Financial advisor Ivan Hendricks has exited Merrill Lynch, where he managed $280 million in client assets, to affiliate with LPL Financial’s Strategic Wealth Services as Candor Wealth Partners in Monroe, La., the company announced today in a news release.

According to LPL’s website, its Strategic Wealth Services affiliation model is for breakaway wirehouse advisors who want to run their practice like an independent business, but without the hassles of entrepreneurship.

Hendricks was reportedly influenced at an early age by his financially astute grandfather, who regaled the young boy with stories of investing and valuable nuggets of financial advice his grandson could take with him into adulthood. After pursuing a degree in finance, Hendricks combined his passion for investing with a desire to help people by helping them achieve their financial goals in life. 

When he made his latest decision to move to LPL, Hendricks said it was because he needed a new partner capable of helping him elevate his practice to the benefit of his clients, while also giving him free rein to operate his business on his terms. 

“I spent almost a year investigating my options, going through the pros and cons, and LPL always came out on top,” Hendricks said in the news release. “I feel like I have a brain trust and all hands on deck behind me. It’s a well-run operation that lets me focus on what’s in the best interest for my clients.” 

Scott Posner, LPL's executive vice president of business development, said the Strategic Wealth Services affiliation model allows advisors to run their practices as a business, but without the headaches of being independent business owners.

Hendricks had been with Merrill Lynch since 2010, according to BrokerCheck. Before that, he spent three years with Edward Jones, where he began his career.

He said in the release that it’s vitally important to be able to do what best for his clients. “LPL frees advisors to do what they love, while providing integrated services and support such as innovative planning software. It’s a win/win.”

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