Bartholomew & Company Launches $6 Billion Hybrid RIA, Keeping LPL as Custodian
Updated
Updated · Wealth Management · Jul 6
Bartholomew & Company Launches $6 Billion Hybrid RIA, Keeping LPL as Custodian
1 articles · Updated · Wealth Management · Jul 6
Summary
$6 billion advisor team Bartholomew & Company launched Monday as a hybrid RIA, breaking from Commonwealth while retaining LPL Financial as custodian and broker-dealer.
About 5,000 clients are set to move from Fidelity Investments to LPL in a planned November transition, which CEO Alex Bartholomew said should avoid repapering and preserve client data.
Bartholomew said LPL's acquisition of Commonwealth made independence practical after years of consideration, giving the 34-employee Worcester firm more control over its tech stack, research and investment recommendations.
LPL has already seen several firms depart since the Commonwealth deal was announced in March 2025, though Bartholomew said LPL executives worked closely to keep the firm on its platform.
The new firm plans to become multi-custodial over time, suggesting it sees the LPL arrangement as a transitional step rather than a final operating model.