Ex-Osaic Adviser With $410 Million in Assets Joins LPL Financial
Financial advisers at Nexus Wealth Partners have joined LPL Financial’s broker-dealer, registered investment adviser, and custodial platforms. They reported serving approximately $410 million in advisory, brokerage and retirement plan assets, and they join LPL from Osaic.
Based in Westlake Village, Calif., the team is led by managing partners Scott D. Nelson, CFP, MBA, and Kamie Abraham, CFP, MBA, and includes four support staff members. For 18 years, Nelson has assisted business owners, corporate executives, retirees, and wealthy multigenerational families make informed decisions while accumulating and preserving their wealth. He also manages the entertainment industry wing of Nexus Wealth Partners, where he serves several award-winning actors, writers, sound engineers and Hollywood executives.
Abraham brings over 10 years of experience to the team and specializes in helping women in life transitions, families, and retirees develop and implement personalized strategies as they work toward their financial goals with confidence.
“We strive to build long-lasting relationships with our clients, offering education and guidance as we build out comprehensive financial plans to address their unique needs and objectives,” Nelson said. “We truly value independence and doing what’s in the best interests of our clients, and we’re fully committed to providing each individual with the highest level of service and expertise.”
The move to LPL followed an eight-month search for a new wealth management firm and was designed to propel the next phase of growth for their business.
“Our decision to join LPL was a strategic one, driven by our quest for a partner that could equip us with the robust technology, vast resources and integrated capabilities to streamline the client experience and elevate our service offering,” Abraham said. “We appreciate the ease of doing business with LPL, both for our team and clients. LPL’s integrated platform ensures clients have a streamlined view of their financial landscape, with a single sign-on where they can find everything within one portal.”
Both Nelson and Abraham are relatively young, at ages 41 and 32, respectively, and view their transition as an opportunity to attract the next generation of advisers.
“We wanted to partner with a firm that we could stay with for decades and grow,” Nelson said. “We will continue to build out our team, bringing in junior advisors to help educate, mentor and collaborate with. There’s a shortage of advisors and a huge need for qualified financial planning. We believe through LPL and our experience we can fill that gap and grow while maintaining a high level of service to our clients.”
Scott Posner, executive vice president of business development, welcomed the Nexus team to the LPL community.
“As their partner, we are committed to delivering innovative technology, integrated platforms, and strategic resources to help them to run their practice seamlessly and add value to their clients. We look forward to supporting Nexus Wealth Partners as they continue to grow their business and attract the next generation of advisors to their team,” said Posner.
Last month, LPL announced its third quarter earnings and financial results. As reported by The DI Wire, LPL reported a net income of $255 million or $3.39 per share. This was a 16.5% increase per share, as compared to Q3 2023’s $224 million, or $2.91 per share.
LPL Financial Holdings Inc. serves more than 23,600 financial advisers, including advisers at more than 1,000 enterprises and 580 registered investment adviser firms nationwide. Headquartered in San Diego, its total advisory and brokerage assets totaled $1.6 trillion as of Sept. 30, 2024.
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