LPL Gains $700M Advisor Team From Wedbush Securities Texas

LPL Financial has successfully recruited Skyward Financial, a Houston-based team managing approximately $700 million in client assets, from Wedbush Securities. The team is led by father-and-son duo Lynn and Matthew Houston, along with former MLB pitcher Ross Stripling, and primarily serves business owners, retirees, and professional athletes, with plans to expand into college athletes. The move was motivated by the need for enhanced technology platforms and tools that better meet the demands of younger clients, enabling the team to scale their offerings. Lynn Houston brings over 50 years of experience in the financial industry, having worked at multiple firms including Lehman Brothers and UBS, while Stripling began his brokerage career during his baseball off-seasons. This transition reflects LPL's ongoing efforts to attract established teams despite a challenging recruiting environment, also coinciding with its recent acquisition of Commonwealth Financial Network. The Skyward team considered other firms like Raymond James and Charles Schwab before choosing LPL for its technology and growth potential.