A mother and son team based out of Glendale, Ariz., is joining LPL Financial through an alignment with Gladstone Wealth Partners, which supports advisors affiliated with the independent broker/dealer.
Paulette and Beaux Treguboff’s new independent practice will be called Homestead Wealth Management. Combined, the duo manage about $150 million in advisory and brokerage assets and are joining the broker/dealer from Morgan Stanley. The team focuses primarily on working with "blue collar investors" to build retirement plans. Both mother and son pointed to the independence LPL and Gladstone offered as the main reason for making the move.
“We want to own our business and have the autonomy to do what’s right for our clients,” Beaux Treguboff said. “By joining LPL and Gladstone, we can provide comprehensive financial planning services to any client we want to serve, not just those with large accounts.”
Paulette Beaux liked the simplified paperwork process LPL offers that would help the new firm handle more business operations digitally, and she framed the move as one step in the duo’s business continuity plan to ensure that clients would continue to be serviced for the long term.
The mother and son’s partnership in business began with Paulette, who became a financial advisor in 1995 after working in real estate. Her son Beaux worked as a dairy farmer on his great-grandfather’s homestead, milking as many as 1,500 cows three times a day, before joining his mom’s business in 2008.
In recent months, a number of teams have joined LPL, including a $250 million AUM team from San Diego who rejoined LPL from Cetera, and Verus Capital Partners, a $1 billion firm that joined from Securities America. Other recent firms that joined LPL include a $2 billion advisory duo who joined from Morgan Stanley, as well as Trilith Wealth Management, a Naples, Fla.–based team with $200 million in managed assets that joined from Wells Fargo Advisors. LPL also recently purchased asset management firm and broker/dealer Waddell & Reed’s b/d business for $300 million from asset manager Macquarie after it acquired W&R.
