LPL Financial says a trio of advisors have joined the firm’s employee advisor channel, Linsco by LPL, from Wells Fargo and Morgan Stanley.
Bob Trent and Gene Foley have joined, separately, from Wells Fargo, while Michael Markovich has joined from Morgan Stanley.
Trent, who had roughly $200 million in client assets at Wells Fargo, will operate Trent Wealth Management of LPL Financial in a new Linsco office based in Santa Rosa, California, according to LPL.
Trent is joined by senior client service associate Anthea Maybury and his son Oliver Trent, who plans to participate in LPL’s Independent Advisor Institute, a program that pairs advisors in training with an established LPL advisor, according to the firm’s website.
LPL “gives us the independence to run our business on our own terms, with more freedom to manage portfolios as we see fit for our clients,” Bob Trent said in a statement. “We will also benefit greatly from LPL’s expansive research and innovative technology, which allows us to work more quickly and effectively.”
Prior to LPL, Trent had been registered with Wells Fargo since 2007, and he started his financial services career at Morgan Stanley in 2002, his BrokerCheck record shows.
Foley, who had about $85 million in client assets at Wells Fargo, has launched Emery Foley Investment Management at LPL Financial in Portland, Oregon.
Foley, a U.S. Army veteran who works remotely out of Portland, Oregon, named his practice for his ancestor and Oregon pioneer Emery Foley, LPL says. He also cited independence as a key reason for his move.
“I wanted the independence that comes with owning my practice, where I can truly focus on doing what’s most appropriate for my valued client relationships,” Foley said in a statement. Linsco’s employee model offered the “strongest level of comfort,” he added.
Foley joined Wells Fargo in 2016 after previous stints at other firms, including five years at Ameriprise Financial and 22 years at A.G. Edwards & Sons, according to his BrokerCheck record. He started in the industry with M.S. Wien & Co in 1992, according to BrokerCheck.
Markovich, who had around $60 million in client assets at Morgan Stanley, will launch Encompass Wealth Management at LPL Financial as the first member of a new Linsco office in Denver.
Markovich specializes in portfolio diversification, strategic investment and wealth accumulation. Most of his clients are high-net-worth individuals, LPL says.
“Working under the Linsco model enables me to build out my practice on my own terms while offering my clients personalized financial advice,” Markovich said. “The support I have received from LPL during this business transition …….
Source: https://www.financialadvisoriq.com/c/3434174/434104/lures_from_wells_fargo_morgan_stanley
