The Financial Services Network (The Network) announced along with Frank X. Aceves, Jr., CFP®, that Oak Wealth Management (OWM) has acquired the investment management practice of LPL Financial advisor Kathy Conlin. The acquisition comes as part of a large growth strategy for OWM, an investment management and financial planning practice based in Walnut Creek, California.
The partnership and eventual sale were the succession strategy for Conlin, who had over 40 years of industry experience, while Oak Wealth Management founder and CEO Aceves feels the acquisition is a perfect fit. “I’m thrilled for the expansion,” Aceves said. “My firm is still growing and it’s very exciting.” It’s this same enthusiasm that he brings to his clients: “My focus is on family relationships,” he said. “I am blessed to say that pre-acquisition, we service two, three, or four generations within more than one-third of our family relationships, and carry over a 99% percent retention rate.”
Because of this reputation and commitment to multigenerational trust, Aceves knew he would need to find the ideal partner when bringing a new business into his practice. When Aceves and Conlin met by chance at an airport after they both attended an LPL conference in Boston in 2018, Aceves reflects, “it was fate in motion. Kathy and I hit it off right away.” In 2019, coincidentally The Network Managing Partner Christopher Mercado reintroduced them, knowing Conlin was looking for an office and eventual retirement. The two advisors were shocked and pleased to see each other again. It was the ideal match. With any acquisition process, sometimes the details can get overlooked, so “you have to know the person you’re getting into business with,” Aceves noted. “You have to understand the sincerity behind their intent and have trust in them.”
“I couldn’t be more pleased that Aceves is taking over Conlin’s practice,” Mercado stated. “With their complimentary strategies and professional dedication, her clients will be in capable hands.”
The Financial Services Network (http://marineradvidev.wpengine.com), is a group of professionals that provide services to financial professionals affiliated with LPL Financial (LPL) or Strategic Wealth Advisors Group (SWAG). Advisors who are affiliated with LPL Financial as an Investment Advisor Representative and a Registered Representative oversee $8.9B of advisory assets and $8.8B of brokerage assets through LPL.
The staff and consultants of The Financial Services Network may be Registered Representatives with, and securities are offered through LPL Financial, Member FINRA/SIPC. Fee-based investment advisory services may be offered through Strategic Wealth Advisors Group (SWAG), a Registered Investment Advisor or LPL Financial, a Registered Investment Advisor. Both SWAG and The Financial Services Network are separate entities from LPL Financial.
Frank X. Aceves, Jr., is a registered representative with, and Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Strategic Wealth Advisors Group, LLC. a registered investment advisor. Strategic Wealth Advisors Group, LLC. and Oak Wealth Management are separate entities from LPL Financial.