LPL Adds Ex-BofA Advisor in Texas
Alberto Francis, a former tennis player, has joined its high-net-worth-focused employee affiliation model in Houston.
LPL Financial says that financial advisor Alberto Francis has joined its high-net-worth-focused employee affiliation model from Bank of America Private Bank, where he worked with about $725 million in assets. Francis now plans to launch Rockview Private Wealth in Houston with LPL Private Wealth Management.
This news comes about two months after LPL recruited its first advisors to the new HNW channel — which was launched in November — in Oklahoma City: Alain Verhille and James S. Wood , formerly with Merrill Lynch, where they worked with roughly $705 million of assets. Their team includes Erikka Moore and Kathy Isernhagen.
Texas-based Francis focuses his practice on business owners, executives and athletes, as well as medical and legal professionals. Earlier, Francis was an NCAA champion and All-American tennis player for UCLA. He spent three years on tour as a professional player — including an appearance at Wimbledon before attending Stanford for an MBA.
The advisor, who is the son of Irish and Mexican immigrants, started his career in financial services in 2011. He was with JPMorgan for a year, moved to LPL for 11 months and later worked for BofA from mid-2018 to July 30, according to FINRA Brokercheck.
“I’ve had an entrepreneurial mindset for a long time and am excited to finally have my own practice where I can prioritize client relationships and truly put their interests first,” Francis said in a statement.
“The ability to craft dynamic, client-focused strategies without the limitations of proprietary products means I can focus on what’s best for my clients and their futures,” he added.
LPL Private Wealth, which the firm calls its “independent employee affiliation model,” gives HNW-focused advisors access to estate and philanthropic planning, income tax strategies, trustee services, alternative investments platform, banking and lending solutions, life insurance planning and third-party specialists.
The independent broker-dealer’s advisor headcount was 23,462 as of June 30— up 1,520 from a year ago and 578 from the first quarter of 2024. Its total advisory and brokerage assets were $1.5 trillion.