Home / Business and Economy / JPMorgan Advisor Defects to LPL, Bringing $725M
JPMorgan Advisor Defects to LPL, Bringing $725M
20 Jun
Summary
- Advisor Alan Feutz moved $725 million in assets to LPL.
- Feutz joins LPL's non-OSJ branch, Genesis Wealth.
- Genesis Wealth targets bank-based advisors for growth.
Alan Feutz, an advisor with approximately 25 years of experience and managing $725 million in client assets, has transitioned from JPMorgan Securities to LPL Financial. He will operate out of a new branch office in Deerfield, Illinois, established by Genesis Wealth. This move aligns with Genesis Wealth's strategic initiative to recruit advisors transitioning from banking institutions.
Feutz, who previously held roles at Northern Trust and American Express, joins Genesis Wealth's expanding presence on Chicago's North Shore. The firm recently celebrated surpassing $3 billion in client assets, attributing its success to a model that supports advisor transitions. Genesis Wealth, founded in July 2024, focuses on attracting breakaway advisors from banks and non-Broker Protocol situations.
This recruitment follows LPL Financial's recent additions, including an eight-advisor team in Dallas managing $1.5 billion and a Central Florida team with $1 billion in assets. These moves highlight LPL's continued expansion and its appeal to established advisors seeking new platforms.
