LPL Financial added a newly launched Wisconsin-based advisor group with $225 million in client assets to its hybrid RIA platform on Wednesday.
Led by Kurt Rozman, the new Freedom Wealth Alliance has a team of five financial advisors that grew out of the former Rozman Wealth Management, which was formerly affiliated with Wells Fargo Advisors Financial Network.
A 23-year industry veteran, Rozman will serve as president of the new firm, focusing on managing the alliance and implementing its proprietary portfolio management strategy.
Freedom Wealth Alliance aims to bring onboard “overlooked,” smaller independent advisors managing about $50 million in client assets and interested in operating as both fee and commission-based businesses. Advisors joining the group also will have access to a highly customizable, centralized portfolio management strategy.
“Our intention is to provide smaller independent advisor practices with all the resources and capabilities of much larger firms, while enabling them to provide their clients with the same high quality, customized personal service that was common in previous generations,” Rozman said in a statement Wednesday. “Such service will be made possible today by the efficiency and scalability of LPL’s modern technology and systems.”
“In choosing LPL, we were extremely impressed by their open architecture infrastructure, their enabling mobile technology solutions and most importantly, their portfolio management tools, all of which we believe are of the highest quality available in the marketplace today and which will allow us to optimize our customer relationship and workflow management processes,” he added.
Advisors looking to join Freedom Wealth Alliance will be able choose between keeping their own independent branding and practice or to become independent advisor representatives of Freedom Wealth.
Rozman says the firm is already planning to expand its operations into several new locations, including Wake Forest, Ill.; Tampa, Naples and Sarasota, Fla.; and locations in Texas and Arizona.
“We are proud that LPL continues to be the destination of choice for independent advisor groups seeking to realize their entrepreneurial vision, and we are happy to be instrumental in empowering their advisors to pursue their independent paths in the service of helping their clients work toward their financial goals,” Steve Pirigyi, executive vice president at LPL Financial, said in a statement welcoming the group.
Updated 10:46 a.m. An earlier version of this article incorrectly spelled Kurt Rozman. We regret the error.