# Ohio advisor leaves Edward Jones for LPL to launch SteadRock Private Wealth URL: https://www.financialadvsr.com/article/ohio-advisor-leaves-edward-jones-for-lpl-to-launch-steadrock-private-bc5003 Published: November 12, 2026 By: Grant Whitmore, Moves Correspondent Section: Moves Publisher: Financial ADVSR (https://www.financialadvsr.com) Nathan Hershman, who reported about $185 million in client assets, joins LPL's broker-dealer and RIA platforms to launch an independent firm serving retirees and business owners. InvestmentNews reported that an Ohio-based advisor has left Edward Jones to start an independent firm, SteadRock Private Wealth, operating on the LPL Financial platform. The story starts from an LPL Financial announcement issued on November 11, which said financial advisor Nathan J. Hershman, who goes by Nate, had joined LPL's broker-dealer and registered investment advisor platforms to launch the firm. Financial ADVSR has not independently verified the announcement against regulatory filings. The LPL release said Hershman has been serving approximately $185 million in advisory, brokerage and retirement plan assets, based on asset and holding details from year-end 2025. That figure measures client assets served by the advisor, not a price or revenue number. Hershman joins LPL from Edward Jones. The release states that SteadRock Private Wealth and LPL Financial are separate entities, and it credits Ken Hullings, LPL's head of advisor recruiting and EVP of business development, with praising Hershman's client-focused approach. The release places SteadRock in North Canton, Ohio, and says the firm works with households, individuals nearing retirement or already retired, and owners of businesses, among them manufacturers. Through the affiliation, the firm has access to LPL's technology, investment platform and business support resources. The release also says Hershman holds ChFC, CEPA, AAMS, CPWA and CRPC designations. Pulse2 reported that LPL announced the same week that SteadRock was one of four practices joining the firm, alongside FHT Advisors, Impel Wealth Management and Sound Foundation Wealth Advisors. Pulse2 put the combined client assets of the four practices at approximately $2.035 billion. That figure covers all four practices together and should not be read as SteadRock's alone. The Hershman figure of about $185 million is the only SteadRock-specific asset number in the sources reviewed. Pulse2 also said LPL serves over 32,000 advisors, along with about 1,100 financial institutions' wealth management practices. Other sources describe LPL as the largest independent broker-dealer in the United States, with roughly 11 million customer accounts at the end of 2025, according to Trendlyne. LPL Financial Holdings trades on Nasdaq under the ticker LPLA. Platform asset estimates for LPL differ by source and date, and this article does not rely on them. Edward Jones, the firm Hershman is leaving, was founded in 1922 in downtown St. Louis by Edward D. Jones, according to SmartAsset. Fortune lists its headquarters as Des Peres, Missouri, and describes it as a subsidiary of Jones Financial Companies, a privately held firm. SmartAsset reports that Edward Jones registered with the Securities and Exchange Commission as a broker-dealer in 1941 and as an investment adviser in 1993. The sources reviewed do not include a response from Edward Jones to the departure. InvestmentNews also characterized LPL as the top recruiter in the independent broker-dealer channel. Citing an ISS Market Intelligence report, the outlet said LPL recorded more than 7,200 net advisor additions over the five years ending in 2025, the largest of any firm. The sources do not describe when SteadRock's client transitions will take place or how the new firm will be structured beyond its LPL affiliation. Financial ADVSR will update this story if Edward Jones or Hershman provides further detail. Key facts: - Hershman reported about $185 million in advisory, brokerage and retirement plan assets, per LPL's November 11 release - SteadRock Private Wealth is based in North Canton, Ohio, per the LPL release - Pulse2 reported four practices joining LPL with approximately $2.035 billion in combined client assets - ISS Market Intelligence data cited by InvestmentNews shows LPL with more than 7,200 net advisor additions over five years ending 2025 - Edward Jones was founded in 1922 in downtown St. Louis by Edward D. Jones, according to SmartAsset Why it matters: For advisors weighing a move, this launch shows an advisor leaving a large national firm to build a practice on an independent broker-dealer and RIA platform while keeping a client focus on retirees and business owners. Recruiters will note that LPL is adding practices in groups, and that the same week brought four practices with combined client assets above $2 billion. Firm leaders will want to track whether this kind of recruiting remains concentrated at a single platform. Sources: - InvestmentNews: https://www.investmentnews.com/independent-broker-dealers/edward-jones-advisor-launches-steadrock-private-wealth-on-lpl-platform/268979 - stockhouse.com: https://stockhouse.com/news/press-releases/2026/11/11/lpl-financial-welcomes-steadrock-private-wealth - globenewswire.com: https://www.globenewswire.com/news-release/2026/11/11/3400719/29579/en/lpl-financial-welcomes-steadrock-private-wealth.html - investor.lpl.com: https://investor.lpl.com/news-releases/news-release-details/lpl-financial-welcomes-steadrock-private-wealth - stocktitan.net: https://www.stocktitan.net/news/LPLA/lpl-financial-welcomes-stead-rock-private-i14ry7i9mrff.html - manilatimes.net: https://www.manilatimes.net/2026/11/11/tmt-newswire/globenewswire/lpl-financial-welcomes-steadrock-private-wealth/2467626