LPL Financial scoops up three Wells Fargo Advisors teams who are partnering up in Charlotte, North Carolina, to create a single $1.45 billion practice. The three teams, which generated $10.5 million in revenue at Wells, moved on March 2 and joined LPL’s Strategic Wealth Services channel, which launched almost three years ago and is aimed at attracting teams from full-service firms. The new practice, Carnegie Private Wealth, is led by Angie Ostendarp, Jordan Raniszeski, and Mary Sherrill Ware, whose team at Wells had $1.1 billion in assets. Ostendarp started her career at Wells’ Wachovia predecessor in 1994. Raniszeski spent all 16 years of his career at Wells, aside from a short stint at Deloitte & Touche Investment Advisors in 2004. Ware was at Wells for her whole 16-year career. Mitch Mayfield, who has nearly 30 years of experience, all at Wells and its predecessors, is partnering with Ostendarp’s team. He had known Ostendarp from the training program at Wachovia. Jeff Vandiver, who has been friends with the other advisors for 20 years and has thirty years of experience, rounds out the new practice. He started his career at Wells predecessor First Union Brokerage Services in 1993. Raniszeski said the following in a statement, “The opportunity to create our own firm at LPL with a culture that prioritizes clients’ needs and interests above everything else just felt like the right way forward.”

Finsum:LPL recruited three separate Wells Fargo teams, who are joining together to form a new combined practice at LPL as they believe its culture prioritizes clients’ needs and interests above everything else.