LPL Financial LLC, the nation’s largest independent broker-dealer, has added Altoona, Wisconsin-based Bernicke Wealth Management to its broker-dealer and hybrid retail investment advisor custodial platforms. The team has aligned with LPL-affiliated Great Valley Advisor Group, a provider of supervisory responsibilities and a full-service RIA.
The Bernicke team reportedly served approximately $530 million in advisory and brokerage assets with TD Ameritrade and Triad Advisors, part of Advisor Group, respectively.
Ty Bernicke, president and senior wealth manager of Bernicke Wealth Management, launched his independent practice two decades ago under his father’s mentorship.
The firm has since grown into a 21-member team that includes four financial advisors, paraplanners, technology specialists and several client services support members.
“Our mission is to help people navigate life’s moments,” said Bernicke, a Forbes Best-in-State Wealth Advisor for three years in a row: 2018, 2019 and 2020. “We are a comprehensive wealth management firm with a heavy focus on clients who are nearing retirement.”
The team claims that it moved to LPL and Great Valley Advisor Group for enhanced technology and compliance support. “As a hybrid firm, the complexities have grown significantly over the last several years. By partnering with GVA and LPL, the compliance burden is lifted from our internal resources, allowing us to focus our time on growing the business and serving clients,” Bernicke said.
LPL Financial provides service to approximately $670 billion in brokerage and advisory assets as of March 31, 2020. The company provides proprietary technology, comprehensive clearing services, practice management programs and training, and independent research to 16,763 financial advisors and 700 financial institutions.