January 21, 2020
Louis Diamond Quoted
By Oisin Breen
Former LPL Financial senior executive Derek Bruton now heads his own independent broker-dealer, after Kingswood Holdings bankrolled and spun off two subunits of Keith Gregg’s start-up, Chalice Wealth Partners (CWP).
Bruton’s Post-LPL career has consisted of shorter stints at smaller enterprises and just under two years at old-line broker-dealer Oppenheimer & Co.
The difference now is that Bruton has the chance to leverage his personal brand in a brokerage realm he knows — and where he is known, says Louis Diamond, principal of Diamond Consulting in New York, via email.
“The [Chalice] brand doesn’t really carry much weight, but Derek’s name and reputation [does] … [It’s] a building block for future deals and an ‘acqui-hire’ to grab someone entrenched in the IBD industry.”