Financial advisor Eddie Chan has partnered with Los Angeles-based Perennial Financial Services to join LPL Financial’s broker-dealer, RIA and custodial platforms, the company announced today.

Chan, who is based in Los Angeles, joins Perennial Financial and LPL from Ameriprise Financial, where he managed about $110 million in client assets. 

“When choosing a firm to affiliate with, I was essentially looking for true independence—the ability to craft the practice and client experience I envision,” Chan said in a news release. “With its versatile investment tools and innovative open-architecture technology, LPL stood out as a top choice.”

Chan said in the news release that he decided to pursue a career in finance after experiencing Black Monday on Oct. 19, 1987, the day the Dow Jones Industrial Average fell by 22%, marking the start of a global stock market decline. Chan said he discovered he had a talent for managing money during an economic downturn, as well as the desire to help others manage theirs in good times or bad times.

With three decades of experience, Chan said he serves a diverse clientele ranging from young professionals to retirees and believes in a comprehensive and process-driven approach to financial planning and investing. 

“LPL’s bespoke services and Perennial’s in-house support will empower me to run my business efficiently while transforming the client experience—something I wasn’t able to do until I joined LPL,” Chan said in the news release.

John Petrick, senior managing director at Perennial Financial Services, said, “Eddie brings over 30 years of financial services experience, as well as an independent and entrepreneurial spirit that perfectly aligns with our core principles and ideals,” he said. “We look forward to partnering with Eddie and helping him continue to grow his practice, while delivering a high level of service his clients deserve and have come to expect.”

Headquartered in Fort Mill, S.C., San Diego and Boston, LPL Financial supports over 20,000 financial advisors, about 1,000 institution-based investment programs and about 500 independent registered investment advisor (RIA) firms nationwide.