LPL Adds Pair of Midwest Adviser Teams With $565 Million in Combined Assets
Independent broker-dealer LPL Financial added several Midwest financial adviser teams with approximately $565 million in combined assets.
Financial advisers Stephen Shevlin and Jonathan Joelner, MBA, joined LPL’s broker-dealer, registered investment adviser, and custodial platforms to launch a new independent practice, 1818 Wealth Advisors. According to LPL, the team reported having served approximately $300 million in advisory, brokerage, and retirement plan assets, as of 2023. The advisers join LPL from Stifel, Nicolaus and Co.
Similarly, financial advisers Todd Cousino, Nicholas Hawk, and Charles Moyer joined LPL’s employee adviser channel, Linsco by LPL Financial, to launch Cousino Wealth Advisors. As of 2023, the advisers reported serving approximately $265 million in advisory, brokerage, and retirement plan assets and join LPL from Ameriprise. They will also be joined by senior client services associate Terri Rowe.
1818 Wealth Advisors is based in Swansea, Ill., just 20 minutes from the Gateway Arch in St. Louis. Shevlin and Joelner have worked together for nearly 10 years and have a combined 50 years of industry experience between them, serving a wide range of clients in approximately 30 states. Looking to chart a new course for their practice and satisfy their long-held goal of owning a thriving business, Shevlin and Joelner turned to LPL in their move to independence.
“We can choose our own path and make decisions that are in the best interest of our clients,” said Joelner. “The harder we work, the more it will benefit them and our business. And, through LPL, we have the resources we need to do what we’ve always wanted to do.”
The advisers said they look forward to leveraging LPL’s marketing resources to help build and amplify their brand while cultivating new marketing strategies that can take their new practice to the next level. Additionally, Joelner anticipates using LPL’s retirement tools to make it easier to provide the investment guidance that helps clients hit their life goals.
Just north, in Brownstown, Mich., Cousino and Hawk have worked as a team since 2015, with Moyer joining in 2020. Together, they offer comprehensive financial planning and wealth management using a bucket strategy to grow and preserve wealth for their clients. Looking to elevate their client experience and enhance office efficiencies, the team was drawn to LPL’s Linsco model. According to LPL, with Linsco, advisers have access to LPL’s integrated wealth management platform and robust business resources, along with the additional benefits of having support from an experienced branch management team and other dedicated consultants.
“Our goal is to always be client-first, and we want to continuously increase and evolve their experience,” Cousino said. “We are excited to join LPL and leverage the firm’s advanced technology to create greater practice efficiencies.”
Scott Posner, LPL executive vice president of business development, welcomed both groups to LPL. In regard to 1818 Wealth Advisors, he said: “We welcome Stephen and Jonathan to LPL Financial. We look forward to supporting the 1818 Wealth Advisors team in their efforts to grow their practice, engage a broader clientele, and deepen their already strong and productive client relationships.”
For Cousino Wealth Advisors, he added: “We welcome Todd, Chuck and Nick to the Linsco community. We look forward to supporting the business growth and success of Cousino Wealth Advisors as they leverage our robust technology platform and practice management programs to deliver differentiated client experiences.”
These firms are just the latest to join LPL. Earlier this month, LPL added a former AIG adviser with $275 million in assets, along with a pair of financial adviser teams with $750 million in combined assets.
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.
Click here to visit Alts Wire directory page.
