based Cashman Consulting Moves to LPL From Kestra
Cashman Consulting joins LPL Financial after 15 years with Kestra Investment Services.
LPL Financial has recruited a family-run team from Redmond, Wash., with about $670 million in client assets. Cashman Consulting, founded by Jeff and Judy Cashman in 1998, has joined after 15 years with Kestra Investment Services.
Prior to 1998, the Cashmans were operating a third-party record keeping business, and shifted to doing retirement plan consulting and individual wealth management. The team includes their daughter, Megan Baumgartner, a partner and client relationship manager, and her husband, Ryan Baumgartner, partner and chief investment officer.
The firm was attracted to LPL for its integrated tech stack, economic strategists and research. LPL’s northwest footprint will also help the team network with other advisors and provide growth opportunities.
“This move to LPL will make us more efficient and will provide our team with even more information to support clients with education as well as personalized investment strategies that can help them work toward their goals,” Jeff Cashman said in a statement.
On its earnings call last week, LPL CEO Dan Arnold said the firm’s recruiting pipeline is the largest it’s ever been. The firm continues to grow in its traditional, independent advisor affiliation model, as well as in the bank channel. The firm also launched its independent employee offering, with solid early results, he said.
The firm also announced the acquisitions of Lucia Securities and E.K. Riley last quarter, and 95% of advisors at those two firms have committed to join.
