LPL Financial has added a substantial advisory team from PNC Private Bank, as the wealth management giant continues its aggressive recruitment push. Scott Gilliam and Travis Blessing, who previously managed approximately $2 billion in advisory plan assets at PNC, have established a new independent practice called Align Private Wealth. The firm is based in Greenwood, Indiana, a suburb of Indianapolis, and focuses on high-net-worth and ultra-high-net-worth clients.
The move underscores LPL's strategy of attracting advisors seeking greater autonomy. Gilliam noted that the decision was driven by a desire for full fiduciary status. “We both came from a wirehouse many years ago,” he said. “We both worked at Merrill Lynch, and for us, having an independent platform underneath us was incredibly important.” The team had already operated as fiduciaries before joining LPL, but the corporate RIA structure offered by LPL solidified their commitment.
Gilliam emphasized two additional factors in the transition: client selectivity and multigenerational planning. “One was we wanted to work with clients that want to work with us,” he explained. “And then secondly, we wanted to really build a book of business that was manageable and to limit the number of clients we take in and work with their families from the first generation all the way through grandchildren.” This approach aligns with broader trends in wealth management, where advisors increasingly prioritize deep, long-term relationships over asset accumulation.
Blessing highlighted LPL's technology ecosystem as a key draw. “We're really excited with the optionality and partnerships that LPL has with all the technology firms, from planning software options to CRM,” he said. “The planning software was definitely a focus, and for us to have the ability to have that at our fingertips, to the level that we think is best for our clients, was important.” This flexibility is critical as advisors navigate complex client needs, including private markets, which require sophisticated analytics.
LPL's recruitment momentum extends beyond this team. Recent additions include True Compass Advisors, a Connecticut-based firm that left Kestra; Emerald Wealth Management, formerly with Northwestern Mutual in Seattle; Cebert Wealth Advisors, a $1 billion team from Ameriprise; and Davis Executive Wealth, which departed Steward Partners. These moves reflect LPL's ability to attract advisors from diverse channels, including wirehouses, regional firms, and insurance-affiliated practices.
The Align Private Wealth team's transition also highlights the growing appeal of independence among advisors who previously operated in bank or wirehouse settings. As regulatory scrutiny intensifies—such as the SEC's focus on private credit disclosures—advisors may seek platforms that offer both compliance support and operational freedom. LPL's model provides a middle ground, combining the resources of a large institution with the autonomy of an RIA.
Marc Cohen, LPL's chief growth officer, welcomed the new team in a statement. “Their commitment to building deep, personalized relationships and delivering comprehensive, goals-based guidance reflects the kind of client-first approach we are proud to support,” he said. The addition of Align Private Wealth brings LPL's total recruited assets this year into the tens of billions, reinforcing its position as a dominant force in the independent channel.
For advisors considering a move, the decision often hinges on technology, compliance, and client service capabilities. LPL's investments in planning software and CRM tools, combined with its fiduciary RIA platform, appear to resonate with teams like Gilliam and Blessing's. As the wealth management landscape evolves, such transitions may become more common, particularly as advisors seek to differentiate themselves in a competitive market.
