LPL Financial Adds Skyward Financial with $700M Assets

LPL Financial has expanded its broker-dealer and Registered Investment Advisor platform by welcoming Skyward Financial, a Houston-based advisory firm managing around $700 million in assets, which transitioned from Wedbush Securities. Led by Matthew Houston, Lynn Houston, and Ross Stripling, Skyward's six advisors bring over 200 years of combined experience and serve clients including business owners, retirees, and Major League Baseball players, with plans to extend services to college athletes. The primary motivation for Skyward Financial's move to LPL was to access a more robust technology platform and enhanced service capabilities that better meet the needs of their younger clients, while maintaining their independence and branding. LPL Financial offers tools and resources comparable to a Wall Street firm, aiming to provide an elevated client experience through innovative technology and integrated platforms. This strategic acquisition strengthens LPL's asset management capabilities and aligns with industry trends emphasizing technology to improve client retention and acquisition. LPL Financial currently supports over 29,000 advisors managing nearly $1.9 trillion in assets, underscoring its significant position in the financial advisory sector.