LPL Adds Pair of SoCal Financial Adviser Teams With $750 Million in Combined Assets
LPL Financial has welcomed several Southern California financial advisers to their team this month with $750 million in combined assets.
Tom Russell, CFP, and his sons Brian Russell and Charles Russell of San Diego have joined LPL’s employee adviser channel, Linsco by LPL Financial, to launch Russell Wealth Partners. Earlier in June, advisers Tim Woodall and Dustin Raring of Newport Beach launched a new independent practice, Highway One Capital, through affiliation with LPL Financial’s supported independence model, LPL Strategic Wealth Services.
Russell Wealth Partners reported serving approximately $250 million in advisory, brokerage and retirement plan assets and joins LPL from Merrill Lynch. They will operate out of the Linsco suite at LPL’s San Diego campus. Highway One Capital reported having served approximately $500 million in advisory, brokerage and retirement plan assets and joins LPL from First Republic, now part of JPMorgan Chase.
With 38 years of industry experience, Tom Russell has always had a keen interest in market conditions and helping families work toward financial success. His sons Brian and Charles followed in their father’s footsteps after initial forays in law and engineering, respectively.
“[Brian and Charles] are both wonderful assets to the team and are helping us take it to the next level as we create more hands-on, boutique experiences for clients. We pride ourselves on taking the time to truly tailor investment plans and strategies for each client’s unique needs, goals and objectives.”
Looking to create their ideal practice, the Russells turned to Linsco by LPL for its innovative technology, as well as the freedom to operate their client relationships with an increased level of autonomy. 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, technology consultant, and service team.
Just north up the coast, Woodall and Raring are longtime best friends with over 55 years of industry experience, collectively. They partnered in 2012, both combining their clients and bringing different skillsets and viewpoints to the business. With client support from Taylor Ford, the team primarily serves business owners and high-net-worth multigenerational families.
“In a world that’s shifted to model portfolios and simplified offerings, we truly spend a lot of time, energy and effort customizing strategies for each individual client or family,” Woodall said. “We enjoy getting to know what clients want to do with their finances and how their wealth can help drive their goals and ambitions. We keep our focus on the important things along that journey: family, community, connectivity and a sense of purpose to keep clients moving forward.”
Highway One Capital said joining LPL was a natural choice for the team, which was looking for a more entrepreneurially minded culture and an environment where they could put their clients’ best interests first. “This decision to move to LPL was driven by our desire to have full control in how we build our business and serve clients,” Raring said. “We can now leverage the strength of a major firm that offers integrated technology, strategic business resources and wide selection of investment choices, which enables us to deliver highly personalized wealth management options and exceptional service experiences.”
“We want to be independent, but we also appreciate the blend of service and support that is provided by LPL Strategic Wealth Services,” Raring said. “We are fully supported by a dedicated team that upholds our high standards, and we look forward to building a culture where we can prioritize our clients’ best interests in their pursuit of financial success.”
Highway One Capital also plans to tap into elements of LPL’s Private Wealth offering, which provides customized solutions for high-net-worth families, including estate planning, legacy planning, tax strategies and comprehensive solutions for concentrated equity positions.
Scott Posner, LPL’s executive vice president of business development welcomed both firms to the LPL family.
“We welcome Tom, Brian and Charles to the San Diego Linsco community. We understand advisers want the freedom to nurture client relationships and build their business on their terms. At LPL, we meet advisers where they are in the evolution of their business to help them create their perfect practice.”
“We extend a warm welcome to Tim, Dustin and Taylor and congratulate them on the launch of Highway One Capital. As they build their ideal practice, LPL is here to support them throughout their entire journey as independent advisers. We are committed to delivering sophisticated resources, innovative capabilities and strategic business solutions designed to help them build value with clients and win in the markets they serve,” said Posner.
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