LPL Welcomes Legacy Premier Wealth Management

LPL Welcomes Legacy Premier Wealth Management

  • 18.03.2025 14:17
  • markets.businessinsider.com
  • Keywords: LPL Financial, Ameriprise

LPL Financial has welcomed Legacy Premier Wealth Management, led by Larry Hubbard, Craig Conner, and Jade Maasch, who joined from Ameriprise to provide comprehensive wealth management services. The team is committed to helping clients create lasting financial legacies.

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Estimated market influence

LPL Financial

LPL Financial

Positivesentiment_satisfied
Analyst rating: Buy

Announced the addition of financial advisors from Legacy Premier Wealth Management, enhancing their advisor network and potentially increasing assets under management.

Ameriprise

Ameriprise

Negativesentiment_dissatisfied
Analyst rating: Buy

Lost three key financial advisors to LPL Financial, which may impact their advisory services and client relationships.

Context

Analysis of LPL Financial's Acquisition of Legacy Premier Wealth Management

Key Facts and Data Points

  • Advisors Joining: Larry Hubbard, Craig Conner, and Jade Maasch joined LPL Financial from Ameriprise.
  • Assets Brought: The team reported serving approximately $275 million in advisory, brokerage, and retirement plan assets.
  • Rebranding: The team rebranded from Alliance Financial Partners to Legacy Premier Wealth Management.
  • Locations: Based out of Greeley, Colo., and Cheyenne, Wyo.

Market Trends and Business Impact

  • Advisory Industry Growth: LPL Financial supports nearly 29,000 financial advisors and manages approximately $1.7 trillion in brokerage and advisory assets for about 6 million Americans.
  • Open Architecture Platform: LPL’s platform offers flexibility by not requiring proprietary investment products, attracting advisors seeking independence.

Competitive Dynamics

  • LPL's Differentiation: Competes with firms like Ameriprise by offering a scalable, open architecture platform and dedicated support teams.
  • Advisors' Choice: The Legacy Premier team chose LPL over Ameriprise due to its flexibility and operational efficiency.

Strategic Considerations

  • Client-Centric Approach: Legacy Premier focuses on building long-term relationships with clients and communities through volunteering.
  • Operational Efficiency: LPL provides tools for advisors to maintain efficiency and focus on client needs.

Long-Term Effects and Market Implications

  • Market Expansion: The acquisition strengthens LPL's position in the wealth management sector, potentially attracting more advisors and institutions.
  • Client Attraction: The move positions Legacy Premier as a competitive force in the region, enhancing LPL’s market presence.

Regulatory Considerations

  • No direct regulatory impacts mentioned, but compliance with industry standards remains critical for both firms.

This analysis highlights the strategic benefits of LPL's acquisition and its potential to solidify the company's leadership in the wealth management industry.