LPL Financial says an adviser with about $750 million in client assets has started an independent practice with the company through its network of independent advisers.
Hugues Lau, based in Lincoln, Nebraska, launched Lau Financial Group in affiliation with LPL Strategic Wealth Services, says the firm. He shifted his practice from D.A. Davidson and is joined by the Branch Operations Manager JoAnn Kreitman.
LPL’s strategic wealth services model was attractive to Lau and Kreitman, especially given their small team, Kreitman said. The channel is providing building construction, brand development, technology setup and human resources support to help with the transition, according to the company. Once a practice is established, administrative assistance, including CFO support, is available.
“We are a small team of two, so we needed the extra layer of support from LPL Strategic Wealth Services,” Kreitman said in a statement. “It gives us very strong support, but the freedom to build the practice on our own terms.”
Specifically, Lau thinks the model can help with customer acquisition.
“We are excited to be able to market our new brand and promote ourselves within the community,” Lau said. “With LPL’s extensive infrastructure, I am confident in our ability to grow our business and help families.”
Lau places particular emphasis on multigenerational wealth, says LPL. His own family has had ties to the community since the 1860s, LPL says, when HP Lau emigrated to Lincoln and founded a grocery store.
Hugh Lau began his career in financial services in 2000 at HER Edwards & Sons, where he worked until 2008. After a brief stint at Wells Fargo, he joined DA Davidson in 2009, according to BrokerCheck records.
Outside of the company, Lau volunteers for Headlight, an after-school program at Lincoln, according to the organization’s website. He previously served on the board of directors of Madonna Foundation, which provides physical rehabilitation for children and adults, and the Tabitha Foundation, which focuses on care for the elderly.
Kreitman previously chaired the Stransky Concert Series and currently volunteers for the community radio station KZUM, Lighthouse and the People’s City Mission, according to LPL.