LPL Financial announced Thursday that it had picked up another advisor from Wells Fargo Advisors.
Steven Jolly has joined Ford Financial Group, a Fresno, Calif., financial services firm, which is supported by LPL’s broker-dealer and hybrid registered investment advisor platform. Jolly, who was formerly with Wells Fargo, handles $190 million in AUM.
He said LPL’s resources were crucial in his decision to switch. “LPL’s size is a big advantage. I now have access to a scope of resources that will help to deepen the relationships I have with clients.”
Jolly is one of several advisors and firms that have made the switch from embattled Wells Fargo to LPL and other broker-dealers and RIAs just this month.
On November 14, LPL announced Levy, Daniel & McGee Wealth Management, based in Lodi, Calif., had joined LPL’s broker-dealer and corporate RIA platforms. The firm, with $200 million of client brokerage and advisory assets, joined from Wells Fargo Financial Network.
In a similar move, Triad Advisors of Atlanta announced it had added Stonebridge Financial Group to its platform, another team from Wells Fargo. Stonebridge, which has offices in Wormleysburg and Gettysburg, Pa., has $850 million in advisory and brokerage client assets.
TD Ameritrade Institutional gained the custody business of the $1 billion Salomon & Ludwin, a wealth management firm based in Richmond, Va., on November 9. Salomon & Ludwin had also been aligned with Wells Fargo.