LPL Financial announced financial advisors Spencer W. Rand, CFP and Michael J. Williams, CFP of Rand, Williams & Associates have joined the firm’s broker-dealer and Registered Investment Advisor (RIA) platform, bringing approximately $260 million in advisory, brokerage, and retirement plan assets. The advisors, based in Monterey on California’s Central Coast, previously affiliated with Osaic.
Rand and Williams each have more than two decades of industry experience and have been partners since 2012. The practice traces its roots back about 40 years, when it was founded by Rand’s father, William Rand, initially serving educators, nonprofits, and airline industry professionals before expanding to multi-generational, high-net-worth families. Williams spent more than a decade in the technology sector prior to becoming a financial advisor, while Rand is a second-generation advisor. The team also includes associate Holly Hidaka.
In announcing the move, the advisors pointed to a desire for greater flexibility and technology resources to support clients and streamline day-to-day operations. Williams said the team considered multiple options and ultimately decided LPL offered an efficient organization with an emphasis on process improvement and investments in technology, compliance, and security. Rand said the transition aligns with the firm’s longer-term objective of spending more time with clients.
Scott Posner, LPL managing director of business development, said the firm will support the team with technology and business solutions designed to help advisors differentiate their practices and enhance client value.
LPL Financial Holdings supports more than 32,000 financial advisors and the wealth management practices of roughly 1,100 financial institutions, with approximately $2.3 trillion in brokerage and advisory assets serviced and custodied on behalf of about 8 million Americans. LPL noted the asset figure for Rand, Williams & Associates is an approximation based on details provided to LPL as of year-end 2024.
KEY QUOTES:
“We take the time to understand each client’s perspective on money — their values, frustrations, and how their beliefs around finances originated. Our goal is to help clients connect with their money in a way that makes them feel confident and empowered. We listen empathetically to their needs, wants, and wishes, and then collaborate to create a game plan that helps them pursue their goals.” “We wanted to make a long-term change. Our goal is to spend more time with clients, and we believe LPL’s improvements will help us do just that.”
Spencer W. Rand, CFP, Financial Advisor, Rand, Williams & Associates, LLC
“We believe in maximizing each team member’s unique skill sets and strengths, and we share all of our clients, so everyone benefits from our collective expertise. Some clients naturally gravitate toward one of us, but many appreciate meeting with both. Our open dialogue helps us navigate toward the best outcomes for our clients.” “When considering a change, LPL and Commonwealth were our top contenders. When they came together, we realized we would be making a good decision by moving to LPL. We saw that LPL is an efficient organization that streamlines processes, invests in advisor feedback, and prioritizes technology, compliance and security. Their thoughtful approach to technology and the interface gives us the tools we need to serve our clients better.”
Michael J. Williams, CFP, Financial Advisor, Rand, Williams & Associates, LLC
“I’d like to extend a warm welcome to Rand, Williams & Associates, LLC. As a leading wealth management firm, LPL is committed to delivering innovative technology and comprehensive business solutions to help advisors differentiate their practices and increase value for their clients. We look forward to supporting the team as they start this new chapter of their business.”
Scott Posner, Managing Director of Business Development, LPL Financial
