Ariz. Advisor With $300M In Assets Leaves Stifel For LPL

Nate Carlon, a Scottsdale, Ariz.-based financial advisor overseeing his own namesake firm, Carlon Wealth Advisors, has joined LPL Financial’s broker-dealer, RIA and custodial platforms, LPL announced today. Carlon was previously with Stifel Financial.

Carlon oversees $300 million in advisory, brokerage and retirement plan assets, LPL said. His team also includes Lora McLaughlin, the firm’s client services manager, and Jono Carlon, a wealth operations analyst (and Nate Carlon’s brother).

According to Carlon’s BrokerCheck profile, he had been with Stifel for seven years since 2015. Before that he had logged tenure with AXA Advisors and Chase Investment Services, as well as American Funds Distributors.

LPL’s statement said Carlon “started his career in banking and then serving as a fixed-income specialist before he built his wealth management practice over the past 15 years.

“He uses knowledge from past professional experiences to deliver personalized financial advice and investment strategies designed to help each client work toward their financial goals.”

In a prepared statement, Carlon said, “We want to elevate the client experience by incorporating robust technology and unique communication efforts to strengthen bonds, better educate the client and better manage goals and expectations. … We felt LPL provides the best flexibility and resources to help our clients navigate change. We were especially drawn to LPL’s focus on driving advisor success, which in turn drives success for the clients. Additionally, LPL’s integrated platform gives us the greatest amount of flexibility to build out our firm in a manner that we feel best suits our clients.”

In its quarterly earnings call last week, LPL said it had inked in a record advisor count at 21,521, up 246 from the previous quarter and 1,430 more than last year. The company also said its total advisory and brokerage assets increased 1% year over year to $1.18 trillion, and that it had recruited $13 billion in assets in the first quarter.

The company said in today’s statement that it supports advisors at approximately 1,100 enterprises and at approximately 500 RIA firms nationwide.

The company is ranked No. 1 among broker-dealers by gross revenue, in Financial Advisor’s 2023 “Independent Broker-Dealer Ranking.”

Earlier this week, LPL’s head of strategy Rich Steinmeier told Financial Advisor that the company is continuing to roll out services for advisors to help them run their business and that these services are helping the company build word of mouth among advisors. That includes a new service in which LPL will directly take over partial books of business and a new paraplanning service rolled out last year. On top of that there will be a tax planning component that will move out of pilot into broad deployment this year.

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