LPL Financial LLC has announced that IHT Wealth Management has transitioned to the LPL broker-dealer and hybrid RIA custodial platform.
IHT consists of a total of six experienced financial advisors and four administrative staff, which had supported client brokerage and advisory assets of approximately $592 million, as of June 19, 2014.
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Based in downtown Chicago, IL, IHT Wealth Management is a newly-launched independent financial advisory firm and hybrid RIA founded by industry veteran Steven Dudash. IHT will focus on providing holistic, customized wealth management strategies primarily to private retail mass-affluent and high-net-worth clients with investable assets ranging from $250,000 to $10 million and up.
IHT was established with the objective of providing a high-end advisory practice environment for wirehouse advisors who seek control over their individual books of business and an efficient, cost-effective business structure, while still enjoying the resources, credibility and wirehouse feel of a top-tier financial institution.
IHT also intends to attract experienced advisors seeking a succession plan. They will find that transitioning to IHT will help enable them to develop an exit strategy that features increased flexibility. IHT’s range of seasoned professionals would also enable retiring advisors at IHT to confidently place their clients with an appropriate new advisor based on each end clients’ individual needs. In addition to its new offices in downtown Chicago, IHT expects to open two more offices in the metropolitan Chicago area in the coming months.
Steve Pirigyi, Executive Vice President of Business Development at LPL Financial, said, "We are very pleased to welcome IHT to LPL Financial. We are delighted that LPL Financial’s deep commitment to offering financial advisors the benefits of independence, flexibility and choice, along with a full suite of practice management support and capabilities, has again attracted an enterprising team of top advisors to our platform.
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By GlobalDataWe are confident that the comprehensive support, technology, compliance, research and other tools and resources that we offer will provide IHT with a sturdy foundation from which they will be able to continue to attract other highly successful advisors to their new firm."
Steven Dudash, President of IHT Wealth Management, said, "We are excited about launching IHT as an alternative environment for advisors and we are extremely pleased with the exceptional support we have received from LPL.
In meeting with several potential broker-dealer partners, we found LPL Financial to be most amenable and best-suited to accommodating our proposed business model, and we believe that their practice support and outstanding reputation will enable IHT to pursue our ambitious vision.
"We will provide a high level of service free from legacy costs and combined with a capacity for unbiased objectivity that a truly independent platform can offer. We look forward to working with LPL to provide our advisors a constructive home, so that they may best serve their clients’ interests and help them to work toward their long term-financial goals," he concluded.
