LPL Financial Adds Ex-AIG Subsidiary With $630 Million in Assets
Financial advisers Carmen M. Lex Jr., CFP, RICP, and Chris Lex, CRPC, have joined LPL Financial’s broker-dealer, registered investment adviser, and custodial platforms. The brothers reported serving approximately $630 million in advisory, brokerage, and retirement plan assets and join LPL from Corebridge Financial, formerly Valic, a subsidiary of AIG.
“With more freedom and flexibility, financial advisers who choose LPL are able to work more effectively, run thriving practices and create value for the evolving needs of their clients. We look forward to supporting Lex Wealth Management for years to come,” said Scott Posner, LPL executive vice president, business development.
Based in Marlton, N.J., Carmen and Chris have built a reputation for delivering tailored investment strategies and quality service since they teamed up in 2014. They specialize in financial planning, and both have significant experience in pension and social security analysis, including the intricacies of the Public School Employees’ Retirement System. The Lex brothers credit their grandmother and parents as inspiration for their financial journey.
“We had a lot of people who guided us to where we are today, especially our grandmother who taught us the importance of saving from a young age,” said Chris Lex. “That fueled our drive to help others with important financial decisions. We are committed to educating and empowering individuals and families to take control of their financial futures.”
After more than 15 years in the industry, Carmen and Chris realized their shared vision for delivering personalized, independent financial guidance. They decided to reshape their approach, prioritize independence, and build a firm focused on providing tailored strategies and exceptional client service. This spurred their move to LPL and the creation of Lex Wealth Management.
“As we work with more clients in the distribution phases, we realized there are more personalized options available to us as independent advisers,” said Carmen. “By joining LPL Financial, we’ll benefit from innovative technology, strategic business resources, a comprehensive product selection and the support of an industry-leading wealth management firm. This move gives us everything we need to be better advisers and do right by our clients.”
As previously reported by Alts Wire, LPL also recently added a $345 million team from Ameriprise and a $1 billion team of advisers from Osaic, as well as a $1.3 billion New Jersey-based family office.
LPL Financial Holdings Inc. serves nearly 29,000 financial advisers nationwide. Headquartered in San Diego, its total advisory and brokerage assets totaled $1.7 trillion as of Dec. 31, 2024.
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