LPL lands $500M advisor duo from First Republic

Dustin Raring and Tim Woodall, co-founders and advisors at Highway One Capital.

The broker-dealer giant’s latest additions in Newport Beach, California broke away to launch their own independent practice.

LPL has expanded its profile on the West Coast wealth scene with a pair of former First Republic advisors in California.

On Tuesday, LPL Financial announced the launch of Highway One Capital, an independent financial advisory practice established by Tim Woodall and Dustin Raring. The new firm has affiliated with LPL’s supported independence model, LPL Strategic Wealth Services.

Previously part of First Republic, now under JPMorgan Chase, Woodall and Raring reported managing approximately $500 million in advisory, brokerage, and retirement plan assets.

Based in Newport Beach, California, Woodall and Raring bring over 55 years of combined industry experience. Best friends for years, they formed their partnership in 2012 to leverage their distinct skillsets for client benefit.

With client support provided by Taylor Ford, the team primarily caters to business owners and high-net-worth, multigenerational families.

“In a world that’s shifted to model portfolios and simplified offerings, we truly spend a lot of time, energy and effort customizing strategies for each individual client or family,” Woodall said in a statement. “We enjoy getting to know what clients want to do with their finances and how their wealth can help drive their goals and ambitions.”

The brand name, Highway One Capital, reflects California’s famed Highway One, symbolizing the team’s commitment to personalized client service, family values, and wealth management.

“This decision to move to LPL was driven by our desire to have full control in how we build our business and serve clients,” Raring said.

He highlighted the advantages of joining LPL, noting that they can now utilize the strengths of a major firm.

Raring also emphasized the benefits of having access to “integrated technology, strategic business resources, and a wide selection of investment choices.”

Highway One Capital’s affiliation with LPL Strategic Wealth Services offers the benefits of entrepreneurship combined with extensive business services and support.

The team will also have access to LPL’s Private Wealth offering, which includes estate planning, legacy planning, tax strategies, and comprehensive solutions for concentrated equity positions.

Highway One Capital’s launch with LPL extends the wealth giant’s June recruitment record. On Monday, LPL welcomed a former Corebridge Financial advisor who launched his own comprehensive planning practice in Texas.