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LPL Adds $305 Million AUM Firm

LPL Adds $305 Million AUM Firm

LPL Financial announced Tuesday that Paradigm Wealth Management, a independent advisory firm with $305 million in assets under management, joined LPL’s hybrid broker/dealer and registered investment advisor platform.

Based in Bridgewater, N.J., the firm is known for its significant client base of professional athletes looking to preserve their wealth. Paradigm also specializes in retirement income planning for individuals in or near retirement.

David Geigerich and David Provinsal founded Paradigm in 2010 and the firm has since grown to a team of six advisors and five professional support staff. Paradigm serves mostly clients on the East Coast with a branch in Dublin, Penn., and a third branched in Fairfield, N.J., scheduled to open soon.

In a statement, Geigerich said Paradigm chose LPL for its open-architecture platform and access to integrated technology. Geigerich added that his firm “felt that LPL understood our distinct business model and how we envision building our business for the future.”

Paradigm’s management added that current industry conditions – including new regulatory rules and the aging advisory workforce – makes the hybrid RIA arena an attractive place for acquisition, a primary mode of growth for Paradigm. Craig Kamis, LPL’s senior vice president of institutional recruiting, said firms like LPL are well positioned to help firms like Paradigm seize those opportunities. 

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