LPL Financial Lures $1.15 Billion Team from Wells Fargo Advisors

Financial advisers Jim Murray, Larry Bernstein, Abby Goldstein, CFP, Michael Kazmer, CFP, Brett Goldberg, and Wesley Wong of Townsgate Wealth Management have joined LPL Financial’s broker-dealer, registered investment adviser and custodial platforms. They reported serving approximately $1.15 billion in advisory, brokerage, and retirement assets and join LPL from Wells Fargo Advisors Financial Network.

Based in Westlake Village, Calif., Townsgate Wealth Management was founded in 2016 and has since grown to an ensemble practice that serves primarily high-net-worth individuals, families, and business owners. Complementing each other’s strengths, the advisers focus on several areas of investing, including in-depth portfolio management, fixed-income analysis and retirement planning, while partnering with CPAs and attorneys to create deeply personalized strategies for each client. They are supported by administrative assistants Sarah Levi-Sickman, Joni Melickian, and Claire Trentacosta.

“Our clients are the center of everything we do at Townsgate,” Murray said. “We maintain a fiduciary focus for clients and take full discretion in trading, running portfolio models and creating highly customized plans to help them work toward their goals. Whether we are developing strategies that focus on preserving wealth, building a legacy or sharing wealth with the next generation, our priority is bringing our clients’ visions into reality.”

Looking to further grow their business while maintaining their client-first approach to service, the team embarked on a year-long due diligence process that led them to LPL.

“True independence is having the autonomy to operate on our terms, which is what we found in LPL,” Bernstein said. “LPL’s culture, strong reputation, integrated systems, and innovative platform means they truly serve the needs of the advisers. With adviser-centric support and a client-centric advisory practice – our clients win.”

“We welcome the advisers of Townsgate Wealth Management to LPL and congratulate the team on this milestone in the evolution of their practice,” said Scott Posner, executive vice president of business development.

Other Wells Fargo Financial Advisors Network-affiliated financial advisers’ joined LPL’s ranks last year: a $535 million tea headquartered in Manasquan, N.J.: Harbor Lights Financial Group; and a $375 million team from Davidson, N.C.: 4Point Wealth Management.

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.

Click here to visit Alts Wire directory page.