LPL Financial has announced the launch of a new independent practice, dubbed Air Capital Wealth Management, by financial advisors Michael Caffrey, Derek Keller, and Gabriel Parham.
Launched in affiliation with LPL Strategic Wealth Services, Air Capital Wealth Management will be operated in a supported independence model.
Its founders are longtime colleagues who bring diverse experiences and perspectives.
The financial advisors have served around $685m in advisory, brokerage and retirement plan assets and joined LPL from Merrill Lynch.
Parham said: “Our mission is to help each individual client with their financial goals by simplifying the complexities, making it easier for them to understand.
“We are passionate about building deep relationships with clients and providing them with personalized financial strategies.”
Keller said: “We truly appreciate all of these dedicated resources and sophisticated capabilities behind the scenes to allow us to run the business as we see fit while also ensuring clients are getting the best care.”
Air Capital has selected an independent model, supported by LPL’s comprehensive supported independence solution, LPL Strategic Wealth Services (SW).
The SW solution combines the freedom and flexibility of entrepreneurship with hands-on business services to help practices operationally and strategically grow.
In addition to LPL’s wealth management platform and resources, SW advisors offer simplified pricing, technology, and dedicated support to launch their practice.
After the transition, SW teams will receive ongoing support managed by an experienced team comprising a business strategist, marketing partner, CFO, and administrative assistant.
As independent advisors, the founders intend to expand their local presence using Wichita-based vendors and invest back into the community.
Caffrey said: “We want to be able to focus on clients, their goals and objectives, not corporate mandates. LPL provides us with the flexibility and resources we need to make our own decisions and build our business how we want.
“We also have several new options across the board within LPL’s open architecture platform, including more planning software, which allows us to provide even more comprehensive and personalised experiences for our clients.”
LPL business development executive vice president Scott Posner said: “We are committed to being a long-term partner to the Air Capital team, and all our advisors, by delivering a leading wealth management platform that supports the full lifecycle of their business.”
