LPL Financial welcomes four new advisors to Carnegie Private Wealth, managing approximately $475 million in assets.
Quiver AI Summary
LPL Financial LLC has announced the addition of financial advisors James Larsen, Lucas Decker, Kevin Lewis, and Seth Miller to its network, aligned with Carnegie Private Wealth. The advisors, who collectively handle around $475 million in assets, come from Wells Fargo Advisors and Edward Jones, bringing their family-oriented and client-centric approach to Carnegie Private Wealth, which is supported by LPL Strategic Wealth. Each advisor expressed enthusiasm about the advanced resources and collaborative environment offered by Carnegie and LPL, which enhance their capacity to provide personalized financial strategies. Carnegie's rapid growth since its launch in 2023 validates its commitment to exceptional client service and community impact. LPL Executive Vice President Scott Posner welcomed the new advisors, emphasizing LPL's support for their efforts in enhancing client experiences and helping them thrive in wealth management.
Potential Positives
- Four experienced financial advisors joined LPL Financial, bringing approximately $475 million in advisory, brokerage, and retirement assets, enhancing the firm's asset management capabilities.
- Carnegie Private Wealth, aligned with LPL, has demonstrated rapid growth and success since its inception in 2023, reflecting positively on LPL's strategic partnerships.
- The addition of these advisors emphasizes LPL's commitment to client-centric services and high standards in wealth management, which is expected to strengthen client relationships and satisfaction.
- Support from LPL's innovative technology and business solutions is highlighted as a significant advantage for the new advisors, potentially leading to improved service offerings and enhanced client experiences.
Potential Negatives
- The press release does not address any specific challenges or criticisms faced by LPL Financial or Carnegie Private Wealth, potentially indicating a lack of transparency or an inability to respond to negative perceptions in the market.
- The announcement focuses heavily on new hires and growth, which may overshadow existing issues within the organization, such as employee retention or integration challenges, without any acknowledgment or insights added by the company.
- The reliance on newly joined advisors to highlight growth raises concerns about the sustainability of this growth model, especially if it depends heavily on recruiting talent rather than improving existing advisor performance.
FAQ
Who are the new advisors joining LPL Financial?
The new advisors are James Larsen, Lucas Decker, Kevin Lewis, and Seth Miller, all joining from established firms.
What assets do these advisors manage?
The advisors collectively serve approximately $475 million in advisory, brokerage, and retirement assets.
Why did the advisors choose Carnegie Private Wealth?
They chose Carnegie Private Wealth for its advanced planning resources, collaborative team, and exceptional client service support.
What is the mission of Carnegie Private Wealth?
Carnegie Private Wealth focuses on exceptional client service, professional excellence, and making a meaningful community impact.
What does LPL Financial provide to its advisors?
LPL Financial offers innovative technology, differentiated business solutions, and a robust wealth management platform for advisors.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$LPLA Congressional Stock Trading
Members of Congress have traded $LPLA stock 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $LPLA stock by members of Congress over the last 6 months:
- SENATOR MARKWAYNE MULLIN purchased up to $100,000 on 02/13.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$LPLA Insider Trading Activity
$LPLA insiders have traded $LPLA stock on the open market 13 times in the past 6 months. Of those trades, 0 have been purchases and 13 have been sales.
Here’s a breakdown of recent trading of $LPLA stock by insiders over the last 6 months:
- MATTHEW J AUDETTE (President and CFO) has made 0 purchases and 9 sales selling 33,365 shares for an estimated $12,159,676.
- MATTHEW ENYEDI (Managing Director) sold 5,154 shares for an estimated $1,903,526
- RICHARD STEINMEIER (Chief Executive Officer) sold 3,500 shares for an estimated $1,308,265
- MARC ELIOT COHEN (Managing Director) sold 1,100 shares for an estimated $402,435
- ANERI JAMBUSARIA (Managing Director) sold 305 shares for an estimated $101,241
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$LPLA Hedge Fund Activity
We have seen 331 institutional investors add shares of $LPLA stock to their portfolio, and 404 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CAPITAL RESEARCH GLOBAL INVESTORS removed 1,577,102 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $366,881,238
- FIRST TRUST ADVISORS LP removed 981,006 shares (-99.0%) from their portfolio in Q4 2024, for an estimated $320,308,269
- BOSTON PARTNERS added 805,637 shares (+26.0%) to their portfolio in Q4 2024, for an estimated $263,048,536
- JANUS HENDERSON GROUP PLC added 522,032 shares (+20.6%) to their portfolio in Q4 2024, for an estimated $170,448,668
- EMINENCE CAPITAL, LP removed 519,462 shares (-48.2%) from their portfolio in Q4 2024, for an estimated $169,609,537
- BALYASNY ASSET MANAGEMENT L.P. added 471,488 shares (+inf%) to their portfolio in Q4 2024, for an estimated $153,945,546
- DODGE & COX added 454,553 shares (+2922.0%) to their portfolio in Q4 2024, for an estimated $148,416,100
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SAN DIEGO, March 12, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors James Larsen, CFP ® , Lucas Decker, CFP ® , Kevin Lewis, CFP ® , CEPA ® , and Seth Miller, CFP ® , CEPA ® , have joined LPL Financial’s broker-dealer, Registered Investment Advisor (RIA) and custodial platforms, aligned with Carnegie Private Wealth , an existing firm supported by LPL Strategic Wealth . The advisors reported serving approximately $475 million in advisory, brokerage and retirement assets.* Larsen joins LPL from Wells Fargo Advisors, and Decker, Lewis and Miller join from Edward Jones.
Carnegie Private Wealth launched in 2023 with LPL Strategic Wealth and has been on an upward growth trajectory ever since. They leveraged LPL’s business strategists, marketing resources and a dedicated CFO partner to help bring on like-minded advisors, which they found in Larsen, Decker, Lewis and Miller — all family-oriented advisors who share a deep commitment to going above and beyond for clients.
Meet James Larsen
Larsen spent 18 years in international business management prior to becoming an advisor in 2001. His objective is to provide a sense of serenity while helping clients manage and preserve their wealth. He chose to join LPL and Carnegie to help ensure business continuity.
“I’ve known many of the professionals at Carnegie Private Wealth for years and have always respected their expertise, client-first approach and values,” Larsen said. “Joining this team allows me to collaborate with advisors who share my commitment to creating meaningful financial strategies for clients. Their advanced planning resources and genuine focus on building generational relationships puts me in position to enhance my client's lives moving forward.”
Meet Lucas Decker
After a successful decade as a financial advisor, Decker has built a practice around providing clear, strategic financial solutions for business owners, corporate executives and pre-retirees. His approach as a CFP® combines formal education with real-world experience, helping ensure clients receive practical, well-informed guidance at every stage of life.
“Carnegie Private Wealth offers what I've been searching for; advanced planning resources, collaborative expertise, and innovative technology that allows me to create customized solutions for my clients,” Decker said. “Their independent approach with support from LPL means I can focus on building lasting relationships and delivering personalized strategies that evolve with my client’s needs.”
Meet Kevin Lewis
Lewis has been a financial advisor for 10 years. He takes great pride in understanding his clients’ unique stories, passions and goals, working primarily with business owners, sales executives, young professionals, families and individuals preparing for retirement.
Lewis said, “I chose to join Carnegie Private Wealth because of its robust resources, collaborative team and commitment to exceptional client service. With the additional support from LPL, this transition enables me to adopt a team-based approach and deliver more comprehensive, strategic financial planning for my clients.”
Meet Seth Miller
Miller, who started working in financial services in college, became an advisor in 2011. His primary focus is helping successful young professionals and business owners with wealth preservation and intergenerational wealth planning. He said the move to Carnegie Private Wealth and LPL became an “obvious choice” after his due diligence process.
“The team approach allows for comprehensive expertise from tax planning to investment research,” Miller said. “By going independent with Carnegie Private Wealth and LPL, I have more freedom to make decisions at a local level that are truly in my clients’ best interests. Additionally, what sets the Carnegie Private Wealth team apart is their dedication to wealth management and exceptional client service above all else.”
Carnegie Private Wealth’s rapid growth is validation of their model and culture, which centers on exceptional client service, professional excellence and making a meaningful impact in their community.
Jordan Raniszeski, Senior Managing Partner and Founder of Carnegie Private Wealth, welcomed the advisors to Carnegie. He said, “This strategic expansion reflects our commitment to serving clients with excellence and expertise. Each of these professionals brings specialized skills and a shared understanding that success in wealth management comes from putting clients first. Their proven experience allows us to guide more families toward their aspirations while preserving the personal connections they’ve come to trust.”
Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome James, Lucas, Kevin and Seth to the LPL community and congratulate Carnegie on strategically growing its team of client-centric advisors. We are committed to supporting them with innovative technology, differentiated business solutions and robust wealth management platforms designed to create enhanced client experiences and help advisors thrive. We look forward to a long and successful relationship with the entire Carnegie team.”
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About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports nearly 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.7 trillion in brokerage and advisory assets on behalf of approximately 6 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com .
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Carnegie Private Wealth and LPL are separate entities.
Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.
We routinely disclose information that may be important to shareholders in the “ Investor Relations ” or “ Press Releases ” section of our website.
*Value approximated based on asset and holding details provided to LPL from end of year, 2024.
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