$435 Million Truist Team Launches Indie Practice With LPL
Financial advisers Christopher “Noah” Geoghegan, CTFA, and Tomohiko “Tom” Minami, CFP, CFA, have launched a new independent practice, MG Partners Private Wealth, through affiliation with LPL Financial’s supported independence model, LPL Strategic Wealth Services. The team, which reportedly serves approximately $435 million in advisory, brokerage and retirement plan assets, joined LPL from Truist Financial.
Based in Hickory, N.C., the advisers have worked together for nearly two decades to provide sophisticated investment and planning services with a personalized touch. They are joined by Caroline Montgomery, director of client relations.
“We’re a full-service private wealth practice that caters to our clients’ comprehensive financial needs — from investment management to estate planning to philanthropy and everything in between,” Geoghegan said, noting they primarily serve high-net-worth entrepreneurs and clients who have built generational wealth. “We treat our clients like family. We want to know about their wishes and goals, their children, their lifestyle and what makes them tick. We then work directly with professionals in tax or legal fields to ensure all aspects of their financial lives are covered and the right strategy is implemented.”
The advisers said it was a natural next step for them to move to independence for the next chapter of their business.
“It’s the American Dream to own your business, and LPL is helping us make that dream true,” Minami said. “By going independent, we can be more than just financial advisers. We are entrepreneurs who understand the journey of building and growing wealth, and we can do that in a way that puts clients at the center of every decision we make.”
The team says it was drawn to LPL Strategic Wealth Services for operational and strategic reasons, including access to LPL’s wealth management platform, as well as the integrated services, such as simplified pricing, technology, and dedicated support to launch their practice.
LPL highlights that its Strategic Wealth Service teams receive ongoing operational support managed by their team including a business strategist, marketing partner, chief financial officer, and administrative assistant. Advisers have one point of contact, a dedicated team and priority access to advocacy and project management for complex business issues, allowing them to stay focused on the needs of their clients and practice.
The team also will tap into LPL’s high-net-worth solutions to support more complex situations, such as advanced estate and philanthropy planning, income tax strategy, trustee services, a robust alternative investment platform, banking and lending solutions, and complex life insurance planning.
“During our due diligence process, it became clear that LPL’s integrated technology and in-house resources are second to none,” Minami said. “The strategic wealth model spoke to us because we refused to compromise for our clients. It gives us a dynamic team by our side to support our strategy and goals, allowing us to spend more time with clients.”
“We warmly welcome Noah and Tom into the LPL community and congratulate them on this next step in their journey to differentiate themselves in the marketplace. … We look forward to a long-lasting relationship with MG Partners Private Wealth and wish them great success,” said Scott Posner, LPL executive vice president of business development.
LPL Financial Holdings Inc. serves nearly 23,000 financial advisers, including advisers at approximately 1,100 enterprises and 570 registered investment adviser firms nationwide. Headquartered in San Diego, its total advisory and brokerage assets totaled more than $1.35 trillion as of Dec. 31, 2023.
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