LPL Financial announced that financial advisor Clayton Ortloff has launched a new independent practice called Heritage Private Wealth through affiliation with LPL Financial’s supported independence model LPL Strategic Wealth Services. And he reported having served about $800 million in advisory, brokerage and retirement plan assets and joins LPL from Merrill Lynch.
Based out of Midland, Texas, the father of three is a third-generation Midlander with a strong connection to the community. Ortloff started his career in financial services in 2006, right out of college, and steadily built his business serving high-net-worth multigenerational families in oil and gas. And he specializes in providing personalized wealth management services that range from diversification strategies and concentrated stock positions to legacy planning and charitable giving. A dedicated team supports him, including the director of client relations, Gloria Folsom, and wealth manager assistants, Allison Gordon and Rachael Sawyer.
Ortloff decided 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. With 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 when launching their practice.
After this transition is completed, 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.
The Heritage team will also have access to components of LPL’s Private Wealth experience, which offers HNW resources and customized solutions to support more complex situations like advanced estate and philanthropy planning, income tax strategy, trustee services, a robust alternative investment platform, banking and lending solutions and complex life insurance planning.
KEY QUOTES:
“I’ve always enjoyed building long-term relationships with my clients and helping them navigate the complexities of today’s financial landscape. I care about each client and have always aspired to go the extra mile to take care of their financial needs.”
“I wanted to own my practice and offer more services to my clients, without corporate influence. I was drawn to LPL’s commitment to independence and the freedom to run my practice on my terms, which is especially important given the conservative nature of my clients. It’s important for my team to create a practice that feels like a family focused office where we can provide tailored resources and more high-touch experiences for clients.”
“The added layer of support from the LPL Financial Strategic Wealth Services team is invaluable. My clients will always be my top priority, and this move will enable me to continue delivering a high level of service, while also being an entrepreneur and independent business owner.”
- Clayton Ortloff
“We welcome Clayton and his team to LPL. Clayton’s dedication to his clients and deep roots in the community make him a wonderful addition to our network. We are committed to supporting advisors with innovative technology and strategic business solutions that add value to their practice and create differentiated experiences for clients. We look forward to supporting the Heritage team for years to come as they deliver personalized advice to the Midlands and beyond.”
- Scott Posner, LPL Executive Vice President, Business Development
