Warren Widmayer has merged his US based LPL Financial Holdings wealth-management accounts into Louisville-based Lamkin Wealth Management, according to Business First.
This move according to Lamkin president Mark Lamkin will makes his company the largest LPL Financial office in Kentucky.
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By GlobalDataAs a result of the transaction, Lamkin Wealth Management now has US$365 million in assets under management, he added.
Widmayer said the deal ensures that his clients will be taken care of in case anything happens to him.
Widmayer said: "It gets a larger team of individuals around me to handle the everyday tug of war in this business.
"When he decides to retire, we will be here, and his clients will have continuity," Lamkin added.
Lamkin currently has 20 employees and four offices, including the office Widmayer works in at his home in Middletown. Lamkin with 12 local wealth managers has US$235 million in local assets under management.