Former Wells Fargo Advisor Launches Independent Practice with LPL Financial
LPL Financial LLC, the nation’s largest independent broker-dealer, has added financial advisor Richard Pakes to its broker-dealer and corporate registered investment advisor platforms.
LPL Financial LLC, the nation’s largest independent broker-dealer, has added financial advisor Richard Pakes to its broker-dealer and corporate registered investment advisor platforms. Pakes joins LPL from Wells Fargo Advisors and serves approximately $315 million in advisory and brokerage assets.
Pakes has 24 years of industry experience and launched his independent practice, CVG Wealth Management, in Santa Barbara, California. The team includes client relationship managers Kathy Mathis and Jamie Meisinger.
Pakes provides comprehensive investment advice and portfolio management for high-net-worth individuals and business owners. “We offer a broad range of services and strategies designed to help our clients make informed investment decisions based on their individual needs and financial goals,” Pakes said.
Pakes, commenting on the move to LPL, said that he was looking for more freedom and flexibility in how he operates his business, as well as enhanced advisor support. “This is an opportunity to own my firm and remove some of the bureaucracy, all in the spirit of doing what’s best for our clients,” he added.
Last week, The DI Wire reported that New Jersey-based Foran Financial Group returned to the firm after six years with Raymond James Financial Services.
LPL Financial provides service to approximately $903 billion in brokerage and advisory assets as of December 31, 2020. The company provides proprietary technology, clearing services, practice management programs and training, and independent research to 17,287 financial advisors.
