CHARLOTTE, N.C., Oct. 24, 2023 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq: LPLA) announced today that financial advisor Tyler B. Powell, AAMS®, CRPC®, has joined LPL’s employee advisor channel, Linsco by LPL Financial, to launch Powell Wealth Management of LPL Financial. He reported having served approximately $200 million in advisory, brokerage and retirement plan assets* and comes to LPL from Stifel. Powell will be the anchor tenant in a new Linsco office in his hometown of Santa Barbara, Calif.
With more than 15 years of industry experience, Powell built his solo practice organically through referrals and networking. His mission is to help clients take advantage of opportunities that might otherwise go unnoticed, and Powell does this by taking an in-depth approach to wealth management and providing personalized, white-glove service. He is joined by Client Services Associate Lorena Huerta-Parra.
“We have an investment philosophy created exclusively for high-net-worth clients with complex needs,” said Powell, who primarily serves business owners, executives and multigenerational wealth families. “We individually customize strategies covering each aspect of their financial needs, with a bespoke approach, delivered by a select group of top-notch specialists. Our comprehensive and holistic wealth management services include sophisticated asset management strategies, advanced estate planning, trust services, tax planning, lending, financial planning, insurance and more.”
As Powell’s business grew and clients came to expect more services, he embarked on a search for a new wealth management firm to help him take the business to the next level. Powell sought more freedom and flexibility to run the business on his own terms, along with innovative technology and access to an experienced team of specialists to complement his team.
Why Linsco by LPL Financial
“We chose LPL Financial, the industry leader and largest independent wealth management firm in America, to deliver an improved experience to our clients — an experience that is rooted in sophisticated technology, comprehensive wealth management resources and investment services,” Powell said. “As the financial landscape evolves, LPL has the research and resources to adapt to the changing environment. Through an extensive due diligence process, it became clear to me that LPL is a company focused on the right platform now and in the future.”
Not wanting to start from scratch, Powell was drawn to the Linsco employee advisor model that helps bridge the gap between working in a wirehouse environment and being independent. Linsco serves financial advisors seeking the core tenets of independence, including owning their client relationships and having the flexibility to run their practice on their own terms. With Linsco, advisors have access to LPL’s integrated wealth management platform and robust business resources, along with the additional benefits of having support from an experienced branch management team and other dedicated consultants.
“With Linsco, we have dedicated resources and support so we don’t have to do everything on our own,” Powell said. “The whole platform is designed to help take care of the business side of the house so that I can focus on giving my clients the white glove service they deserve.”
Powell also plans to tap into LPL’s high-net-worth specialists such as the estate and business owner planning team, income tax strategists, trust services, insurance specialists, and banking and lending partners. “These resources will help me deliver wealth management and legacy planning for clients who need simple solutions to complex problems,” he said.
Outside of work, Powell is committed to giving back to his community. He is the investment committee chair for The Santa Barbara Hospice Foundation and a past president of the Carpinteria Education Foundation. “I was born and raised in this town and feel blessed to have the opportunity to serve my community,” Powell said.
LPL Executive Vice President, Business Development, Scott Posner said, “We are pleased to welcome Tyler to the LPL community. His desire to provide exceptional service and keep clients’ needs at the top of mind is firmly aligned with LPL’s mission to take care of our advisors so they can take care of their clients. We do this by creating differentiated and compelling experiences, for both advisors and their clients. We deliver innovative high-net-worth solutions, integrated capabilities and robust resources that give advisors ultimate flexibility in how they manage and grow their business. We look forward to a long-lasting relationship with Powell Wealth Management.”
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About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that LPL should work for advisors and enterprises, and not the other way around. Today, LPL is a leader in the markets we serve, serving nearly 22,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 550 registered investment advisor ("RIA") firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and enterprise leaders have the freedom they deserve to choose the business model, services and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors and enterprises, so they can take care of their clients.
Securities and Advisory services offered through LPL Financial LLC ("LPL Financial"), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States.
Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.
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*Value approximated based on asset and holding details provided to LPL from year-end 2022.
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