TrestleBridge Capital said early Thursday that is now doing business as an independent financial firm with $100 million in brokerage and advisory assets under management and is trading securities through LPL Financial (LPLA).
Austin, Texas-based TrestleBridge, which has five employees, is set to focus primarily on providing nationwide wealth management services to high-net-worth clients, as well as mass affluent investors.
LPL closed its NewstWise platform, which aimed to serve the middle market, last month.
“We are delighted to welcome TrestleBridge Capital to our platform,” said Bill Morrissey (left), executive vice president of business development for LPL, in a press release. “Andrew Gonski and his team of professionals have a growing and dynamic firm that we look forward to supporting with industry-leading tools and resources so they can provide their clients with quality independent advice.”
In addition to brokerage services, LPL Financial will provide TrestleBridge with technology, research and practice-management tools to build and grow its business.
“We are extremely excited to launch our new firm, which fulfills a need for truly independent financial counsel that is in rising demand in both Texas and across the nation,” said Gonski, principal of the firm and an ex-Ameriprise independent advisor, in a statement.
“Mass affluent and high-net-worth investors are seeking a hands-on advisor who can connect them seamlessly with the sophisticated financial solutions, while integrating these solutions within a broader holistic plan that supports their life goals,” the 15-year industry veteran added.
In addition to working with LPL, TrestleBridge Capital advisors is partnering with Flagship Harbor Advisors, an RIA firm in Boston, to offer fee-based services. The Texas firm is registered to do business in 17 states.