West Texas Investments joined LPL Financial, enhancing client services with over $170 million in assets under management.
Quiver AI Summary
LPL Financial LLC announced that financial advisors Stephanie Stewart, Debra Hedgcoth, CFP®, RICP®, and Madison Wentland, CPA, from West Texas Investments have joined their broker-dealer and advisory platforms, transitioning from B. Riley Wealth Advisors, Inc. The trio, based in Lubbock, Texas, brings approximately $170 million in assets under management and has over 40 years of combined experience in the industry. They emphasize a holistic approach to financial planning, focusing on understanding clients' individual goals and values. The team chose LPL to enhance their client services through advanced technology and support, noting a seamless transition process. Scott Posner from LPL expressed enthusiasm for supporting the advisors in their future endeavors.
Potential Positives
- LPL Financial has successfully attracted a new team of experienced financial advisors, which enhances its overall advisor network and service offerings.
- The addition of the West Texas Investments team, serving approximately $170 million in assets, significantly boosts LPL's assets under management.
- The press release highlights the West Texas Investments team's commitment to a personalized approach to financial planning, aligning with LPL's emphasis on client experience.
- Positive testimonials regarding the seamless transition process and support from LPL's team reflect the company's dedication to assisting advisors, which may encourage further recruitment of skilled advisors.
Potential Negatives
- Transitioning advisors from another firm may indicate previous dissatisfaction or instability within their former company.
- The mention of "best-in-class experience" may raise expectations that could lead to disappointment if not met.
- The press release lacks detailed financial metrics related to LPL's own performance or growth, which could be viewed as a negative sign in the context of advisor recruitment.
FAQ
What recent change occurred at LPL Financial?
Stephanie Stewart, Debra Hedgcoth, and Madison Wentland joined LPL Financial from B. Riley Wealth Advisors.
What is the total asset value managed by West Texas Investments?
West Texas Investments manages approximately $170 million in advisory, brokerage, and retirement plan assets.
How does the West Texas Investments team approach financial planning?
The team uses a 'Discover, Design and Deliver' approach to create personalized financial plans for clients.
What benefits do advisors find in joining LPL Financial?
Advisors benefit from streamlined technology, extensive back-office services, and improved client experiences.
Who are the key members of the West Texas Investments team?
The team includes Stephanie Stewart, Debra Hedgcoth, CFP®, RICP®, and Madison Wentland, CPA.
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 14 times in the past 6 months. Of those trades, 0 have been purchases and 14 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) has made 0 purchases and 2 sales selling 385 shares for an estimated $126,191.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$LPLA Hedge Fund Activity
We have seen 368 institutional investors add shares of $LPLA stock to their portfolio, and 326 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FIRST TRUST ADVISORS LP removed 981,006 shares (-99.0%) from their portfolio in Q4 2024, for an estimated $320,308,269
- PRINCIPAL FINANCIAL GROUP INC added 971,814 shares (+1453.3%) to their portfolio in Q1 2025, for an estimated $317,919,231
- JENNISON ASSOCIATES LLC added 851,115 shares (+786.2%) to their portfolio in Q1 2025, for an estimated $278,433,761
- BOSTON PARTNERS added 805,637 shares (+26.0%) to their portfolio in Q4 2024, for an estimated $263,048,536
- EGERTON CAPITAL (UK) LLP added 613,555 shares (+238.1%) to their portfolio in Q1 2025, for an estimated $200,718,382
- 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
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$LPLA Analyst Ratings
Wall Street analysts have issued reports on $LPLA in the last several months. We have seen 5 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Cowen & Co. issued a "Buy" rating on 01/31/2025
- Barclays issued a "Overweight" rating on 01/13/2025
- Citigroup issued a "Buy" rating on 01/10/2025
- UBS issued a "Buy" rating on 01/06/2025
- Wolfe Research issued a "Outperform" rating on 01/03/2025
To track analyst ratings and price targets for $LPLA, check out Quiver Quantitative's $LPLA forecast page.
Full Release
SAN DIEGO, May 07, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Stephanie Stewart, Debra Hedgcoth, CFP ® , RICP ® , and Madison Wentland, CPA, of West Texas Investments have joined LPL Financial’s broker-dealer, Registered Investment Advisor (RIA) and custodial platforms. They reported serving approximately $170 million in advisory, brokerage and retirement plan assets* and join LPL from B. Riley Wealth Advisors, Inc.
Based in Lubbock, Texas, Stewart founded West Texas Investments in 2012 with her late partner, David Barber. Hedgcoth joined the team in 2018 following a 25-year career with the IRS, and Wentland joined two years later in 2019. With more than 40 years of combined industry experience, the all-female team takes a holistic and team approach to helping clients work towards their fiscal goals.
“We understand that finances are a deeply personal topic, and we use a 'Discover, Design and Deliver' approach to help our clients pursue their financial goals,” Hedgcoth said. “First, we take the time to understand our clients’ dreams, goals and values. Then we work with them to design a financial plan with those in mind. After we share their customized plan, we work with them every step of the way, making changes as necessary, to help them work towards realizing their short- and long-term financial vision.”
Looking to enhance their offerings and provide an elevated client experience, the West Texas Investments team turned to LPL.
“I was taught that you design your own life, and part of that means working towards a future that aligns with your values and aspirations. Moving our business to LPL will help us achieve that goal,” Wentland said. “With LPL’s impressive integrated and streamlined technology and their extensive back-office services, like Marketing and Paraplanning Solutions, I am confident we will be able to provide our clients with a next-level customer experience.”
Stewart added, “Our transition to LPL has been seamless, and I have been impressed with the constant communication and step-by-step instructions we’ve received from our transition team as we move our accounts over and answer our clients’ questions. It’s been a best-in-class experience.”
Scott Posner, LPL Managing Director, Business Development, said, “We welcome Stephanie, Debra and Madison to LPL and look forward to helping them with this next chapter of their business. Just as the West Texas Investments team walks in lockstep with their clients to help them meet their goals, we are committed to helping our advisors differentiate themselves and enhance the client experience. We look forward to supporting the West Texas Investments team for years to come.”
Related
Advisors, learn how LPL Financial can help
take your business to the next level
.
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. West Texas Investments and LPL Financial 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.
Media Contact:
[email protected]
Tracking #734052
