Former BofA Adviser With $725 Million Book Joins LPL Private Wealth Model
Alberto Francis
Financial adviser Alberto Francis has joined LPL Financial’s high-net-worth-focused employee affiliation model, LPL Private Wealth Management, to launch Rockview Private Wealth. He reported having served approximately $725 million in advisory, brokerage and retirement plan assets and joins LPL from Bank of America Private Bank.
Francis, the son of Irish and Mexican immigrants, is a former NCAA Champion and All-American from UCLA and a professional tennis player, who spent three years on tour — including an appearance at Wimbledon. After completing his MBA from Stanford University in 2011, he joined the financial services industry. He’s steadily grown his practice over the years by cultivating meaningful relationships and making a positive impact on his clients’ lives.
Currently based in Houston, Francis works closely with business owners, executives, athletes, and medical and law professionals in the high-net-worth community. As he prepares for the next stage of his career, Francis plans to shift focus from the banking side of the business to investments, planning, and customized services.
“I’ve had an entrepreneurial mindset for a long time and am excited to finally have my own practice where I can prioritize client relationships and truly put their interests first,” Francis said. “I’ve gained the necessary business experience to make a successful move into the independent space and look forward to having more control over the next chapter of my career.”
Looking for the right blend of independence and support to create his ideal boutique practice, Francis turned to LPL Private Wealth.
Tailored to the needs of high-net-worth-focused advisers since it debuted in November 2023, LPL Private Wealth is an independent employee adviser affiliation model featuring a comprehensive array of services and support to enhance client service delivery and business growth while upholding the tenets of independence. LPL Private Wealth advisers enjoy the benefits of industry-leading payouts, client ownership, and business autonomy while gaining access to enhanced service, expanded capabilities, and an exclusive high-net-worth adviser community.
A pair of former Merrill Lynch advisers serving approximately $705 million in assets came to LPL for its private wealth model in May 2024, launching Auctus Legacy Private Wealth Management.
LPL has developed focused resources including advanced estate and philanthropic planning, income tax strategy, trustee services, alternative investments platform, banking and lending solutions and complex life insurance planning, as well as a curated network of third-party specialists.
“I am looking forward to accessing a broader range of services and resources to offer more nuanced and sophisticated plans,” Francis said. “The ability to craft dynamic, client-focused strategies without the limitations of proprietary products means I can focus on what’s best for my clients and their futures.”
Francis chose “Rockview” for his new practice to pay homage to the iconic Irish scenery surrounding the estate where five generations of his family have called home.
“We welcome Alberto to LPL and congratulate him on the launch of Rockview Private Wealth. The LPL Private Wealth model is designed to provide high-net-worth-focused advisers with the independence they seek while offering a comprehensive suite of sophisticated resources and support. LPL empowers our advisers with advanced tools and resources that enhance their ability to serve affluent clients and deliver the sophisticated solutions and personalized service they need, said Scott Posner, LPL executive vice president of business development.
LPL Financial Holdings Inc. serves nearly 23,000 financial advisers, including advisers at more than 1,000 enterprises and 580 registered investment adviser firms nationwide. Headquartered in San Diego, its total advisory and brokerage assets totaled more than $1.5 trillion as of June 30, 2024.
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