Financial advisers Michael Caffrey, CRPC; Derek Keller, CFP, CPFA, CRPC, MBA; and Gabriel Parham have launched a new independent practice, Air Capital Wealth Management, through affiliation with LPL Strategic Wealth Services. The team reported having served approximately $685 million in advisory, brokerage, and retirement plan assets and joined LPL from Merrill Lynch.
Based in Wichita, Kan., and with support from two assistants, the advisers share a commitment to providing comprehensive services and personalized advice to their clients.
“Our mission is to help each individual client with their financial goals by simplifying the complexities, making it easier for them to understand,” said Parham, who noted their client base spans from doctors, engineers, and pilots to farmers, teachers, and small business owners. “We are passionate about building deep relationships with clients and providing them with personalized financial strategies.”
As they continue to honor the legacy of the firm’s early leaders – Ron Caffrey (Michael’s father), Janet Johnson, and Deborah Rowley – all who have since retired, the Air Capital team decided the independent model would best suit the growing needs of their business.
“We want to be able to focus on clients, their goals and objectives, not corporate mandates,” Caffrey said. “LPL provides us with the flexibility and resources we need to make our own decisions and build our business how we want. We also have several new options across the board within LPL’s open architecture platform, including more planning software, which allows us to provide even more comprehensive and personalized experiences for our clients.”
The team was drawn to LPL’s comprehensive supported independence solution, LPL Strategic Wealth Services, which combines the freedom and flexibility of entrepreneurship with hands-on business services and support to help practices, both operationally and strategically. In addition to having access to LPL’s innovative wealth management platform and sophisticated resources, SW advisers benefit from LPL’s integrated service that includes simplified pricing, technology and dedicated support to launch their practice. Then after the transition, SW teams receive ongoing operations support managed by a business strategist, marketing partner, chief financial officer, and administrative assistant.
“We truly appreciate all of these dedicated resources and sophisticated capabilities behind the scenes to allow us to run the business as we see fit while also ensuring clients are getting the best care,” Keller said. “We look forward to having more time to interface with clients and providing them with differentiated experiences.”
As independent advisers, LPL said all three look forward to expanding their local presence by using Wichita-based vendors and investing more back into the community.
“We welcome Mike, Derek, and Gabe to LPL and congratulate them on the launch of their new independent business. We are committed to being a long-term partner to the Air Capital team — and all our advisers — by delivering a leading wealth management platform that supports the full lifecycle of their business,” said Scott Posner, LPL executive vice president of business development.
LPL Financial Holdings Inc. serves nearly 23,000 financial advisers, including advisers at more than 1,000 enterprises and 580 registered investment adviser firms nationwide. Headquartered in San Diego, its total advisory and brokerage assets totaled $1.56 trillion as of Aug. 30, 2024.
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