A New Jersey–based economic advisor with about $400 million in advisory, brokerage and retirement program belongings is joining Gladstone Wealth Associates, one particular of LPL Financial’s hybrid RIAs.
Scott E. Howell has a lot more than two decades’ experience in the sector and will start off a new unbiased apply primarily based out of Gladstone’s Chester, N.J., place of work, with designs to open a lover office in the town of Summit. He’ll proceed to perform with investors in New York Metropolis and is signing up for LPL and Gladstone from HSBC.
In a assertion about the shift, Howell said that LPL supplied scale, technological know-how and compliance oversight to allow him operate his small business, and his selection to make the shift came immediately after years of looking into and examining the state of the sector.
“I feel that the impartial design is the greatest scenario situation for my purchasers,” he explained. “It’s constantly been my close sport.”
In addition to a 13-12 months span at HSBC, Howell’s also labored with Citigroup, Chase Investment decision Products and services and Merrill Lynch, in accordance to his BrokerCheck profile. Throughout this time, he served higher-internet-really worth families, executives and little corporations, but the go to LPL and Gladstone marks his initial foray into the independent space and out of the wirehouse and banking channels.
“I genuinely delight in getting back in the advisor society,” he mentioned. “The move allows me to dedicate all of my time exclusively to my clients.”
The transfer arrives quite a few months right after HSBC Holdings introduced it was exiting the U.S. retail banking organization and unloaded about 90 branches to Citizens Financial institution, which incorporated 800,000 new buyers and about 600 personnel to onboard, such as a amount of financial advisors.
LPL’s declared several additions to Gladstone Wealth Companions this 12 months. In May possibly, three Atlanta-based mostly advisors collectively running about $215 million in customer assets joined LPL and Gladstone from UBS Money Solutions. In June, Schaumberg, Sick.–based Puzzle Wealth Alternatives, a 10-person crew with additional than $1.2 billion in belongings, also joined LPL and Gladstone from UBS, whilst Joseph Myer, an Ashburn, Va.–based advisor with about $250 million in AUM, joined LPL aligned with Gladstone from Financial institution of America Merrill Lynch in July.
Gladstone Founder and Chairman Robert Hudson explained in a assertion that the business was proud to support Howell’s transfer into independence, and said it’d give “comprehensive support” backed by Gladstone’s and LPL’s blended assets.
“The development is developing momentum as a lot more advisors continue to go to independence, and we are in this article to deliver individualized help every single move of the way,” he explained.
