Wayne McCormick joins LPL Financial to launch McCormick Private Wealth, serving clients with personalized financial strategies.
Quiver AI Summary
LPL Financial LLC announced that financial advisor Wayne McCormick, CFP®, CHFC® has joined Linsco by LPL Financial to establish McCormick Private Wealth. McCormick brings 30 years of experience in financial services, managing approximately $340 million in advisory, brokerage, and retirement plan assets. Based in Manchester, N.H., his team includes advisors Michelle Lauder and Bo Denniston, focusing on helping individuals and families with important financial decisions, particularly those in or preparing for retirement. McCormick emphasizes the importance of trust and personalized financial advice, aiming to simplify complexity and support clients in achieving their long-term financial goals. He chose LPL for its independence, technology, and support, which he believes enhances client relationships and planning efficiency. LPL's Chief Growth Officer expressed enthusiasm for supporting McCormick's new practice.
Potential Positives
- Wayne McCormick, a seasoned financial advisor with 30 years of experience, brings significant assets under management ($340 million) to LPL Financial, enhancing the firm's reputation and asset base.
- The launch of McCormick Private Wealth under LPL's Linsco model signifies the firm's strength in supporting independent practices, aligning with the growing trend of advisor independence.
- LPL Financial's provision of integrated technology and institutional support attracts experienced advisors like McCormick, demonstrating the firm's competitive advantages in the wealth management industry.
- The emphasis on personalized, planning-focused financial services reflects LPL's commitment to customer-centric approaches, potentially leading to increased client satisfaction and retention.
Potential Negatives
- McCormick's move to establish McCormick Private Wealth suggests a potential loss for LPL, as highly established advisors like McCormick may attract clients away from LPL's existing offerings.
- The press release does not provide specific metrics or data on the financial performance or growth trajectory of LPL following the addition of McCormick, which may raise concerns about its long-term stability and market competitiveness.
- By highlighting McCormick's independent practice, there may be implications regarding LPL's ability to retain top-tier advisors, potentially affecting morale and client confidence among remaining advisors.
FAQ
Who is Wayne McCormick and what does he do?
Wayne McCormick is a financial advisor who launched McCormick Private Wealth with a focus on personal financial planning.
What is McCormick Private Wealth's focus?
The firm specializes in helping individuals and families with retirement planning and long-term financial strategies.
Why did Wayne McCormick choose LPL Financial?
He chose LPL for its independence, integrated technology, and strong institutional support for financial advisors.
What services does LPL Financial provide to advisors?
LPL Financial offers various advisor affiliation models, investment solutions, fintech tools, and practice management services.
How many financial advisors does LPL Financial support?
LPL Financial supports over 32,000 financial advisors across the United States.
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 Insider Trading Activity
$LPLA insiders have traded $LPLA stock on the open market 18 times in the past 6 months. Of those trades, 0 have been purchases and 18 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 10 sales selling 3,160 shares for an estimated $1,025,616.
- MARC ELIOT COHEN (Group Managing Director) has made 0 purchases and 2 sales selling 3,300 shares for an estimated $1,019,995.
- MATTHEW ENYEDI (Group Managing Director) has made 0 purchases and 5 sales selling 2,109 shares for an estimated $675,191.
- ANERI JAMBUSARIA (Group Managing Director) sold 308 shares for an estimated $94,248
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$LPLA Revenue
$LPLA had revenues of $4.9B in Q1 2026. This is an increase of 34.56% from the same period in the prior year.
You can track LPLA financials on Quiver Quantitative's LPLA stock page.
You can access data on LPLA stock through the Quiver Quantitative API.
$LPLA Congressional Stock Trading
Members of Congress have traded $LPLA stock 7 times in the past 6 months. Of those trades, 7 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:
- REPRESENTATIVE GILBERT RAY CISNEROS, JR. has traded it 7 times. They made 7 purchases worth up to $105,000 on 05/19, 05/14, 05/12, 05/07, 05/01, 04/06, 03/27 and 0 sales.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.
$LPLA Hedge Fund Activity
We have seen 357 institutional investors add shares of $LPLA stock to their portfolio, and 466 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CAPITAL WORLD INVESTORS removed 1,312,911 shares (-36.2%) from their portfolio in Q1 2026, for an estimated $394,963,016
- M&T BANK CORP added 1,136,952 shares (+27955.5%) to their portfolio in Q4 2025, for an estimated $406,085,145
- SAMLYN CAPITAL, LLC added 744,101 shares (+47.1%) to their portfolio in Q1 2026, for an estimated $223,847,903
- PRINCIPAL FINANCIAL GROUP INC added 702,061 shares (+36.3%) to their portfolio in Q1 2026, for an estimated $211,201,010
- FMR LLC added 632,711 shares (+95.1%) to their portfolio in Q1 2026, for an estimated $190,338,450
- KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC removed 618,457 shares (-26.9%) from their portfolio in Q1 2026, for an estimated $186,050,419
- MILLENNIUM MANAGEMENT LLC added 585,543 shares (+192.2%) to their portfolio in Q1 2026, for an estimated $176,148,900
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
$LPLA Analyst Ratings
Wall Street analysts have issued reports on $LPLA in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Barclays issued a "Overweight" rating on 01/30/2026
- JP Morgan issued a "Overweight" rating on 01/30/2026
- Jefferies issued a "Buy" rating on 01/30/2026
To track analyst ratings and price targets for $LPLA, check out Quiver Quantitative's $LPLA forecast page.
$LPLA Price Targets
Multiple analysts have issued price targets for $LPLA recently. We have seen 9 analysts offer price targets for $LPLA in the last 6 months, with a median target of $390.0.
Here are some recent targets:
- Benjamin Budish from Barclays set a target price of $412.0 on 05/01/2026
- Bill Katz from TD Cowen set a target price of $326.0 on 05/01/2026
- Michael Brown from UBS set a target price of $395.0 on 05/01/2026
- Michael Cho from JP Morgan set a target price of $390.0 on 05/01/2026
- Michael Cyprys from Morgan Stanley set a target price of $374.0 on 04/10/2026
- Chris Allen from Keefe, Bruyette & Woods set a target price of $350.0 on 04/08/2026
- Daniel Fannon from Jefferies set a target price of $383.0 on 04/06/2026
Full Release
SAN DIEGO, June 30, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisor Wayne McCormick, CFP®, CHFC® has joined Linsco by LPL Financial to launch McCormick Private Wealth . He reported serving approximately $340 million in advisory, brokerage and retirement plan assets* and joins LPL from Steward Partners.
Based in Manchester, N.H., the McCormick Private Wealth team also includes Michelle Lauder, CFP® and Bo Denniston. They serve individuals and families navigating some of life’s most important financial decisions, including those approaching or living in retirement. The practice also supports multigenerational relationships, working with clients who are building wealth, growing their families, and planning for long-term financial responsibility and legacy.
McCormick brings 30 years of financial services experience, with a background in lending, credit, retirement planning, and insurance, and has spent the past 16 years helping clients as a financial advisor. His approach is rooted in a belief that financial advice should be both highly personal and grounded in long-term relationships.
“At the center of our work is trust,” McCormick said. “When clients choose to work with us, they are placing confidence in the guidance we provide, and we take that responsibility seriously. Our role is to simplify complexity, provide meaningful insight and help clients make thoughtful decisions that align with what matters most to them.”
As a planning-first practice, McCormick Private Wealth is focused on understanding each client’s goals, concerns and vision for the future before developing tailored strategies to support them. The firm emphasizes clarity and relevance, helping clients navigate an increasingly complex financial landscape with confidence and purpose.
Why McCormick Private Wealth Chose LPL
After an extensive due diligence process, McCormick selected LPL for its combination of independence, integrated technology and institutional support.
“What stood out was the ability to combine a seamless technology experience with the flexibility to choose the solutions that best serve our clients,” McCormick said. “That efficiency allows us to spend more time focused on relationships and planning, while maintaining the independence of a boutique practice backed by the resources of an industry leader.”
LPL Chief Growth Officer Marc Cohen said, “We are pleased to support Wayne McCormick as he launches his independent practice with our Linsco model. His commitment to building trusted relationships and delivering thoughtful, planning-focused advice aligns with LPL’s purpose to support advisors with the technology, resources and flexibility they need to serve clients effectively. We look forward to supporting his continued success.”
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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 more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.3 trillion in brokerage and advisory assets on behalf of approximately 8 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.
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, 2025.
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