John Gallagher and Mark Levin have formed Radical Partners Wealth Management and signed up with LPL’s broker-dealer and business RIA platform and will take advantage of LPL as a custodian, lining up with LPL business firm Gladstone Wealth Partners, LPL states. The set managed around $2 billion in advisory, brokerage and retirement plan assets, the business says.

Gallagher and Levin– who had spent their entire professions at Morgan Stanley prior to making the jump– had formerly dealt with Richard Frick, handling partner and CEO at Gladstone Wealth Partners, at the wirehouse, LPL states. That relationship played a crucial part in their relocation, the company says.

“To make this relocation now, during a worldwide pandemic and in the middle of market unpredictabilities, was a substantial, thoroughly computed decision. We are entrepreneurs at heart and have actually decided to build a business that is our own, where we can be fiduciaries and keep our customers’ best interests at the forefront of whatever we do,” Gallagher states in a declaration.

The advisors are signed up with by 4 support staff, LPL states.

In July, a Wells Fargo advisor who managed $180 million associated with Gladstone as well.

LPL ended the 3rd quarter with 17,168 financial consultants, which was 1% higher than in the previous quarter and 5% greater year-over-year, as reported.

Morgan Stanley, meanwhile, had 15,469 advisors at the end of the 3rd quarter, which was 70 more than it had at completion of the 2nd quarter but still below the 15,553 agents the company had at the end of the 3rd quarter of 2019, as reported.