{"id":621694,"date":"2026-10-05T22:36:15","date_gmt":"2026-10-05T22:36:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/621694\/"},"modified":"2026-10-05T22:36:15","modified_gmt":"2026-10-05T22:36:15","slug":"lpl-recruits-1-1b-team-to-its-ria-channel-from-wells-fargo","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/621694\/","title":{"rendered":"LPL Recruits $1.1B Team to its RIA Channel From Wells Fargo"},"content":{"rendered":"

LPL Financial, the San Diego-based independent broker\/dealer with $2.6 trillion in brokerage and advisory assets, has recruited a $1.1 billion team to its registered investment advisor platform from Wells Fargo Advisors Financial Network.<\/p>\n

Praxis Financial Partners advisors Scott Christian, Cecil Loyd, Jay Gentry and Matt Dion have joined LPL Financial\u2019s broker\/dealer and RIA platform after evaluating more than a dozen options, according to an announcement from the firms.<\/p>\n

\u201cLPL\u2019s open architecture platform gives us the freedom to build the wealth management ecosystem we believe best serves our clients,\u201d Christian said in a statement.<\/p>\n

Based in Alpharetta, Ga., Praxis Financial Partners works with business owners, corporate retirees, executives and multigenerational families across 24 states.<\/p>\n

Christian and Loyd launched the firm in 2013, naming it after the Greek word for \u201cprocess\u201d to reflect their planning-based philosophy, according to the firm.<\/p>\n

Related:Deals & Moves: LPL Financial Adds Two Utah Advisory Teams With $1B<\/a><\/p>\n

Gentry joined the practice in 2020 after 20 years in asset management distribution, while Dion joined in 2024 after 15 years as an advisor.<\/p>\n

Dion had been the longest-tenured Wells advisor at about 16 years, with Christian and Loyd at the wirehouse for 13 years and Gentry for six, according to BrokerCheck.<\/p>\n

There has been a steady flow of financial advisors to the RIA space in recent years, with large broker\/dealers such as LPL, Osaic<\/a>, and Cetera Financial Group<\/a> pushing their RIA, fee-based options for advisors.<\/p>\n

Wells Fargo, for its part, has been regularly attracting large wirehouse teams <\/a>to its FiNet practice and is working to roll out a revamped, fee-only RIA custody platform<\/a> to be seeded by some FiNet advisors by the end of this year. Firm executives have said that the platform will be extended to external advisors in 2027.<\/p>\n

Praxis chose LPL in part because it offered resources and scale while allowing the advisors to maintain ownership of the business, the firm said.<\/p>\n

\u201cWe were looking for a partner committed to innovation and focused on helping advisors deliver greater value,\u201d Dion said.<\/p>\n

LPL did not immediately respond to a request for comment on the asset or advisor count in its RIA channel.<\/p>\n

As of its most recent figures, LPL affiliates with more than 32,000 financial advisors and the wealth management practices of about 1,100 financial institutions.<\/p>\n","protected":false},"excerpt":{"rendered":"LPL Financial, the San Diego-based independent broker\/dealer with $2.6 trillion in brokerage and advisory assets, has recruited a…\n","protected":false},"author":2,"featured_media":621695,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[138,246,111,139,69,244,245],"class_list":["post-621694","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-new-zealand","tag-newzealand","tag-nz","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/621694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=621694"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/621694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/621695"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=621694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=621694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=621694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}