LPL Financial LLC announced that financial advisors Jason Sherr and Merrick Nguyen have launched a new independent practice, StrateFi Wealth Management, through affiliation with LPL Financial’s Strategic Wealth Services (SWS) model designed to support the unique needs of breakaway advisors. The advisors reported having served approximately $235 million in advisory, brokerage and retirement plan assets*. They join LPL from Wells Fargo Advisors.
Sherr and Nguyen are longtime colleagues who met through the Orange County CAL (UC Berkeley) Alumni Club. They joined their practices about 10 years ago, as Sherr was looking to expand his team and Nguyen sought opportunities for growth. With support from Kim Burdeaux-Neal, Director of Client Relations, they take a team approach in their mission to provide comprehensive financial services and investment advice to help clients’ grow and preserve their assets and transition wealth to future generations.
Based in Irvine, Calif., and Reno, Nev., the team serves a diverse client base of about 160 households*. Their goal, Sherr said, is to control the controllable. “We can’t control the markets, but we can control how assets are diversified, what to put into portfolios and other strategies to help guide our clients through the complex financial landscape,” Sherr said.
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In creating their new practice, it was important for the advisors to find a name that embodied the essence of their firm. “We chose to unite the words ‘strategy’ and ‘financial independence,’ representing our strategic approach, mission and ultimate goal of helping our clients achieve financial independence and live a life of their choosing,” Nguyen said.
The advisors strategically planned their move to independence. “It was not ‘if’ but ‘when’ we would go independent, because we want this to be our last move,” Sherr said. They chose to partner with LPL Strategic Wealth Services because of the combination of innovative technology and the ongoing business management support. They also appreciate that the breakaway solution removes the constraints of bureaucracy, allowing them to serve their clients and grow the business as they see fit.
‘Hit the ground running on Day 1’ with LPL Strategic Wealth Services
“With the SWS model, we have the technology, support and resources to really hit the ground running on Day 1,” Nguyen said. “Our ultimate goal is to provide enhanced services to our clients. We understand that time is something you can never get back. With the support of the SWS team, we have more time to interface with clients, analyze their portfolios and really give them a differentiated experience.”
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All SWS teams have access to LPL’s integrated wealth management platform and sophisticated resources needed to run a thriving practice, as well as an additional layer of ongoing, personalized support for daily operations and long-term business management. From the very beginning, SWS bridges the transition to independence by providing dedicated launch support, including real estate build-out, brand development, technology setup and HR services. After the transition, the value of the SWS model shifts to the ongoing strategic, administrative, marketing and CFO support that allows advisors to stay focused on the enduring needs of their clients, culture and evolution of their practice.
Scott Posner, LPL executive vice president, Business Development, said, “We extend a warm welcome to Jason, Merrick and Kim and are honored they turned to LPL in their journey to independence. As they begin this exciting next chapter of their business, we will be by their side every step of the way. We are committed to being their long-term partner by delivering robust resources, innovative capabilities and business solutions designed to help them personalize their practice, build value with clients and win in the markets they serve. We look forward to a long-lasting relationship with StrateFi Wealth Management.”
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