LPL Adds Wells Fargo Team Via Strategic Wealth ServicesLPL Adds Wells Fargo Team Via Strategic Wealth Services
A team out of Marlton, N.J., will launch Claritas Financial Partners under LPL's new affiliation model aimed at employee advisors.
LPL Financial rolled out its Strategic Wealth Services, the firm’s new affiliation model aimed at wirehouse and regional advisors, last month. And this week the independent broker/dealer has lured another team out of Wells Fargo Advisors, including advisors Brian Lynn, John Fessler and Jim Pacheco in Marlton, N.J., to join the model.
The team, which manages $305 million in client assets, have launched Claritas Financial Partners.
Lynn came up with the name, Claritas, which means clarity and brightness in Latin.
“That was the perfect analogy for what we are building as a company. Our mission is to bring clarity to the financial lives of our clients,” Lynn said.
The team was attracted to the affiliation model’s ongoing business management support and lack of bureaucracy.
LPL launched the model to help established regional and wirehouse advisors who are frustrated with the employee channel’s limitations, such as lack of autonomy, curbed ownership of their business and declining pay. They are looking to have more control of their practice, the firm says, because they know exactly how they want to run it.
The move follows LPL’s announcement late last month that it recruited another Wells Fargo Advisors team, which launched Ashworth Financial Group under the affiliation model.
