A family team led by Lou Pelliccioni has left Wells Fargo Advisors, where it managed $200 million in client assets, for independence with LPL Financial.
The Naples, Fla.-based team, which will go by Trilith Wealth Management, includes Pelliccioni's son Brice and his daughter-in-law Amanda. The family-owned firm will be part of LPL’s broker/dealer and its corporate registered investment advisor through the Independent Network of Consultants & Advisors (INC Advisors).
“After 35 years, it became clear to me that independence was the right choice for our business, and more importantly for our clients,” Pelliccioni said. “Entrepreneurship has always been extremely important to me, and the independent model brings us back to a place where the decisions impacting our business are being made locally, with the clients’ interests as the main driver. LPL’s fully integrated platform allows us to solve for a wider range of client needs, thanks to its innovative technology coupled with the ability to customize to each client’s unique goals.”
Amanda, Brice and Lou Pelliccioni
Brice said the family team is beginning its time with LPL with the end in mind, referring to the ever-evolving landscape of wealth management that no longer solely relies on investment advice.
“We want to implement a multi-professional approach to include everything from property casualty insurance to tax planning to specialized retirement planning,” he said.
Trilith plans to expand further into the Florida market and is looking to create more of a presence in West Virginia.
“We extend a warm welcome to Lou, Brice and Amanda, and we congratulate INC Advisors on the growth of their support model,” said Rich Steinmeier, LPL Financial managing director and divisional president of business development.