LPL Financial LLC, the nation’s largest independent broker-dealer, has added father and son advisors Bruce and Duncan Kelm of the newly minted ArrowPoint Wealth Management to its broker-dealer, corporate registered investment advisor and custodial platforms. The pair will align with Gladstone Financial Resources Group, a large enterprise on LPL’s corporate RIA platform.
The Kelms join from Morgan Stanley and serve approximately $135 million in brokerage and advisory assets. With the move to LPL and Gladstone, they launched ArrowPoint Wealth Management in their hometown of Santa Rosa, California.
After running one of America’s earliest brew pubs in the 1980s, Bruce Kelm sold his business in 1992 to launch a new career as a financial advisor, growing the practice by forming relationships with other small business owners around his community.
Duncan Kelm, a former member of the national USA Sevens Rugby team, had not planned to follow his father’s footsteps, but after an injury in 2012, he stepped into a management consulting role for five years. He decided to join his father’s business in 2017 as his successor and specializes in financial plans and processes for business owners, professionals and executives. He also plans to establish an accounting practice focused on tax strategies.
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.