A team of financial advisers at Westlake Village, Calif., Has moved their business book to the LPL Financial. Townsgate's wealth management, which manages about $ 1.15 billion in customer assets, joins the Fargo Financial Fargo Financial Network, the Independent Bank/Trader's Independent Channel.
Townsgate was founded in 2016 and mainly serves individuals of high net value, families and business owners. They provide portfolio management, fixed income analysis and pension planning. The firm is run by advisers Jim Murray, Larry Bernstein, Abby Goldstein, Michael Kazmer, Brett Goldberg and Wesley Wong. They have been joined by administrative assistants Sarah Levi-Sickman, Joni Melickian and Claire TRATACOSTA.
The team spent a year performing proper care before deciding to move to LPL. They withdrew from culture, reputation, systems and LPL platforms, according to Bernstein.
This follows the news earlier this week than LPL added a confidence -based practice by the securities of Synovus. Advisors Joe Young and Ryne Stokes joined the LPL employee channel, LPL Financial, to start servants Path Wealth Partners, a Columbus -based firm, with about $ 400 million in wealth.
LPL has been in a legal battle with Ameriprise for its recruitment of advisers. In special lawsuits in Washington and California, both firms are fighting over advisers fleeing America for LPLsupposedly violating their contracts, violating the protocol for the recruitment of the broker and taking with them confidential client information.
In another litigation that includes a the trio who left Ameriprise for LPLA federal judge in Arizona this week hit America's attempt for a temporary detention order against former employees who left, writing that the firm's arguments are “insufficient to show success in the merits of the LPL claims”.