LPL Adds Former UBS Advisor to Independent Platform

LPL Financial LLC announced that financial advisor Matt Sheffield, who previously managed $275 million in advisory, brokerage and retirement plan assets at UBS, launched Spokane, WA-based Burlwood Wealth through LPL’s independence model, LPL Strategic Wealth Services.

“After 15 years working for a very large bank, I wanted a sense of ownership in my practice and the freedom to call my own shots,” said Sheffield, who is joined by client services specialist Kayla Randall. “At LPL, independence isn’t a slogan. It’s built into the DNA of the whole platform.”

Advisors affiliated with LPL through Strategic Wealth Services are 1099 independent contractors, but they receive help from LPL’s main office in areas including as technology, pricing, human resources, and marketing.

Strategic Wealth Services has 43 associated practices in 20 states, totaling $23 billion in client assets.

LPL also recently added Guardian Partners Wealth Management, a $240 million Bloomfield Hills, MI-based father-son pair previously with Ameriprise, to its platform. Last week, LPL announced the addition of Strategic Wealth Partners, an $860 million Dallas-based financial planning firm formerly at Lincoln Financial.