LPL Welcomes $320M Father-Son Duo from Osaic
LPL Financial LLC announced that father-son financial advisors Bart and Alex Lewellyn have joined LPL’s broker-dealer, RIA and custodial platforms from Osaic, bringing approximately $320 million in advisory, brokerage and retirement plan assets.
Based in Medford, OR, the team has rebranded from Lewellyn Financial Management to Lewellyn Wealth. The practice, established by Bart in 1995, provides investment services, retirement planning, insurance strategies, and planning services to clients including lineman engineers, business owners, and multigenerational families.
“We always wanted our name on the door, discretion, independence and the ability to operate in our clients’ best interests,” Alex said. “LPL’s standing as a leading wealth management firm ensures that we have all of that, as well as access to innovative technology, support and flexible solutions.”
The addition of Lewellyn Wealth continues a steady departure of Osaic advisors to LPL’s platform over the past seven months. In November of last year, the firm added $165 million Tempe, AZ-based S&G Wealth Partners. In October, the San Diego-based firm added Dougherty, Tedesco & Associates, a former Osaic team in Cincinnati with $800 million in assets. In September, the firm added McKinney, TX-based GreenPoint Wealth Management with approximately $150 million assets. Earlier that month, the firm welcomed Bury Financial Group, a $655 million Youngstown, OH-based advisory practice.
In July, LPL added Rizza Financial Services, a $250 million Melville, NY-based practice. That same month, the firm announced that Investment Advisors Financial Group, a $1 billion Eatontown, NJ-based financial advisory firm, joined LPL’s platform, and Summit Planning Group, a $750 million advisory firm with offices in Branford and Glastonbury, CT, also joined from Osaic.
In June, LPL announced the addition of FSI Wealth Management, a California team that manages about $215 million. FSI was previously with Securities America, which is now part of Osaic.
LPL Financial currently supports over 28,000 financial advisors and approximately 1,200 financial institutions, managing about $1.8 trillion in brokerage and advisory assets.