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New Independent Firm Wellspring Advisor Group Is Launched
Eliane Chavagnon
11 February 2015
Wellspring Advisor Group, a newly-launched independent financial advisory firm led by John E Carroll, has joined LPL Financial's broker-dealer platform. Wellspring has also aligned with Independent Financial Partners' registered investment advisor platform to support its fee-based financial advisory business, as well as affiliating with Pensionmark Retirement Group, which provides retirement plan administrative and fiduciary support services, according to a statement from LPL. Carroll has nearly 30 years of experience in the financial services industry. He was part of the executive start-up team that launched Wellspring Resources, which became one of the largest retirement plan outsourcing firms in the US, LPL said, in a joint venture with State Street Bank of Boston in 1996. Wellspring will focus primarily on providing fee-based retirement planning services to privately-owned professional service firms, as well as retirement planning and wealth management services to business owners. Clients have included physicians, lawyers, accountants and engineers - mainly in Louisiana and Mississippi. Joining Carroll at Wellspring are two additional professionals in a non-advisory capacity, to assist with client services and operations management. As of November 1, 2014, Carroll had more than $130 million in brokerage and advisory assets.