A five-person financial advisory team has joined LPL Financial from U.S. Bank, where they oversaw $2.4 billion in client assets. The team, which goes by HighWater Wealth and is based in San Diego, joined LPL's brokerage and registered investment advisory channel.
While independent, HighWater Wealth organized under Quotient Advisor Partners, an LPL office of supervisory jurisdiction that helps support advisory teams setting out on their own. U.S. Bank didn't immediately respond to a request for comment on the departure.
Mike Rookus, HighWater's president and founding partner, says that his practice is planning-oriented with a focus on the whole of a client's financial situation, including aspects outside of investing that LPL and Quotient's resources can support.
"We built HighWater Wealth to deliver a highly personalized, planning-led experience for our clients," he says. "Our approach is centered on understanding the full financial picture -- from trust and estate considerations to cash flow and long-term objectives -- so we can design strategies that are tailored to each family's needs."
In addition to Rookus, the team includes Kristian Forster, Falko Hörnicke, Tim Davidson, and Brian Rissman. The team joined LPL in April, according to registration records, but LPL announced the move on Tuesday.
Forster says the move to LPL will further his practice's work with multigenerational clients, citing the flexibility and infrastructure of the LPL and Quotient platform. "The platform's open architecture, research capabilities, and scale -- along with the ability to move quickly -- allow us to provide a high-touch, 'white-glove' experience," he says.
Quotient CEO Ray Lucia says that his firm serves breakaway teams looking to go independent, advising them on the transition and providing a menu of investments, research, and other resources.
"For 25 years, I've been on almost every side of this industry, and what I've learned is that most advisors stay inside large institutions not because they're satisfied, but because going independent feels too risky, " Lucia says. "Everything we do at Quotient exists to change that."
Another LPL recruit. Separately, LPL on Wednesday announced that Buell Wealth Management, a $370 million practice based in Glastonbury, Conn., has joined its broker-dealer and RIA platform.
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
July 15, 2026 16:03 ET (20:03 GMT)
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