LPL Financial announced that financial advisors Tim Woodall and Dustin Raring launched a new independent practice called Highway One Capital, through affiliation with LPL Financial’s supported independence model LPL Strategic Wealth Services. The team reported having served approximately $500 million in advisory, brokerage, and retirement plan assets and joins LPL from First Republic, now part of JPMorgan Chase.
Based out of Newport Beach, California, Woodall and Raring are longtime best friends with over 55 years of industry experience collectively. And they partnered in 2012 to combine their strengths for the benefit of their clients, with each advisor bringing different skillsets and viewpoints to the business. With client support from Taylor Ford, the team primarily serves business owners and high-net-worth multigenerational families.
The new brand is inspired by California’s iconic Highway One that connects generations through road trips, natural beauty and a can-do spirit. And it also reflects the team’s personal approach to life, family and wealth management.
The team chose to affiliate via LPL’s comprehensive supported independence solution LPL Strategic Wealth Services (SW), which combines the freedom and flexibility of entrepreneurship with hands-on business services and support to help practices thrive, operationally and strategically. Along with having access to LPL’s innovative wealth management platform and sophisticated resources, SW advisors benefit from a truly integrated service that includes simplified pricing, technology and dedicated support to launch their practice.
After the transition is complete, SW teams receive ongoing operations support managed by their team of experienced professionals, including a business strategist, marketing partner, CFO, and administrative assistant. Advisors have one point of contact, a dedicated team, and priority access to advocacy and project management for complex business issues, ultimately allowing them to stay focused on the enduring needs of their clients and the culture and evolution of their practice.
KEY QUOTES:
“In a world that’s shifted to model portfolios and simplified offerings, we truly spend a lot of time, energy, and effort customizing strategies for each individual client or family. We enjoy getting to know what clients want to do with their finances and how their wealth can help drive their goals and ambitions. We keep our focus on the important things along that journey: family, community, connectivity and a sense of purpose to keep clients moving forward.”
- Tim Woodall
“This decision to move to LPL was driven by our desire to have full control in how we build our business and serve clients. We can now leverage the strength of a major firm that offers integrated technology, strategic business resources and wide selection of investment choices, which enables us to deliver highly personalized wealth management options and exceptional service experiences.”
“We want to be independent, but we also appreciate the blend of service and support that is provided by LPL Strategic Wealth Services. We are fully supported by a dedicated team that upholds our high standards, and we look forward to building a culture where we can prioritize our clients’ best interests in their pursuit of financial success.”
- Dustin Raring
“We extend a warm welcome to Tim, Dustin and Taylor and congratulate them on the launch of Highway One Capital. As they build their ideal practice, LPL is here to support them throughout their entire journey as independent advisors. We are committed to delivering sophisticated resources, innovative capabilities and strategic business solutions designed to help them build value with clients and win in the markets they serve.”
- Scott Posner, LPL Executive Vice President, Business Development
