Ox Road Capital Joins LPL Strategic Wealth Services
MWN-AI** Summary
On September 16, 2025, LPL Financial LLC announced the launch of Ox Road Capital, an independent financial advisory practice founded by seasoned financial advisors, including Jeffrey S. Allen, CFP, CTFA, Steve N. Armaly, Brian A. Blackburn, CFP, and Michael S. Lee, CEPA®. This new venture, which operates under the LPL Strategic Wealth Services model, comes as a result of the advisors’ transition from UBS, with Ox Road Capital managing approximately $1.25 billion in advisory, brokerage, and retirement plan assets.
Located in Greenville, S.C., the founding team brings nearly 100 years of collective experience, fostering a collaborative approach since coming together in 2016. They cater to a diverse client base, including ultra-high-net-worth individuals, pre-retirees, retirees, and C-suite executives, focusing on building long-term relationships rather than merely completing transactions.
The transition to LPL was driven by the desire to create a lasting legacy beyond the founders. Lee remarked on the necessity of developing a sustainable brand, while Allen highlighted the importance of avoiding conventional employment constraints. The team selected LPL’s Supported Independence model for its comprehensive support, allowing them to maintain entrepreneurial freedom while benefiting from operational assistance.
CEO Rich Steinmeier’s vision for LPL resonated with the team and solidified their decision. Scott Posner, Managing Director of Business Development at LPL, welcomed Ox Road Capital, emphasizing the firm’s commitment to providing resources and support tailored to the evolving needs of independent advisors. LPL’s model promises streamlined operations and dedicated support, enabling advisors like Ox Road to focus on their clients’ needs as they build their ideal practices.
MWN-AI** Analysis
The recent launch of Ox Road Capital, an independent financial advisory practice formed by a team of experienced professionals, marks a significant development in the wealth management industry. Transitioning from UBS to LPL Financial’s Strategic Wealth Services, Ox Road Capital represents a potent combination of seasoned expertise and the flexibility of an independent model that can resonate well with today’s financial landscape.
The firm, managing approximately $1.25 billion in advisory, brokerage, and retirement plan assets, is strategically positioned to cater to high-net-worth individuals and complex financial needs, such as those found among entrepreneurs and medical professionals. Their focus on tailored, relationship-driven service differentiates them in a market increasingly dominated by impersonal transactions. This approach underscores the growing consumer demand for personalized financial management.
For potential investors or clients, the affiliation with LPL Financial brings several advantages. LPL’s comprehensive wealth management platform offers sophisticated technology, operational support, and strategic resources. This allows Ox Road to focus more on client relationships and less on administrative burdens, a strategy likely to enhance service delivery and operational efficiency.
The timing of this move is critical. Amid economic uncertainties, advisors are seeking stability and a robust support system to navigate the evolving financial landscape. Ox Road’s decision to build its legacy through an independent platform with LPL aligns with a broader industry trend favoring independence, which offers greater control over client service and business strategies.
Investors should keep an eye on Ox Road Capital, as their unique blend of experience and client-centric philosophy, coupled with the strategic advantages of LPL Financial, positions them to effectively meet current market demands while crafting a lasting impact in the wealth management space. The firm's commitment to planning and building a legacy can resonate well with clients seeking long-term financial guidance.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
SAN DIEGO, Sept. 16, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Jeffrey S. "Jeff" Allen, CFP ® , CTFA, Steve N. Armaly, Brian A. Blackburn, CFP ® and Michael S. Lee, CEPA® have launched a new independent practice, Ox Road Capital , through affiliation with LPL Financial’s supported independence model, LPL Strategic Wealth . They reported serving approximately $1.25 billion in advisory, brokerage and retirement plan assets* and join LPL from UBS.
Based in Greenville, S.C., Allen, Armaly, Blackburn and Lee joined forces in 2016 and collectively have close to 100 years of experience. They built their business model by leveraging their individual strengths and now serve a national client base that includes ultra-high-net-worth individuals, pre-retirees and retirees, C-suite executives, entrepreneurs, medical professionals and private foundations and endowments.
“We created the current version of the team in 2016, recognizing that our diverse strengths made us a good team,” said Armaly. “The four of us allowed each other to focus on those areas that we found most rewarding. This allows us to spend much of our time in the areas that we love and give us energy.”
Blackburn added, “As a team, we do not make a decision without a unanimous vote, whether it is big or small. As for our clients, we are interested in a relationship, not a transaction. We say we don’t build a house or start a business without a plan, and we say the same thing about building someone’s financial future. You can’t do it without a plan.”
Why They Made the Move to LPL and Why Now
“All businesses and individuals have three seasons they pass through – Survival, Success and Significance. We reached that final stage where we began to think about legacy and it was clear we needed to make a move to really build something that could outlast the founders. In all, we are excited about the ability to build our own brand.” said Lee.
After a due diligence period, the team chose to affiliate via LPL’s comprehensive supported independence solution, LPL Strategic Wealth Services (SW). SW combines the freedom and flexibility of entrepreneurship with hands-on business services and support to help practices thrive, both operationally and strategically. The Ox Road Capital team includes, Wealth Strategy Associates, Marley Landrum, AAMS®, CRPC®; Brandon Mills; Nick Ray and Client Service Associates, Kyle Goff, Jack Shubert, Wendy Levi and Clark Rettberg.
“We started to narrow down things we didn’t want such as being a W2 employee, taking on an equity partner and hiring another partner to the firm. It became clear that the space we were targeting was the supported independent model space,” said Allen. “LPL has thought of everything, and we were impressed by the support offered. We’ve picked the right partner because of the way LPL has guided us through the process. I think the icing on the cake was visiting the LPL office in Fort Mill and sitting down with CEO Rich Steinmeier, where he articulated the vision for the firm.”
Lee added, “It was clear that LPL is ahead of the curve and a disrupter of the industry – from technology to service, speed, flexibility and creativity. We’ve seen more software rolled out during our due diligence period than we have seen before.”
In addition to having access to LPL’s comprehensive wealth management platform and sophisticated resources, SW advisors benefit from a truly integrated service that includes simplified pricing, technology and dedicated support to launch their practice. After the transition is complete, SW teams receive ongoing operations support managed by a team of experienced professionals, including a business strategist, marketing partner, CFO and administrative assistant. Advisors have one point of contact, a dedicated team and priority access to advocacy and project management for complex business issues, ultimately allowing them to stay focused on the enduring needs of their clients and the culture and evolution of their practice.
Scott Posner, Managing Director, Business Development, said, “We welcome the Ox Road Capital team and congratulate them on going independent with LPL Strategic Wealth. As they build their ideal practice, LPL is here to support them throughout their entire journey as independent advisors. We are committed to delivering sophisticated resources, innovative capabilities and strategic business solutions designed to help them build value with clients and win in the markets they serve.”
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About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports over 29,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $1.9 trillion in brokerage and advisory assets on behalf of approximately 7 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com .
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Ox Road Capital and LPL Financial are separate entities.
Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.
We routinely disclose information that may be important to shareholders in the “ Investor Relations ” or “ Press Releases ” section of our website.
*Value approximated based on asset and holding details provided to LPL from end of year, 2024.
Media Contact:
Media.relations@LPLFinancial.com
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FAQ**
How does the affiliation with LPL Financial Holdings Inc. (LPLA) enhance Ox Road Capital's ability to serve ultra-high-net-worth clients and other target demographics?
What specific technological advancements provided by LPL Financial Holdings Inc. (LPLA) influenced Ox Road Capital's decision to transition from UBS?
In what ways does Ox Road Capital plan to utilize LPL Financial Holdings Inc. (LPLA)'s resources to ensure long-term success and legacy for their clients?
How does Ox Road Capital's collaborative decision-making process align with the support offered by LPL Financial Holdings Inc. (LPLA) to empower financial advisors?
**MWN-AI FAQ is based on asking OpenAI questions about LPL Financial Holdings Inc. (NASDAQ: LPLA).
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