$150M Advisor Who Closed RIA Shop Heads to LPL

LPL Financial LLC announced that Kelly Compton has joined its broker-dealer, RIA and custodial platforms, aligning with existing firm Client Centric Wealth Management, part of Upstream Investment Partners.  

Compton reported having served approximately $150 million in advisory and retirement plan assets and joins LPL after owning his RIA, WCM Wealth Management, which custodied with Schwab Advisor Services. 

Based in San Antonio, TX, Compton began his career in the hospitality industry as a partner for a restaurant enterprise. He became a financial advisor in 2000 and left the wirehouse environment in 2006 to become independent. He eventually moved to a fee-only practice in 2011, where he was CIO of WCM Wealth Management.  

Compton works primarily with business professionals and executives, offering risk-based model portfolios. He said the move allows him to scale his business and be part of a network of other advisors who can help ensure business continuity for his clients in the years to come. 

“As my book of business has grown, it became increasingly clear that I needed to find a way to scale my practice while maintaining the high level of service that my clients have come to expect,” said Compton. 

LPL serves over 23,000 financial advisors, including advisors at approximately 1,000 institutions and at approximately 580 registered investment advisor firms nationwide. 

LPL has been on a recruitment tear over the past several months. In August alone the firm has already added more than $6.4 billion assets, including over 30 advisors with Academy Financial, Inc., and PFG Advisors, who collectively oversee about $4 billion in assets under management; Wealthstead Financial Advisors, a $615 million five-person advisory team in Atlanta; and 4Point Wealth Management, a $375 million Davidson, NC-based advisory team, among others.