• Home: Leading Financial Advisor Recruiting Firm
  • About Us
    • Meet the Team
    • Testimonials
    • Case Studies
    • Representative Deals
  • Services
    • For Financial Advisors
    • For Independent Business Owners
  • FAQs
  • Articles
  • Podcast
    • Industry Update
    • Independence 101 Series
  • In the News
    • Moves in the News
  • Tools for Advisors
    • Advisor Transition Report 2022 – NEW!
    • Merrill Information Hub
    • UBS Information Hub
  • Contact Us
  • Subscribe for Updates

Questions? Call us: 908-879-1002

Contact us...
Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
  • Home
  • About
    • Meet the Team
      • Mindy Diamond
      • Louis Diamond
      • Howard Diamond
      • Jason Diamond
      • Barbara Herman
      • Deborah Aronson
      • Wendy Leung
      • Cathy Nichols
      • Debbie Wallen
      • Allison Brunwasser
      • Joshua Tomolak
      • Shelley Muzio
      • Caryl Felicetta
      • Donna Riopel
      • Kelly Griffiths
    • Testimonials
    • Case Studies
    • Representative Deals
  • Services
    • For Financial Advisors
    • For Independent Business Owners
      • Sell-Side M&A Advisory
      • Consulting
  • FAQs
  • Articles
    • Subscribe for Updates
  • Podcast
    • Industry Update
    • Independence 101 Series
    • Subscribe for Updates
  • In the News
    • Moves in the News
    • Transition Announcements
  • Tools For Advisors
    • NEW – Diamond Consultants Advisor Transition Report 2022
    • Merrill Information Hub
    • UBS Information Hub
    • Other Tools
    • Subscribe to e-Newsletter

In the News

Merrill Veteran Producers Go Indie with LPL and Raymond James Affiliate

Posted by Barbara Herman

Advisor Hub

July 13, 2022
By Jake Martin

A solo producer managing $280 million in Louisiana and a duo managing $300 million in client assets in New Mexico have left Merrill Lynch for LPL Financial and Concurrent Advisors.

In Monroe, Louisiana, Ivan Hendricks on July 8 registered with LPL after 11 years with Merrill, according to registration records and an announcement Tuesday from LPL. He had generated roughly $1.35 million in annual revenue, according to a source familiar with his practice.

His practice, called Candor Wealth Partners, affiliated with LPL through its Strategic Wealth Services (SWS) channel for wirehouse breakaways, according to the announcement. The burgeoning model has attracted about two-dozen teams since its April 2020 launch.

Brokers who subscribe to SWS pay a flat fee for more support on setting up office space, compliance, marketing and operations than if they had just affiliated directly with LPL.

Hendricks spent almost a year searching for a new firm and said that while the SWS model offered lower payouts than other contenders, due to the expenses of having a turnkey advisory platform, it suited his needs for his solo practice.

“They have delivered on what they promised,” he said. “There is a huge depth of support and I have many accountability coaches and helpers keeping all the cogs moving for me so I can focus on [client] acquisition right now.”

Read more…

 

 

You may also be interested in...

Share
0

About Barbara Herman

Senior Vice President – Known for her sound advice, unique perspectives and ability to identify creative solutions. Barbara has developed deep and longstanding strategic relationships with financial services firms – from wirehouses to boutiques, as well as the diverse independent space – and works with some of the most sophisticated teams and individual advisors. Learn more...

    Subscribe for Updates

    Get updated by email when a new article is added.


    Listen. Here. Now

    Recent News & Articles

    • Financing Independence: A Lender’s Perspective on Breakaway Transitions, M&A and Succession
    • Winners and Losers: The Year that Was in the Wealth Management Recruiting Space
    • Recruiters Reveal Their Secrets On Cultivating A Robust Advisor Pipeline
    • What Really Makes Financial Advisors Happy?
    • The big questions facing SVB advisors and their clients
    Schedule a Complimentary Consultation
    We're available to answer your questions. Contact us

    Connect with us

    Search

    © 2023 · Diamond Financial Consultants, LLC t/a Diamond Consultants. All rights reserved.*

    • Leading Financial Advisor Recruiting Firm:
    • About
    • Services
    • FAQs
    • Articles
    • Podcast
    • News/Media
    • Tools/Resources
    • Contact
    • Our Locations
    • Privacy Policy
    • Site Map