LPL Financial Adds Praxis Financial Partners With $1.1 Billion in Assets

GlobeNewswire··US·Read original
2▲1 ▼1Impact / 5
Summary · why it matters

LPL Financial LLC announced that Praxis Financial Partners advisors Scott Christian, Cecil Loyd, Jay Gentry and Matt Dion have joined its broker-dealer and Registered Investment Advisor platform, bringing approximately $1.1 billion in advisory, brokerage and retirement plan assets from Wells Fargo Advisors Financial Network. Based in Alpharetta, Georgia, Praxis is a planning-focused wealth management practice serving business owners, corporate retirees, executives and multigenerational families across 24 states, tracing its roots to 2013 when Christian and Loyd launched the firm. The team said it chose LPL after evaluating more than a dozen firms, citing greater flexibility, advanced planning capabilities, access to emerging technology and support for its long-term independence and succession strategy. LPL Chief Growth Officer Marc Cohen said the four advisors had built Praxis with a clear sense of purpose and a disciplined, planning-first approach. LPL Financial Holdings Inc. supports more than 32,000 financial advisors and approximately 1,100 financial institutions, custodying roughly $2.6 trillion in brokerage and advisory assets.

Impact on assets 3

Digital Finance & Tokenization▲ · 1 stocks
LPL Financial Holdings Inc
LPLA
▲ PositiveDemandrelevance

Praxis Financial Partners joins LPL's broker-dealer and RIA platform, bringing ~$1.1 billion in advisory, brokerage and retirement plan assets.

Financials▼ · 1 stocks
Wells Fargo & Company
WFC
▼ NegativeCompetitionrelevance

Praxis advisors leave Wells Fargo Advisors Financial Network for LPL, taking ~$1.1 billion in assets to a rival.

Aging Population▲ · 1 stocks

Off-coverage companies 1

Praxis Financial PartnersPrivate▲ Positive
Demandrelevance

Praxis joins LPL, citing flexibility, planning capabilities, technology and succession support for its practice.

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