Former Kestra Advisors with $1.5 Billion in Assets Join LPL Financial

LPL Financial LLC announced that Watermark Wealth Management has joined LPL Financial’s broker-dealer, registered investment advisor and custodial platforms.

Watermark Wealth Management, which joined LPL from Kestra Financial, reports that its team of 16 advisors serve approximately $1.5 billion in advisory, brokerage and retirement plan assets.

With registered offices in Scottsdale, Chandler and Payson, Arizona, as well as Minneapolis, Watermark was founded in 2009 during the financial crisis by a small group of advisors looking to share resources in an independent environment. The team has grown over the years to now include 16 advisors and 12 support staff members, all with a passion for helping others improve and maintain their financial achievements.

“Our goal has always been to encourage organic growth by recruiting advisors who have demonstrated high ethical moral practices and are committed to putting clients first,” said founding partner and director of estate planning Carmen Cercone.

Under Cercone and fellow founding partner Kyle Richardson’s direction, LPL says the firm has grown from $230 million in assets under management to $1.5 billion in 14 years. The firm’s leadership team also includes Aaron Gordon, Rich Liberante and Jake Cercone.

“Effective financial planning is all about relationships and we believe in building genuine and long-lasting partnerships with our clients,” Cercone said. “We strive to create easy-to-understand, effective strategies, designed to provide clients with confidence. We are a one-stop shop and work with other professionals and centers of influence to help ensure our clients’ financial needs are addressed.”

LPL supports more than 21,000 financial advisors, 1,100 institution-based investment programs and 500 independent RIA firms nationwide.

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