LPL Financial has welcomed four wealth management practices reporting approximately $2.035 billion in combined client assets, expanding its advisor network through affiliations announced over the last couple of days. SteadRock Private Wealth, FHT Advisors, Impel Wealth Management and Sound Foundation Wealth Advisors joined LPL’s broker-dealer and Registered Investment Advisor platforms. The reported assets include advisory, brokerage and retirement plan assets.
SteadRock Private Wealth
Nathan J. “Nate” Hershman joined LPL from Edward Jones to launch SteadRock Private Wealth in North Canton, Ohio. He reported serving approximately $185 million in advisory, brokerage and retirement plan assets.
SteadRock serves families, individuals approaching or living in retirement, and business owners, including those in manufacturing. Its planning approach connects investments and retirement needs with business interests, charitable priorities and financial legacies.
For business owners, planning can include preparing for a transition and evaluating how a sale or succession could affect retirement and family objectives. Hershman selected LPL to establish an independent practice with access to its technology, investment platform and business support.
FHT Advisors
FHT Advisors joined LPL from Cetera alongside Impel Wealth Management. The two Ohio-based practices reported approximately $1.15 billion in combined client assets and will retain their separate identities.
Led by Brian Toma, FHT serves clients across 32 states, including professionals, medical professionals, younger families, people approaching retirement and retirees.
The firm operates as an ensemble practice, bringing multiple advisors’ experience and planning perspectives to client relationships. Its advisory team includes Sarah Stewart, Tom Drager, Tammy Hafner, Bruce Baker, Bear Rupert, Jonathan Goldston, Seann Schaller and financial consultant Stephen Ehrhardt.
FHT identified LPL’s technology, planning capabilities and resources as factors supporting its next stage of development.
Impel Wealth Management
Jesse Hurst leads Impel Wealth Management, which began by serving corporate executives around Akron and has expanded into multigenerational wealth management.
Hurst works alongside advisors Nathan Ollish and Irene Zurowski. Ollish serves many next-generation clients, while Zurowski’s focus includes retirement plans and female executives.
Impel works with dozens of families across at least two generations and more than a dozen across three generations. The team also produces market and financial planning commentary through recurring blog posts and videos.
Hurst and FHT’s Toma have worked alongside one another for 25 years, exchanging ideas and best practices while independently leading their firms. Impel selected LPL for its technology, advanced planning resources and growth opportunities.
Sound Foundation Wealth Advisors
Sound Foundation Wealth Advisors joined from Cambridge Investment Research Advisors, reporting approximately $700 million in advisory, brokerage and retirement plan assets.
Founded by Nathan Downs and Cory Thomas, the Boise, Idaho-headquartered practice traces its beginnings to 2018. It has developed shared operations and business processes to support a nationwide advisory team.
Its advisors also include Seth Church, Cameron Church, Caleb Whalen, Kason Wedel, Dustin Olson and Cory McLeaf.
Sound Foundation serves clients including technology, healthcare and higher education professionals, as well as business owners. Its planning process starts with each household’s income, expenses, assets and objectives before developing individualized recommendations.
The founders cited LPL’s investment in technology and systems, along with its ability to support the practice’s evolving needs, as reasons for joining.
LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions. It services and custodies approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans.
KEY QUOTES:
“Behind a financial plan is a person, a family and a set of decisions that matter to them. I want to understand what clients are working toward, what concerns them and what they want their wealth to support before we begin discussing strategies.”
“A useful advisory relationship needs room for honest conversations. Sometimes that means talking through a difficult decision or looking more closely at an assumption. My role is to listen, explain the considerations clearly and help clients think about how a decision fits into the larger picture.”
“Building SteadRock gives me the opportunity to put my approach into practice under my distinctive brand that reflects my values. LPL provides resources to support that work while I focus on developing relationships and helping clients navigate the decisions ahead.”
Nathan J. “Nate” Hershman, Founder Of SteadRock Private Wealth
“Nate has built SteadRock Private Wealth around a clear commitment to understanding what matters most to each client and helping them make thoughtful financial decisions. We’re excited to welcome Nate to LPL and support his vision for an independent practice grounded in personal relationships, candid conversations and comprehensive planning. We look forward to helping him build on that strong foundation and grow SteadRock for years to come.”
“Brian and Jesse have each built highly collaborative practices centered on thoughtful planning, strong relationships and a genuine commitment to helping clients and colleagues succeed. Their 25-year professional relationship and shared belief in exchanging ideas reflect the kind of community we strive to foster at LPL. We are proud to welcome FHT Advisors and Impel Wealth Management and look forward to supporting each firm with the technology, capabilities and growth resources to build on its distinct strengths and deliver an even stronger experience for clients.”
Ken Hullings, Head Of Advisor Recruiting And Executive Vice President Of Business Development At LPL Financial
“We do deep and meaningful work for our clients, and this is a new and exciting chapter for our team. We’ve intentionally built FHT as an ensemble because we believe clients benefit when multiple advisors are thinking about their financial lives. LPL gives us access to the technology, resources and capabilities to build on that approach and continue elevating the client experience.”
“For us, the decision also came back to the client experience. We want clients to have access to strong technology, thoughtful planning capabilities and the resources needed to manage and support their financial lives. We believe LPL provides a platform that can help us continue doing meaningful work for clients while positioning our team for the future.”
Brian Toma, Leader Of FHT Advisors
“We have been blessed with an amazing team that works collaboratively, and when someone engages Impel, they get our entire firm. We also believe strongly in sharing ideas with our peers. That abundance mentality makes all of us better advisors and helps us build stronger practices for the clients and families we serve.”
“The leadership alignment around growth and the opportunities ahead were unique and refreshing. LPL brings together technology, planning resources and services that can help us support complex client needs while giving us more opportunities to grow. We came away from the San Diego office visit excited about what we can accomplish in this next chapter.”
Jesse Hurst, Leader Of Impel Wealth Management
“Our goal is to help give clients clarity about where they are today and where they want to be in five, 10 or 20 years. That starts by understanding each client’s entire financial picture and building a plan specifically around that person or family. We don’t believe in starting with a model and asking the client to fit into it. We want the planning, investments and ongoing guidance to reflect their individual goals and circumstances.”
“We saw a company that is taking its investment in the advisor experience seriously and is continually looking at how it can improve. For a growing firm like ours, having technology and systems that can help us optimize our business and client experience is extremely important. We also wanted confidence that our partner could adapt alongside us over the long term, and we believe LPL is well positioned to do that.”
Nathan Downs, Co-Founder Of Sound Foundation Wealth Advisors
“We were impressed by LPL’s understanding of how the broker-dealer landscape is evolving and how its positioning itself for that future. That gave us confidence that as our own business continues to grow and change, we’ll have a partner with the scale and commitment to keep investing alongside us.”
Cory Thomas, Co-Founder Of Sound Foundation Wealth Advisors
“We’re thrilled to welcome Nathan, Cory, and the Sound Foundation team to LPL. What they’ve built reflects a real commitment to both their advisors and the clients they serve, creating the support and structure for advisors to grow while keeping the client relationship personal. We look forward to providing the resources and capabilities to help them build on that success and continue growing for years to come.”
Marc Cohen, Chief Growth Officer At LPL Financial
