Linsco by LPL Financial Adds Adviser Serving $280 Million in Assets
John Somerville
Financial adviser John Somerville has joined LPL’s employee adviser channel, Linsco by LPL Financial, to launch Somerville Wealth Management. He reported serving approximately $280 million in advisory, brokerage and retirement plan assets, and joins LPL from D.A. Davidson & Co. He will operate from a new Linsco office in Santa Barbara, Calif.
According to LPL, Somerville has built a relationship-focused business over his 40 years of experience in the financial services industry. He serves a range of clients, including business owners, professionals, and high-net-worth families. He takes a comprehensive approach to financial planning, helping clients to create customized strategies based off their unique needs and aspirations.
“Building relationships has always been my passion, and I make a point to truly listen to clients as they discuss their financial dreams, concerns, and goals,” said Somerville, who is supported by Debora McKenzie-Jakushak, a registered client service associate. “By getting to know clients on a personal level, I’m able to develop personalized plans to maximize their goals and help ensure a meaningful financial legacy.”
Seeking a new wealth management firm, LPL said Somerville turned to Linsco by LPL for its technology and service experiences. Linsco serves financial advisers seeking the core tenets of independence, including owning their client relationships and having flexibility to run their practice, their way. With Linsco, advisers have access to LPL’s integrated wealth management platform and robust business resources, along with the additional benefits of having support from an experienced branch management team, dedicated marketing consultant, and other resources that allow advisers to focus on their clients.
“I was looking for a firm that would provide my clients with the best opportunities moving forward,” Somerville said. “I’m impressed by LPL’s optionality and structure, along with its industry-leading tools and capabilities that will create better user experiences for my clients, with single sign-on and easy access to their account information. I’m confident that I’ve found a home where I can continue to grow my practice and provide clients with the highest level of service.”
“We extend a warm welcome to John as he joins LPL and establishes Somerville Wealth Management,” said Scott Posner, LPL executive vice president, business development. “Linsco was created to help advisers such as John own and manage a thriving practice, while enjoying comprehensive operational support and the benefits of being an employee of LPL. We look forward to supporting Somerville Wealth Management for years to come.”
Last summer, LPL welcomed other Southern California financial teams with $750 million in combined assets. Tom Russell, CFP, and his sons Brian Russell and Charles Russell of San Diego joined Linsco by LPL Financial, to launch Russell Wealth Partners. They reported serving approximately $250 million in advisory, brokerage and retirement plan assets and joined LPL from Merrill Lynch. Also, advisers Tim Woodall and Dustin Raring of Newport Beach launched a new independent practice, Highway One Capital, through affiliation with LPL Strategic Wealth Services. Highway One Capital reported having served approximately $500 million in advisory, brokerage and retirement plan assets and joined LPL from First Republic, now part of JPMorgan Chase.
LPL Financial Holdings Inc. supports more than 28,000 financial advisers and the wealth management practices of 1,200 financial institutions. Headquartered in San Diego, its total advisory and brokerage assets totaled approximately $1.8 trillion as of Dec. 19, 2024.
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