Ex-Cetera Adviser Launches $300M Kinetic Wealth Via LPL Independent Network
Kacy Walker has left Cetera to launch Kinetic Wealth through LPL Independent Advisor Network, LPL Financial’s supported independence model, LPL said Oct. 22. Walker reported serving about $300 million in assets across retirement plans and individual wealth management relationships, including retirees and business owners.
According to LPL, Kinetic Wealth’s services include budgeting, retirement preparation, investment planning, debt management, and estate planning.
“Every relationship starts with listening,” Walker said. “Before we talk about solutions, we want to understand what someone is navigating, where they need guidance and what is happening in their life.”
Walker said keeping her practice independent was a central priority in choosing LPL.
“I wanted to sustain our independence and build the firm around what our clients need,” she said. “LPL and the Independent Advisor Network offered the right path, with the resources and specialized support to help us carry forward the relationships we value.”
Walker grew up in Madera, Calif., and earned a bachelor’s degree in business administration from California State University, East Bay. After returning to the Fresno area, she joined a broker-dealer as a receptionist, moved into an analyst role, and studied for the Series 7 while working full time and raising her daughter.
According to LPL, advisers in LPL Independent Advisor Network get transition support, growth coaching and consulting, and ongoing operational, compliance, and administrative support from regional LPL teams. Nick Economos used the same model when he launched the $580 million Economos Private Wealth in Danville, Calif., after more than 25 years at Merrill Lynch, as AltsWire reported Oct. 13.
Walker is the latest California adviser to move from Cetera to LPL. In July, Steve Williams moved his $340 million Los Alamitos, Calif., practice, Williams Tax & Financial Services, from Cetera to LPL’s broker-dealer and registered investment adviser platform.
The launch also follows LPL’s Oct. 14 addition of Prince Financial Services, a Seattle practice reporting about $1 billion in assets, from Northwestern Mutual, and its Oct. 5 recruitment of the $1.1 billion Praxis Financial Partners team from Wells Fargo Advisors Financial Network.
LPL reported $25 billion in recruited assets for the second quarter, up 35% from a year earlier. The company is scheduled to report third-quarter results after the market closes Oct. 27.
LPL Financial Holdings Inc. (Nasdaq: LPLA) supports more than 32,000 financial advisers and the wealth management practices of approximately 1,100 financial institutions. It services and custodies approximately $2.6 trillion in brokerage and advisory assets.
Visit the AltsWire directory page.
