LPL Financial Announces Launch of LegacyCoast Private Wealth Through LPL Strategic Wealth

2026-11-12

Investivoq

Brett Mower and Timothy Gallagher launched LegacyCoast Private Wealth, an independent firm affiliated with LPL Financial, managing $480 million in assets.

Investivoq AI Summary

LPL Financial LLC has announced that financial advisors Brett Mower and Timothy Gallagher have established a new independent practice called LegacyCoast Private Wealth, joining LPL through its strategic wealth model. Previously associated with UBS, the team manages approximately $480 million in assets and serves a diverse clientele in Haddonfield, N.J. With a combined 41 years of industry experience, Mower and Gallagher focus on personalized wealth management that addresses investments, tax planning, and estate matters, among other services. They emphasize a relationship-oriented approach and use a six-step process to help clients make informed financial decisions. Mower and Gallagher chose LPL Strategic Wealth for its blend of independence, technology, and resources, believing it will enhance their ability to serve clients in an increasingly complex financial landscape. LPL welcomes their commitment to building a customized practice that prioritizes client relationships and personalized support.

Potential Positives

LPL Financial expands its service offerings by welcoming Brett Mower and Timothy Gallagher, who bring approximately $480 million in assets under management to the firm, enhancing its market position.
The affiliation with LegacyCoast Private Wealth demonstrates LPL's effective support for independent financial advisors, reinforcing its reputation for providing valuable resources and flexibility to enhance client service.
The introduction of a new independent practice aligns with LPL Financial's strategy of fostering entrepreneurship among advisors, which could attract more talented professionals in the wealth management sector.
This partnership emphasizes LPL's commitment to personalized wealth management, showcasing its ability to adapt to evolving client needs through the provision of advanced technology and dedicated support for advisors.

Potential Negatives

The announcement of Mower and Gallagher launching an independent practice suggests potential issues with advisor retention for LPL Financial, as the firm loses established advisors managing substantial assets.
The need for Mower and Gallagher to affiliate with LPL Strategic Wealth due to evolving client needs may indicate challenges in meeting those needs within LPL Financial's current framework, raising concerns about the firm's adaptability.
The press release highlights that the advisors pursued independence to take greater control, which may reflect dissatisfaction with their previous corporate structure at UBS, potentially raising questions about LPL's ability to provide adequate support and resources for advisors.

FAQ

Who are the founders of LegacyCoast Private Wealth?

LegacyCoast Private Wealth was founded by financial advisors Brett Mower and Timothy Gallagher.

What services does LegacyCoast Private Wealth provide?

The firm offers comprehensive financial guidance, including investment services, retirement planning, tax strategies, and estate planning.

What is the mission of LegacyCoast Private Wealth?

Their mission is to create thoughtful financial decisions based on clients' lifestyles and long-term objectives.

Why did Mower and Gallagher choose LPL Strategic Wealth?

They selected LPL for its independence, technology, support, and the ability to better serve their clients’ sophisticated needs.

What is the significance of the name LegacyCoast Private Wealth?

The name reflects the team's roots along the Jersey Shore and their commitment to helping clients understand their wealth legacy.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

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$LPLA Insider Trading Activity

$LPLA insiders have traded $LPLA stock on the open market 4 times in the past 6 months. Of those trades, 0 have been purchases and 4 have been sales.

Here’s a breakdown of recent trading of $LPLA stock by insiders over the last 6 months:

GREG GATES (Group Managing Director) sold 4,119 shares for an estimated $1,463,810
ANERI JAMBUSARIA (Group Managing Director) has made 0 purchases and 2 sales selling 616 shares for an estimated $204,314.
KATHARINE REEPING (Principal Accounting Officer) sold 439 shares for an estimated $153,049

To track insider transactions, check out Investivoq's insider trading dashboard. You can access data on insider stock transactions through the Investivoq API insider transaction endpoint.

$LPLA Revenue

$LPLA had revenues of $5.3B in Q3 2026. This is an increase of 17.4% from the same period in the prior year.

You can track LPLA financials on Investivoq's LPLA stock page.

You can access data on LPLA stock through the Investivoq API.

$LPLA Congressional Stock Trading

Members of Congress have traded $LPLA stock 4 times in the past 6 months. Of those trades, 4 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $LPLA stock by members of Congress over the last 6 months:

REPRESENTATIVE GILBERT RAY CISNEROS, JR. has traded it 4 times. They made 4 purchases worth up to $60,000 on 06/11, 06/05, 05/19, 05/14 and 0 sales.

To track congressional stock trading, check out Investivoq's congressional trading dashboard. You can access data on congressional stock trades through the Investivoq API Congress trades endpoint.

$LPLA Hedge Fund Activity

We have seen 361 institutional investors add shares of $LPLA stock to their portfolio, and 406 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

MASSACHUSETTS FINANCIAL SERVICES CO /MA/ removed 2,410,600 shares (-62.3%) from their portfolio in Q2 2026, for an estimated $679,017,808
GOLDMAN SACHS GROUP INC added 1,335,148 shares (+370.0%) to their portfolio in Q2 2026, for an estimated $376,084,488
MARSHALL WACE, LLP added 975,627 shares (+inf%) to their portfolio in Q2 2026, for an estimated $274,814,613
LONE PINE CAPITAL LLC removed 830,868 shares (-40.5%) from their portfolio in Q2 2026, for an estimated $234,038,898
ASSENAGON ASSET MANAGEMENT S.A. removed 735,425 shares (-98.4%) from their portfolio in Q3 2026, for an estimated $224,892,965
MILLENNIUM MANAGEMENT LLC removed 684,094 shares (-76.8%) from their portfolio in Q2 2026, for an estimated $192,695,597
FMR LLC added 611,979 shares (+62.4%) to their portfolio in Q3 2026, for an estimated $187,143,178

To track hedge funds' stock portfolios, check out Investivoq's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Investivoq API 13F endpoint.

$LPLA Price Targets

Multiple analysts have issued price targets for $LPLA recently. We have seen 2 analysts offer price targets for $LPLA in the last 6 months, with a median target of $392.5.

Here are some recent targets:

Benjamin Budish from Barclays set a target price of $394.0 on 07/09/2026
Michael Brown from UBS set a target price of $391.0 on 07/08/2026

Full Release

SAN DIEGO, Nov. 12, 2026 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Brett Mower and Timothy Gallagher have launched a new independent practice, LegacyCoast Private Wealth , through affiliation with LPL Financial’s supported independence model, LPL Strategic Wealth . The team reported serving approximately $480 million in assets* and joins LPL from UBS.

Based in Haddonfield, N.J., Mower and Gallagher serve individuals and families, including physicians, attorneys, entrepreneurs, small business owners and multigenerational families. Mower entered the financial industry in 1995, working in investment banking and international institutional sales before transitioning to private wealth management in 2003. Gallagher brings 16 years of industry experience and more than 25 years of financial experience to the firm.

The team takes a goals-based approach to wealth management, considering investments, tax planning, estate matters and charitable priorities within the broader context of each client’s lifestyle and long-term objectives. The firm provides comprehensive financial guidance, investment services, retirement and income planning, tax and wealth strategies, estate and legacy planning, business owner and executive planning, and ongoing financial management.

“We believe great financial management begins with understanding the person, not just the portfolio,” said Mower. “Our clients know we will be there when they need us and that we genuinely care about them and their families. We listen first, provide clear and straightforward advice, and go above and beyond to help clients feel confident about their financial futures. That experience is why many clients introduce their friends and family to us.”

The firm’s six-step process, Discover, Analyze, Strategize, Implement, Monitor and Evolve , is designed with a goal to help clients understand where they stand and make thoughtful financial decisions as their priorities and circumstances change. The team’s five core values are clarity, relationships first, integrity, stewardship and personalization.

The name LegacyCoast Private Wealth reflects both the team’s personal roots and the purpose behind its work. Having grown up along the Jersey Shore, Mower and Gallagher learned the importance of hard work and looking out for the people around them. “Coast” recognizes where their story began, while “Legacy” represents helping clients make thoughtful decisions about their wealth, the people and priorities it supports, and what they want to carry forward.

Why They Chose LPL Strategic Wealth

The team had long considered independence and determined that the time was right to take greater control of the practice and create a firm reflecting their own culture and client-service philosophy. As the practice looked to grow, the advisors wanted expanded business support, greater flexibility and access to technology and resources that could help them remain ahead of evolving client needs.

“Independence was always in the back of our minds, and we reached a point where we knew it was time to take control and build something of our own,” said Gallagher. “Our clients’ needs are becoming increasingly sophisticated, particularly in areas such as tax strategy and technology. We wanted a partner that could help us stay in front of those changes, grow our team, and create an experience that is even more personal and responsive. LPL gives us the scale and resources of a major firm while providing the flexibility to build our own culture and serve clients our way.”

The team selected LPL Strategic Wealth for its combination of independence, technology, research, investment choice and dedicated practice support. The advisors believe the affiliation will allow them to develop more tailored strategies, expand solutions available to clients and benefit from LPL’s scale while remaining focused on their client relationships.

In gaining access to LPL’s comprehensive wealth management platform and sophisticated resources, Strategic Wealth advisors also receive an integrated service that includes simplified pricing, technology and dedicated support to launch their practices. Following the transition, Strategic Wealth teams receive ongoing operations support managed by 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, allowing them to remain focused on their clients and the continued evolution of their practices.

“We welcome Brett, Tim and the LegacyCoast Private Wealth team to LPL Strategic Wealth,” said Ken Hullings, head of advisor recruiting and executive vice president of business development. “They have built strong client relationships by listening closely, providing candid guidance and being there when clients need them most. Their decision to launch an independent firm reflects a clear vision for the future: to create a highly personalized practice that combines genuine care with sophisticated wealth management capabilities. We are proud to support their entrepreneurial vision with the technology, resources and dedicated business support they need to grow and evolve alongside their clients.”

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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 more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 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 adviser and broker-dealer. Member FINRA/SIPC. LegacyCoast Private Wealth 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, 2025.

Media Contact:
Media.relations@LPLFinancial.com

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