At a glance
- Walker reported serving about $300 million in assets across retirement plans and individual wealth management relationships, including retirees and business owners.
- For allocators whose clients hold accounts with independent-channel advisers, LPL's recruiting flow is the relevant comparison, not any one book's $300 million.
- LPL said it recruited $25 billion in assets in the second quarter, up 35% from a year earlier.
Kacy Walker left Cetera to launch Kinetic Wealth through LPL Independent Advisor Network, LPL Financial's supported-independence model, LPL said Oct. 22. Walker reported serving about $300 million in assets across retirement plans and individual wealth management relationships, including retirees and business owners.
For allocators whose clients hold accounts with independent-channel advisers, LPL's recruiting flow is the relevant comparison, not any one book's $300 million.
LPL said it recruited $25 billion in assets in the second quarter, up 35% from a year earlier. LPL is scheduled to report third-quarter results after the close on Oct. 27.
Kinetic Wealth's services include budgeting, retirement preparation, investment planning, debt management and estate planning, according to LPL. Walker said independence drove the choice of platform.
Advisers joining the independent network get transition support, growth coaching and consulting, plus operational, compliance and administrative support from regional LPL teams, according to LPL.
Walker is the latest California adviser to leave Cetera for LPL; Steve Williams moved his $340 million Los Alamitos practice to LPL's broker-dealer and RIA platform in July. LPL also added Prince Financial Services, a Seattle practice reporting about $1 billion in assets from Northwestern Mutual on Oct. 14, and the $1.1 billion Praxis Financial Partners team from Wells Fargo Advisors Financial Network on Oct. 5.
LPL Financial Holdings Inc. supports more than 32,000 financial advisers and the wealth management practices of approximately 1,100 institutions, and custodies approximately $2.6 trillion in brokerage and advisory assets.
Reported by the Evergreen & Interval Funds desk from AltsWire. Published . Corrections