LPL Pulls $1B Agency From Merrill Lynch

Monetary advisor Alexander “Alex” Guiliano left Merrill Lynch and launched a brand new unbiased follow, Resonate Wealth Companions, via an affiliation with LPL, the unbiased dealer/vendor introduced Thursday.

Guiliano managed some $1 billion in advisory, brokerage and retirement belongings at Merrill Lynch, in keeping with a press launch, and can be a part of LPL below its Strategic Wealth Providers division.

“I used to be at a stage in my profession the place I needed to take a look at choices throughout the panorama in seek for the perfect house for my shoppers and their households over the subsequent few a long time,” Guiliano mentioned within the launch. “I needed the liberty and suppleness to arrange the shopper expertise the best way I needed and construct the enterprise alone phrases with the fitting companions.”

Primarily based in Ridgewood, N.J., Resonate Wealth Companions was based by Guiliano “with the mission to assist multi-generational households personal their ambitions and long-term objectives whereas additionally navigating the various monetary selections in entrance of them,” said the discharge.

Guiliano is joined by Debbie Appaluccio and Renee Purita, each administrators of shopper relations.

In April 2020, LPL Monetary went dwell with its SWS providing, which was created for advisors with over $200 million in AUM popping out of the wirehouses or regional full-service companies.

LPL offers SWS advisors with a “high-touch” customized service meant to copy the form of enterprise help many received as staff of a full-service agency. That features transition recommendation, help onboarding shoppers, securing actual property, putting in know-how and establishing compliance and advertising and marketing applications.

After the advisor has moved, LPL provides ongoing help with a chief monetary officer guide, a senior advertising and marketing strategist, know-how help, and offers distant administrative assistants and a devoted service staff.

“The Strategic Wealth program lets me give attention to constructing the shopper expertise with out having to give attention to day-to-day operations,” Guiliano mentioned. 

Guiliano, whose shoppers embody various excessive web value traders, mentioned he was additionally drawn to LPL’s non-public shopper companies, together with specialty planning round charitable giving, legacy planning and trusts.

This previous summer time, LPL unveiled the LPL LPL Non-public Consumer Providers Community, connecting advisors with exterior monetary service suppliers for HNW shoppers who want custom-made finance and funding choices for conditions like diversifying concentrated inventory positions or government compensation plans.

Twenty six companies have joined LPL within the SWS channel because it launched, in keeping with a spokesperson. In March, Richard DeYoung and Jessica Boehm, principals of Highland Wealth Companions based mostly in The Woodlands, Texas, joined LPL SWS from Wells Fargo Advisors, the place they managed about $280 million in advisory, brokerage and retirement plan belongings.