Ex-Ameriprise Vet Adviser Joins LPL, Rebrands Private Wealth Firm
W. Scott Hengerer, CMFC, CRPC
Financial adviser W. Scott Hengerer, CMFC, CRPC, recently joined LPL Financial’s broker-dealer, registered investment adviser, and custodial platforms to launch independent practice James River Private Wealth. He reported serving approximately $160 million in advisory, brokerage and retirement plan assets and joins LPL from Ameriprise.
Based in Lynchburg, Va., Hengerer started his career as a senior paralegal in securities class action litigation, but his passion for positively impacting people’s lives led him to the financial services industry. Now with 26 years of wealth management experience, Hengerer has developed a deeper understanding of the investment world, specializing in asset management, retirement income strategies, tax planning and more. His team has grown to include Martha Kerr, head of financial planning operations; Devin Burton, client services manager; and Breann Dooley, paraplanner.
“My approach to financial advice centers on helping clients make proactive choices rather than sacrifices,” Hengerer said. “We serve to empower our clients’ financial confidence by providing bespoke, customized investment advice designed to help simplify their finances and enrich their lives.”
With the move to LPL, Hengerer rebranded his firm to James River Private Wealth, a nod to the famed river that runs 444 miles through Virginia from the Appalachian Mountains to the coast. He also doubled down on his commitment to taking care of his clients as a boutique, family-oriented practice.
“With LPL, we have a new partner that allows us to maintain our focus on providing high-touch, high-service experiences to our clients,” said Hengerer. “LPL’s commitment to true independence, combined with its size, scale and reputation, made it the ideal choice for us. We are given the flexibility to operate on our own terms, free from corporate mandates and proprietary investment products.”
Hengerer said his team will benefit from LPL’s innovative technology, integrated custodial services, robust research capabilities, and comprehensive wealth management solutions – all designed to help them provide better experiences for clients. He also appreciates that he has access to a much larger suite of financial planning tools.
Last month, another former Ameriprise RIA joined LPL; Cousino Wealth Advisors reported serving approximately $265 million in advisory, brokerage, and retirement plan assets.
“We welcome Scott and his team to LPL and congratulate them on the launch of James River Private Wealth. As Scott builds out his ideal firm with LPL, we are committed to delivering strategic support and innovative resources to help his business thrive,” said Scott Posner, LPL executive vice president of business development.
LPL Financial Holdings Inc. serves nearly 23,000 financial advisers, including advisers at approximately 1,100 enterprises and 570 registered investment adviser firms nationwide. Headquartered in San Diego, its total advisory and brokerage assets totaled more than $1.44 trillion as of March 31, 2024.
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