LPL Financial announced Ellsworth has also joined investment adviser, Stratos Wealth Partners, using LPL’s registered investment adviser (RIA) platform. Ellsworth supported approximately $200 million in fee- and commission-based client assets, as of January 2.
Working with the combined resources of LPL and Stratos, Ellsworth looks to continue developing its practice into a full-service independent advisory firm, offering a suite of private wealth management services. Ellsworth CEO Tim Clepper adds, “After two decades of combined experience at a wirehouse firm, we decided that now was the time to transition to an environment that provides us with the full flexibility and choices needed to help us best meet our clients’ needs, as well as to form strategic alliances to help us achieve our goals.”
Based in Hudson, Ohio, Ellsworth will primarily serve clients with a focus on high-net-worth individual investors, families, and small- to medium-size business owners. The firm delivers private wealth management, including fee-based investment management, financial and estate planning, 401(k) planning, and profit sharing and cash balance plans.
“We are excited to partner with Ellsworth Private Wealth management and support their move to independence,” says Jeffrey Concepcion, founder and CEO of Stratos. “More than ever before, investors are demanding unbiased advice and greater transparency in the management of their assets. At Stratos Wealth Partners, we bring the resources of a national firm to a local level to enable advisers to provide an objective, highly customized financial advice platform that consistently serves a broad spectrum of client needs.”
LPL Financial is a broker/dealer, RIA custodian, and wholly owned subsidiary of LPL Financial Holdings Inc.