LPL Financial today announced that a former Osaic duo who managed $410 million in advisory, brokerage and retirement plan assets has joined its broker-dealer, RIA and custodial platforms in Westlake Village, Calif.
Managing partners Scott D. Nelson and Kamie Abraham operate Nexus Wealth Partners. They are joined by four support staff members, according to a news release.
Nelson and Abraham began their careers with Osaic 18 and 10 years ago, respectively, according to BrokerCheck. Nelson has focused on business owners, corporate executives, retirees and wealthy multigenerational families, the release said, noting that he also manages the entertainment industry wing of Nexus Wealth Partners. Abraham specializes in helping women in life transitions, families and retirees develop and implement personalized strategies.
The pair said they were looking for a firm that was designed to propel the next phase of growth for their business and after eight months they chose LPL.
“Our decision to join LPL was a strategic one, driven by our quest for a partner that could equip us with the robust technology, vast resources and integrated capabilities to streamline the client experience and elevate our service offering,” Abraham said in a statement. “We appreciate the ease of doing business with LPL, both for our team and clients."
Nelson said it was important to have a long-term partner to help with growth. “We will continue to build out our team, bringing in junior advisors to help educate, mentor and collaborate with. There’s a shortage of advisors and a huge need for qualified financial planning. We believe through LPL and our experience we can fill that gap and grow while maintaining a high level of service to our clients,” he said.