© 2019 SourceMedia. All rights reserved.

4 Wells Fargo advisors with $390M jump to LPL Financial

LPL Financial’s recruiting efforts are picking up steam as the No. 1 independent broker-dealer has poached four financial advisors from wirehouse rival Wells Fargo.

Dynasty, Raymond James and Stifel are among the biggest beneficiaries of recent advisor moves.
September 21

Advisor Steven Jolly left Wells Fargo to join the hybrid RIA Ford Financial Group practice — based in Fresno, California — affiliating with LPL on the brokerage side. Jolly has three decades of experience as a financial advisor and oversaw approximately $190 million of client brokerage and advisory assets, according to LPL.

“The combination of Ford Financial Group and LPL Financial is the right combination to support my business,” Jolly said in a statement. “LPL’s size is a big advantage. My business model focuses on providing financial management aligned to the personal needs of each client. I now have access to a scope of resources that will help to deepen the relationships I have with clients.”

Jolly is joined by his client service assistant Michelle Diaz, the pair will be partnering up with a team that has been with LPL for 15 years, according to the firm.

LPL recruited assets Q3 2018

Also joining LPL is the Levy, Daniel and McGee Wealth Management team. The Lodi, California-based group left Wells Fargo FiNet for LPL, affiliating on both its brokerage and corporate RIA platforms.

The team — comprised of Kenneth Levy, Corey Daniel and Dudley McGee — came together in 2012 and oversaw approximately $200 million in assets before moving to LPL, the firm says.

Levy is an industry veteran of 34 years; Daniel has 17 years experience and McGee has eight, according to BrokerCheck records.

They had been affiliated with Wells Fargo Advisors before transitioning to the company’s independent broker-dealer unit in 2015, per BrokerCheck records.

Like Jolly, the team says they were drawn to LPL’s technology offerings and support.

“We were also impressed with LPL’s technology and lineup of products and resources. We want to bring on additional advisors to grow our practice, and LPL is the right partner to support our goals,” McGee said in a statement.

Wells Fargo declined to comment on either move. The wirehouse has recently lost advisors to Raymond James, Stifel, RBC and Triad Advisors.

For reprint and licensing requests for this article, click here.