Louisiana financial advisor Tiger Blackwell has become the first affiliate to join LPL Financial LLC's independent employee advisor program.

“LPL is committed to delivering independent solutions designed to meet the needs of advisors wherever they are in the evolution of their practice,” Rich Steinmeier, LPL Financial managing director and divisional president for business development, said in an LPL news release today. “With our employee channel, advisors have stability along with the flexibility to manage their businesses on their terms and the ability to stay focused on their clients.”

Advisors who choose to leverage LPL’s independent employee model own their client relationships and have brand autonomy, while LPL manages the logistics of running the business, according to LPL. They also have access to specialized services and resources that include strategic growth support, a dedicated marketing professional to help brand and market their business, increased administrative resources to support the demands of a modern wealth management practice, and capital to grow or monetize their business, the company said. 

LPL said its independent employee advisors receive a competitive payout, with no platform, transaction or administrative fees, along with a full suite of employee benefits.

LPL formally launched the new affiliation program in August, exactly one year after closing on its acquisition of Allen & Co., a Lakeland, Fla.-based broker-dealer/RIA managing $3 billion in client assets. Under terms of the 2019 M&A transaction, Allen’s advisors joined the LPL family under an independent employee affiliation model that is now open to other advisors. 

Blackwell, who launched his practice in his hometown of Baton Rouge under the name Blackwell Money Management, reportedly served about $100 million in brokerage, advisory and retirement plan assets upon joining LPL from Stifel, Nicolaus & Company.

‘It’s all about the numbers and putting the odds in your favor,’” Blackwell said in the news release, quoting his former baseball coach at Louisiana State University. “That resonated with me and has become a motto for how I help clients with their financial situations.”

LPL Financial Inc., headquartered in Fort Mill, S.C., San Diego and Boston, is the nation’s largest independent broker-dealer.