Everett Ice, an advisor and founder of Cameron, Mo.-based Ice Capital Management, exited Wells Fargo Financial Network, where he managed $135 million, for LPL Financial. LPL made the announcement Monday.
Ice, who works with a range of clients from individuals to businesses to trusts and retirement plans, joined LPL’s broker/dealer, corporate RIA and custodial platforms.
“Our move to LPL will enable us to incorporate more fee-based financial planning into the practice,” Ice said in a statement.
Ice Capital Management is family-run business. Everett’s wife, Pam, is his business partner and joined LPL with him.
Ice, a former mayor and city councilman of Cameron, was with Wells Fargo Advisors for 12 years, 10 at Wells Fargo FiNet, Wells’ independent channel. Prior to that he worked for the broker/dealer A.G. Edwards & Sons for six years.
Wells Fargo advisor count proceeded to decline in the second quarter: it lost 10% of its force year over year and 3% from the previous quarter, according to the company's most recent earnings report.
LPL’s third quarter recruitment comes off a strong second quarter when it took in approximately 1,400 advisors, bringing advisor headcount to 19,114. The completed transaction of Waddell & Reeds broker/dealer brought on about 900 advisors; more than 200 advisors in that quarter came were onboarded from LPL’s M&T Bank partnership.