Broker Dealer News: LPL Lures $1.5 Billion Team from Kestra

Broker Dealer News: LPL Lures $1.5 Billion Team from Kestra

August 23, 2023
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00 mins 57 secs

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A team of 16 advisors from Watermark Wealth Management reportedly serving about $1.5 billion in advisory, brokerage and retirement plan assets is making the move from Kestra to LPL Financial’s broker-dealer, RIA and custodial platforms.

Channel: Broker-Dealer

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LPL Financial is bringing in a team of 16 advisors that reported serving about $1.5 billion in advisory, brokerage and retirement plan assets.

The Watermark Wealth Management team left Kestra to join LPL’s broker-dealer, RIA and custodial platforms. They said they wanted more stability, a partner with scale, and the ability to attract new advisors and grow their practice on their own terms.

Watermark’s Aaron Gordon commented “As a Fortune 500 company, LPL heavily invests in technology enhancements and other integrated capabilities with open architecture, making it seamless to operate several programs without having to jump into different systems.”