Illinois Advisor With $725M Joins LPL’s Genesis Wealth
An Illinois-based advisor managing $725 million in client assets is joining a non-OSJ branch office of LPL Financial from JPMorgan Securities.
Alan Feutz’s move to Genesis Wealth is part of a larger effort to attract bank-based advisors to the firm, and Feutz will operate out of the firm’s newly opened branch office in Chicago’s North Shore.
Alan Feutz has about 25 years of industry experience and is based in Deerfield, Ill., about 35 miles outside of Chicago. He works with high-net-worth and ultra-high-net-worth clients, and according to Genesis Wealth Managing Director Jack Kennedy, Feutz shares the firm’s “commitment to personalized planning and client care.”
Feutz first registered in 1999, with stints at Northern Trust and American Express Financial Advisors before joining Chase Investment Services in 2005 and registering with JPMorgan Securities seven years later.
Genesis’ new 10,000-square-foot office in Chicagoland (specifically located in Deerfield) would accommodate more than 20 advisors and support staff. Initially, Feutz and his client team (as well as Genesis Wealth founding advisor Joel Feiger, his team and Kennedy) will staff the Deerfield office while seeking out more recruiting opportunities.
Earlier this month, Genesis Wealth announced it had surpassed $3 billion in client assets on its platform, with Founder Kosta Tanglis saying the success was a “clear validation” of the firm’s operating model of handling advisor transitions “thoughtfully and compliantly.”
The firm began as a division with Professional Wealth Advisors (PWA), which is an office of supervisory jurisdiction for LPL and operates on its broker/dealer platform. The firm was founded in January 2024 and officially launched with its current branding last July.
According to the firm, it’s built its AUM entirely through organic growth, focusing on breakaway advisors from banks and non-Broker Protocol situations. The firm pledges to adhere to non-solicitation standards (notable, given the increased intra-firm conflict in the space over restrictive covenants in employee contracts) and does not directly solicit clients.
Earlier this week, LPL added Spectrum Wealth Strategies, an eight-advisor team based in Dallas managing about $1.5 billion in client assets. The team joined from MassMutual and has additional offices in Waco, Texas, and Wilmington, N.C.
Additionally, last month LPL recruited Cebert Wealth Advisors, a Central Florida-based team with $1 billion in assets.