Carnegie Private Wealth, a more than $1 billion RIA that is part of LPL Financial’s supported independence channel, has hired four new advisors about two years after the founders left Wells Fargo Advisors in March 2023.
Financial advisor James Larsen has joined Carnegie, which is part of LPL Strategic Wealth, after more than 23 years with Wells Fargo. The Edward Jones departees include Seth Miller, who had been with the broker/dealer for more than 13 years, Kevin Lewis, who had been with the broker/dealer for more than 10 years, and Lucas Decker, an Edward Jones advisor for more than nine years
According to LPL’s announcement, Charlotte, N.C.-based Carnegie leveraged its business strategists, marketing and CFO partner to help identify and bring over the four advisors.
Larson, also based in Charlotte, said in a statement that he had relationships with the Carnegie teams for years and chose to join the firm partly to “help ensure business continuity.”
“Their advanced planning resources and genuine focus on building generational relationships puts me in position to enhance my clients’ lives moving forward,” he said.
Carnegie was founded by former Wells Fargo Advisors Angie Ostendarp, Jordan Raniszeski and Mary Sherrill Ware. Wealth Advisor and Director of Business Development Ross Kirwan joined about eight months ago from PGIM Investments.
Raniszeski, senior managing partner at Carnegie, said the four new team members were the first experienced advisors to join the firm with books of business. He said Carnegie will focus on transitioning the new team members in 2025, and then “look toward further acquisitions in 2026 and beyond.”
“It is very important for us to put our clients, advisors and team members before anything else, which means focused effort on a smooth transition for clients and not overwhelming our team members with too many additions in short succession,” he said. “We are all about sustainable growth.”
Carnegie is the largest team to join LPL Strategic Wealth since it went live in April 2020, according to a spokesperson. The minimum asset requirement to join the network is more than $200 million, and the channel has grown to about 48 wealth teams overseeing $26.2 billion in assets, according to LPL’s website.
Decker, formerly of Edwards Jones, said in a statement that Carnegie “offers what I’ve been searching for; advanced planning resources, collaborative expertise and innovative technology that allows me to create customized solutions for my clients. Their independent approach with support from LPL means I can focus on building lasting relationships and delivering personalized strategies that evolve with my clients’ needs.”
Seth Miller said in a statement that Carnegie and LPL were the “obvious choice” after conducting a due diligence process.
“By going independent with Carnegie Private Wealth and LPL, I have more freedom to make decisions at a local level that are truly in my clients’ best interests,” he said.