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LPL Financial says a pair of advisors have joined his network since Morgan Stanleywhere they had approximately $380 million in client assets.
Chad Keeler and Brock Rouch have launched a new independent firm, Platte River Private Heritage. They are joined by Bonnie Longwho provides administrative support.
The Casper, Wyoming-based practice has partnered with LPL’s Strategic Wealth Management Services, a platform designed to support independent advisors. The firm’s name pays homage to the regional topography and the historic landmark of the Platte River, which runs through downtown Casper, according to LPL.
The pair’s clients are typically wealthy retirees, executives, small business owners and families and individuals who have built on their savings accounts, LPL says.
They decided to become independent because they wanted more control and the freedom to run their business on their own terms, according to LPL.
“With LPL, we truly believe that we operate with the best interests of our clients in mind. We are passionate about building a practice where we are truly in control of customer service and engagement, and we are excited to grow our business alongside our community,” Keeler said in a statement about the move.
“We appreciate that LPL has the compliance, technology, investment options and resources to enable us to manage the root of our business, coupled with the creative freedom that we believe will provide customers with a more richer than ever,” he added.
LPL’s strategic wealth management services also attracted the pair.
“We believe that when our business is able to tap into the bundled package of an elite LPL team, we can fully focus our energies and time on serving our customers while limiting the details of starting a small business that a typical entrepreneur has suffered,” Rouch said in a statement.
Keeler and Rouch, managing partners at the firm, are brothers-in-law who married sisters within months of each other, according to LPL. They are both graduates of Colorado State University then followed different career paths on their way to independence, says LPL.
Keeler started in the industry in 2008, when he registered with Wells Fargo Advisors then moved to Morgan Stanley, where it was registered until earlier this month, according to its BrokerCheck filing.
Rouch started in the industry in 2015 and had been registered with Morgan Stanley all the time until earlier this year, according to his BrokerCheck filing. Rouch previously worked as a project manager in the oil industry, but has always been interested in investing, according to LPL.
“We really take a team approach and love the adage that ‘if you talk to one of us, you talk to the other,'” Rouch said in a statement. “We each have our individual strengths, such as financial planning, portfolio construction, discretionary investment management and in-depth knowledge of complex financial products, but we can cross these lines and help clients where needed. “
LPL’s strategic heritage services allows advisors to access company information integrated wealth management platform and resources. It also offers ongoing, personalized support for day-to-day operations and long-term business management, according to LPL.
Advisors receive transition support to ensure the transition to independence, including dedicated services to launch their practice, such as building construction, brand development, technology setup and support for human resources, explains LPL. Once the transition is complete, advisors receive ongoing strategy, administrative, marketing and CFO support, adds LPL.