KMS has successfully recruited Hansen Wealth Management, a San Jose, Calif.-based independent financial advisory firm with over $330 million in total advisory and brokerage client assets, to its platform.
“My team and I are thrilled to be joining forces with KMS, which has a strong reputation as a hands-on, service-oriented firm that has a highly accessible senior leadership team,” said Blair Hansen, president of Hansen Wealth Management.
KMS Financial Services Inc., an independent advisory and brokerage firm supporting 350 financial advisors across the country, announced the recruitment of Hansen Wealth Management to the firm’s broker-dealer and RIA platforms.
Hansen Wealth Management switched affiliations from National Planing Corp. to KMS because of its ability to support the widest possible spectrum of independent FA business models; its boutique service culture; and the scale, stability and security that come with being a subsidiary firm of Ladenburg Thalmann.
“We're delighted to welcome Hansen Wealth Management to the KMS platform," said Eric Westberg, KMS' CEO. "Hansen Wealth Management’s commitment to providing personalized, expert guidance to clients under a responsive, high-touch service culture aligns perfectly with our firm's service approach and our values.”
LPL announced in August that it bought National Planning Holdings, including its four broker-dealers. NPH advisors were faced with deciding their futures—whether to continue on as affiliates with LPL, move to different broker-dealers, leave the broker-dealer channel or leave the industry entirely. Complicating matters, Finra had approved block transfers of NPH accounts only for advisors moving to LPL, leaving registered reps and advisors who elect not to go to LPL with a longer and more difficult transition process.