$580M Ex-Merrill Lynch FA Goes Indie with LPL Financial

LPL Financial has added a financial advisor that manages roughly $580 million in advisory, brokerage, and retirement plan assets, to its independence model. 

Managing director and private wealth advisor Nick Economos, has joined LPL Independent Advisor Network from Merrill Lynch to launch Danville, CA-based Economos Private Wealth which aims to provide wealth management services for high-net-worth clients, and acts as the “CFO for successful families.” 

The team also includes director of client relations Heather Stickney, and client services associate Tyler Economos, per the firm’s website. 

“We view our role as being the CFO for successful families. Just as a CFO helps coordinate every aspect of a company’s financial life, we help clients bring all the moving pieces of their financial lives together through a coordinated strategy,” Nick Economos said. 

The team also noted that they decided to affiliate with LPL Independent Advisor Network to maintain its independence while gaining broader access to the scale, resources, and infrastructure.  

Nick Economos entered the industry in 2001, when he registered with Merill Lynch and was with The Economos Group at Merrill Lynch, which was founded by his father in 1994, LPL stated. 

Recently, LPL added Ann Arbor, MI-based Lakewood Wealth Management, which manages about $170 million in advisory, brokerage, and retirement plan assets, to its broker-dealer and registered investment advisor platform from Cambridge Investment Research. 

LPL Financial serves more than 32,000 advisors and oversees roughly $2.6 trillion in brokerage and advisory assets. 

Pictured: Economos Private Wealth