Three Wells Fargo teams managing a combined $1.45 billion in advisory, brokerage and retirement plan assets in North Carolina have joined forces to launch an independent practice with LPL Financial through its affiliation with LPL Strategic Wealth Services, according to a news release.

The Carnegie Private Wealth Group, based in Charlotte’s South Park community, is the largest team by assets to join the LPL breakaway solution for advisors and the 29th team to join since the model launched in April 2020, the release noted.

Founded by Angie Ostendarp, Jordan Raniszeski and Mary Sherrill Ware, the team in January was ranked as one of the top 10 wealth management teams in North Carolina by Forbes. The team, which represents the core group of the combined teams, also includes seven client services support members. It managed $1.05 billion.

Ostendarp began her career at the former Wachovia Brokerage Securities (Wells Fargo predecessor) in 1994, according to BrokerCheck. Raniszeski started at Wells Fargo in 2007. He entered the industry with Deloitte & Touche Investment Advisors in 2004, and Ware began with Wells Fargo in 2006.

“After thinking through all the options available in the marketplace, the opportunity to create our own firm at LPL with a culture that prioritizes clients’ needs and interests above everything else just felt like the right way forward,” Raniszeski said in a statement.

“This move is truly the best of both worlds. We have the freedom and flexibility to serve our clients at the highest possible level while receiving the support necessary to run a great business,” added Ostendarp.

Joining them are two other veteran advisors: Mitch Mayfield and Jeff Vandiver.

Mayfield has known Ostendarp since 1994 when the two began their career with Wachovia. He managed $220 million in assets. “By going independent and joining the Carnegie team, we’ll have shared resources, knowledge and information to help better serve my clients and ensure they’re taken care of well into the future,” he said.

Vandiver, who also has more than 30 years in the industry, was with Wells Fargo for 22 years. “Putting the clients’ needs first is the difference between serving them versus advising them,” said Vandiver, who managed $220 million in assets. “I’ve been friends with Angie, Jordan and Mitch for 20 years, and this felt like the right time to make a move that adds significant value to my clients."