LPL Poaches Another Osaic Team with $410M Book
LPL Financial LLC has added $410 million Westlake Village, CA-based Nexus Wealth Partners to its broker-dealer, RIA and custodial platforms, marking its eighth firm to join from Osaic since June.
The team is led by managing partners Scott D. Nelson and Kamie Abraham and includes four support staff. Nelson also manages the entertainment industry wing of Nexus Wealth Partners. Abraham specializes in helping women in life transitions, families and retirees.
Nexus Wealth Partners chose LPL following an eight-month search for a new wealth management firm. “Our decision to join LPL was a strategic one, driven by our quest for a partner that could equip us with robust technology, vast resources and integrated capabilities to streamline the client experience and elevate our service offering,” Abraham said.
Both Nelson, 41, and Abraham, 32, view their transition as an opportunity to attract the next generation of advisors.
“There’s a shortage of advisors and a huge need for qualified financial planning,” Nelson said. “We believe through LPL and our experience we can fill that gap and grow while maintaining a high level of service to our clients.
Last week, LPL announced it added S&G Wealth Partners, a former Osaic team managing $165 million in Tempe, AZ. Last month, the firm added Dougherty, Tedesco & Associates, a former Osaic team in Cincinnati with $800 million in assets. In September, the firm pulled in 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.
Pictured: Kamie Abraham
