LPL Acquires $750M Waznik Heike Group from Osaic Wealth
LPL Financial has added an 11-person team with $750 million in advisory, brokerage, and retirement plan assets to its broker-dealer, registered investment advisor, and custodial platforms from Osaic Wealth.
The team, Menomonie, WI-based Waznik Heike Group, founded in 2019, is led by partners Brad Waznik and John Heike, who have been the respective owners of Heike Wealth Management and Waznik Moseler Group before partnering to launch Waznik Heike Group last May.
The team is joined by wealth management advisor Gene Larock, financial representatives Sam Ferch and Steve Helling, financial advisors Kyle Thorpe, Jon Storing, Tyler Schroyer, Coltin Brehm, Jerry Hagman, paraplanner Bryan LaVoy, along with their support staff, LPL said to Connect Money.
Larock and Helling were not initially part of Waznik Heike Group and were previously affiliated with Northwestern Mutual, according to their LinkedIn profiles.
Waznik and Heike bring more than 100 years of combined industry experience to LPL Financial, the company said.
Waznik Heike Group, which joined LPL on April 29, offers “personalized and proactive” wealth management, financial planning, investment management, retirement planning, tax planning, and insurance solutions to individuals, families, pre-retirees, and retirees.
“My favorite part of this job is connecting with our clients in a meaningful and purposeful way,” Heike said. “Many of our clients are nearing or in retirement, and they have questions about how to be financially responsible while making the most of their golden years. It’s our role to help them answer their questions, make decisions and help take that stress off their shoulders.”
Waznik Heike Group chose LPL because of its technology, back-office support, and because of LPL’s “commitment to helping [Waznik Heike Group] provide a next-level client experience,” the firm said.
LPL Financial has recently added a Fairbanks, AK-based father-son advisor duo from Raymond James, who oversees $450 million in client assets.
LPL Financial has approximately $1.8 trillion in brokerage and advisory assets and supports over 29,000 financial advisors across 1,200 financial institutions, according to the firm.