LPL Recruits $1.7B in Adviser Team Assets From Kestra, Northwestern Mutual
LPL Financial this week added two independent advisory teams collectively managing approximately $1.7 billion in client assets, as True Compass Advisors in Southbury, Conn., and Emerald Wealth Management in Seattle joined the broker-dealer and registered investment adviser platform.
True Compass Advisors, led by Jared White, joins LPL from Kestra and reported serving approximately $870 million in advisory, brokerage, and retirement plan assets. Emerald Wealth Management, founded by Darren Trautmann, joins from Northwestern Mutual and reported serving approximately $815 million in advisory, brokerage, insurance, and retirement plan assets.
White, who has 20 years of industry experience and was previously affiliated with LPL earlier in his career, cited the firm’s technology platform and planning capabilities as drivers of the move. He is supported by chief operating officer Karin Hubbard and advisers Harrison Graham and Laura Maguire, among others. The practice serves professionals approaching retirement who require coordinated strategies across investments, tax considerations, estate planning, and multi-generational goals.
“LPL offers the technology, flexibility and scale to help us deliver on our long-term vision,” White said. “The firm’s platform allows us to integrate advanced planning capabilities and collaborate with a broader network of professionals, while maintaining the independence to grow our practice in a way that best serves our clients, our team and our community.”
Emerald Wealth is led by Trautmann and private wealth adviser Brendan Foor. The team also includes Carson Hill, Ben Pawlak, and Ben Chen, and serves a client base that includes technology-sector professionals and individuals nearing or in retirement. Emerald Wealth said it serves as a coordinating adviser across estate planning, executive compensation, and stock management, working alongside attorneys and CPAs.
“Our goal has always been to serve as a trusted partner across all areas of our clients’ financial lives,” Trautmann said. “By taking a holistic approach and coordinating every piece of the puzzle, we can help clients make more informed decisions and stay focused on what matters most — achieving their long-term goals.”
Trautmann cited LPL’s open-architecture technology and back-office capabilities as central to the team’s decision to join the platform.
Marc Cohen, chief growth officer at LPL, welcomed both teams in statements issued by the firm.
LPL Financial (Nasdaq: LPLA) custodies approximately $2.3 trillion in brokerage and advisory assets and serves more than 32,000 financial advisers. Earlier this month, LPL added advisory teams Cebert Wealth Advisors and Davis Executive Wealth, bringing a combined $1.6 billion in assets to its platform.
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