Five financial advisors left Wells Fargo Advisors and teamed up to launch Carnegie Private Wealth, a new independent practice, through an affiliation with LPL Strategic Wealth Services.
Combined, the advisor team served $1.45 billion in advisory, brokerage and retirement plan assets while with Wells Fargo, LPL said Monday, noting the amount makes it the largest team by assets to join LPL Strategic Wealth Services.
Charlotte, North Carolina-based Carnegie is the 29th team to join LPL Strategic Wealth Services since it launched in April 2020, and the second within a week, following Maher Wealth Management, a Phoenix, Arizona-based advisor team serving about $440 million in client assets, who left Merrill Lynch.
Carnegie was founded by certified financial planners Angie Ostendarp, Jordan Raniszeski and Mary Sherrill Ware. The core group also includes seven client services support members.
They have been joined by longtime colleagues Mitch Mayfield and Jeff Vandiver, each of whom has more than 30 years of industry experience and previously ran individual practices.
