Larry Boggs, a Cumberland, Md.–based advisor with $1.3 billion under management, has left Wells Fargo Advisors after more than 40 years to join LPL Financial under the independent broker/dealer’s Strategic Wealth Services, its premium affiliation model for advisors leaving wirehouses and regional firms.
Boggs’ new firm will operate as Boggs & Company Wealth Management. The 13-member firm includes Boggs’ three daughters, Mirjhana Buck, Dagenais Boggs and Koosie Boggs, who serve as financial advisors. They’re also joined by advisors Brian Kelly, Patsy Stullenbarger, Steven Stroup and Cady Rankin, and support staff members Molly Beeman, Christina Crites, Michelle Lucas, Brenda Mulligan and Janet Shroyer.
Boggs said he interviewed more than 15 other firms before choosing LPL.
“[LPL] gives us the ability to better accommodate our clients’ needs and incorporate additional elements of financial planning into our firm,” he said in a statement. “We have three CFPs on the team who have not been able to leverage their full potential. With the move to LPL, they will have the chance to take their skillsets to the next level and grow with the team, ultimately better serving our clients.”
LPL went live with its Strategic Wealth Services affiliation model about a year ago; it’s aimed at taking some of the more entrepreneurial tasks involved in starting and running a practice off advisors’ shoulders, including real estate, technology, marketing, business expenses and administrative tasks. The program is meant for advisors who manage more than $200 million in assets.