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Advisor Moves: Wells Fargo, LPL, EP Wealth, and More

By Alex Padalka October 15, 2018

A wealth management practice previously affiliated with First Allied Securities has switched to LPL Financial, according to a press release from LPL.

Gulf Coast Wealth Advisors, whose advisors oversee around $110 million, joins LPL’s broker-dealer and corporate RIA platforms, LPL says. The Sarasota, Fla.-based firm is led by advisor Jeffrey LaBelle, a 30-year veteran of the financial services industry, according to the press release.

He’s joined by advisor John Scott and client services representative Kristin Begley, LPL says.

“We are thrilled to be with LPL for our clients and for our team,” LaBelle, Gulf Coast’s CEO and founder, says in the press release. “The resources, research and technology available from LPL will enable us to provide a new level of investment and financial planning to our clients, helping to provide them more confidence in their financial futures.”

EP Wealth Advisors Acquires $118M RIA

EP Wealth Advisors continues its acquisition streak, most recently buying Rampart Wealth Advisors in the Denver area, according to a press release from EP Wealth.

Greenwood Village, Colo.-based Rampart Wealth, formed by financial planners David Heinz and Nicholas Hatfield, oversees $118 million, EP Wealth says. The deal, the terms of which the companies didn’t disclose, closed Oct. 5, according to the press release.

“As our firm grew, we devoted more time to administrative and business tasks, but we quickly realized we needed back-office support so we could spend more time with our clients,” Hatfield says in the press release. “EP Wealth’s extensive resources provide the support we need, and our partnership will allow us to refocus our efforts on what’s important: helping clients reach their financial life goals.”

This is EP Wealth’s fourth acquisition this year as well as its fourth since it partnered with financial services holding company Wealth Partners Capital Group in July 2017.

Last month, EP Wealth acquired a $191 million RIA in Manhattan Beach, Calif.

Wells Fargo Loses Advisors to Blair, SunTrust

Wells Fargo’s advisors continues fleeing the firm, most recently to William Blair and SunTrust Private Wealth Management.

A team of Wells Fargo Advisors representatives managing more than $300 million have jumped ship to William Blair, according to a press release from William Blair.

The Hill Investment Group, which includes financial advisors Dan Furhman, Gary Garabedian and Bob Hill, as well as client relationship associate Michele McMahon, joins William Blair’s wealth management practice in San Francisco, according to the press release.

Hill Investment serves high net worth individuals and families, business owners, nonprofits, foundations and endowments, William Blair says.

“We have always admired William Blair’s strong reputation and independent, partnership culture,” Furhman says in the press release. “The firm has accessible and expansive resources available to their clients and we’re excited to serve the San Francisco market.”

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William Blair, which also offers investment banking, has also expanded its wealth management presence in recent years to Atlanta, Boston and New York, according to the company.

Wells Fargo also lost a pair of advisors to SunTrust Private Wealth Management. Walter Kennedy IV and Patrick Long, along with associates Amanda Mayhew and Jennifer James, are joining SunTrust’s regional headquarters in Charlotte, N.C., according to a press release from SunTrust. Kennedy, who began his financial services career in 1999 at UBS Financial Services, had been with Wells Fargo since 2008, according to his BrokerCheck profile.

Long began his career with UBS in 1998 and also joined Wells Fargo in 2008, according to his BrokerCheck profile.