LPL-Affiliated Genesis Wealth Adds $2.5 Billion in AUM Through Bank Adviser Recruiting
Genesis Wealth – an independent firm on LPL Financial’s broker-dealer and registered investment advisor platforms – announced it has met and surpassed its recruitment and growth targets for 2025, reaching more than $2.5 billion in assets under management.
Genesis Wealth was founded in January 2024 and officially launched under its current brand in July 2025. Via its supported independence model, the firm said it has attracted bank-based advisers seeking greater flexibility while maintaining access to operational, compliance, and technology infrastructure.
“Our year-to-date recruiting success reflects the appeal of our model. Here, advisers can combine independence with a growth-oriented culture and strong operational support. We’re thrilled to welcome so many accomplished advisers to our platform and to help them advance their practices while delivering exceptional client service,” said Kosta Tanglis, founder and managing partner at Genesis Wealth.
The firm, which is entirely owned by its founding advisers, prioritizes alignment and a shared vision for long-term success without the operational burdens of running their own registered investment adviser. It offers advisers a supported independence model and turnkey infrastructure – including staff, office space in the Chicagoland area, technology and LPL affiliation fees. These resources and benefits allow advisers to focus 100% on clients and growth, while avoiding operational distractions.
Personalized planning is at the core of the firm’s services, addressing every aspect of a client’s financial life: investments, retirement, tax, and estate planning.
The firm plans to continue to enhance its platform to meet the needs of bank-based advisers transitioning to independence. Barry Krumwiede, founder and wealth adviser at Genesis Wealth, indicated the team has no plans of slowing down in 2026.
“We’re committed to tripling down on this model and continuing to attract top talent from the banking world. As part of this strategy, we plan to significantly expand our real estate footprint in the Chicagoland area in 2026,” Krumwiede concluded.
At the end of the third quarter of 2025, LPL Financial reported a 45% year-over-year surge in total advisory and brokerage assets, which reached $2.3 trillion. Advisory assets climbed 51% year-over-year to $1.3 trillion. Consequently, advisory assets now represent a more significant portion of the firm’s business, accounting for 58.2% of total assets, up from 56% a year earlier.
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