LPL Financial announced that the advisory team at Oak Bridge Financial, LLC has joined its broker-dealer and registered investment advisor (RIA) platform, bringing approximately $230 million in advisory, brokerage, and retirement-plan assets and transitioning from Ameriprise.
Oak Bridge is based in Houston and is led by Peter Goudeau Jr. and Larry Boyd, who founded the firm in 2007 and have a combined 45 years of industry experience. The firm serves high-net-worth professionals across multiple markets, including Houston, Washington, D.C., Atlanta and Seattle, with a client roster that includes physicians, attorneys, Olympic athletes, entrepreneurs and business owners.
The Oak Bridge team said it was drawn to LPL after a due diligence process centered on operational flexibility and technology. The advisors cited the ability to retain ownership of client relationships and data, and to run the practice with greater autonomy, as key factors in the move. Oak Bridge’s roster also includes Pete Goudeau III, Andrew Brereton, Jeffrey Keown and Kingsley Davis.
Oak Bridge also emphasized its internal investment approach, saying the firm builds and manages portfolios in-house, including research, modeling and trading. The group added that its advisors’ varied professional backgrounds—from real estate and computer science to banking and engineering—help broaden perspective when developing strategies for clients.
LPL Financial supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, and services and custodies approximately $2.3 trillion in brokerage and advisory assets for roughly 8 million Americans.
KEY QUOTES:
“Our clients benefit from advisors with varied expertise, which helps us deliver an end-to-end client experience and collaborate effectively. We have built out an impressive, comprehensive ‘A to Z’ experience for our clients and to use each other as sounding boards. Unlike most firms in the industry, we build and manage portfolios ourselves, handling all research, modeling and trading.”
“We wanted autonomy to run our business the way we see fit. Our clients rely on us for immediate, transparent access to their information. LPL provides the robust infrastructure and open-architecture technology tools we need to provide a superior, data-drive client experience while maintaining our firm’s independence and diverse culture.”
Peter Goudeau Jr., Co-Founder, Oak Bridge Financial
“We welcome Peter and Larry to LPL and congratulate them on this next chapter of their business. 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 Oak Bridge Financial for years to come.”
Scott Posner, Managing Director of Business Development, LPL Financial
