The move was prompted by Sierra Ridge’s recent decision to switch broker-dealers, a change that would have forced clients to undergo account transfers and technology updates. By aligning with Gateway, the team avoided the administrative burden of repapering, allowing for a seamless transition for their clients. Ryan Bell, representing the incoming group, cited Gateway’s partnership culture and growth resources as the primary drivers behind their decision to prioritize client continuity.
Sierra Ridge Team Joins Gateway Financial, Keeping LPL Platform
Twenty-eight advisors and staff from Sierra Ridge Advisor Group have defected to Gateway Financial Partners, opting to maintain their existing LPL Financial platform rather than follow their former firm to a new broker-dealer. The transition secures $825 million in assets under advisement for the Glastonbury-based hybrid RIA.
This addition bolsters Gateway’s national presence to more than 200 advisors across 27 states, managing over $10 billion in combined assets. David Wood, founder and chief visionary officer at Gateway, noted that the group’s choice reflects a commitment to minimizing client disruption. The firm, which provides infrastructure for compliance, marketing, and succession planning, intends to integrate the new advisors into its existing growth and equity programs immediately.
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