Genesis Wealth, a Chicago-based wealth management firm operating under LPL Financial, said it had reached $2.5 billion in assets under management (AUM) a week before the start of the holiday season. The platform, designed by top-performing advisors for peers seeking independence without the operational burden, is receiving increased attention from advisors who are part of a broader trend: bank-to-independent transitions.
Officially launched in July 2025 under the Genesis Wealth brand, Genesis is a non-OSJ branch office under LPL Financial. Its supported independence model, the firm says, allows advisors to retain focus on clients while infrastructure, compliance and technology are provided to enhance advisor capabilities.
“Our year-to-date recruiting success reflects the appeal of our model,” said Kosta Tanglis, founder and managing partner at Genesis Wealth. “Here, advisors can combine independence with a growth-oriented culture and strong operational support. We’re thrilled to welcome so many accomplished advisors to our platform and to help them advance their practices while delivering exceptional client service.”
Genesis says it can provide advisors with turnkey infrastructure: office space, staff, LPL affiliation and technology platforms. The firm’s emphasis on advisor flexibility and expanded product access – to investments, alternative strategies, tax and estate planning tools – could be a draw for a significant number of bank advisors who seek greater professional freedom to better serve their high-net-worth and ultra-high-net-worth clientele.
The outlook could be bright for the young firm. The $2.5 billion in AUM surpasses 2025 targets, with high-performing advisors driving the momentum, the firm said in the announcement issued this week.
“These results are a testament to the hard work of our team and the strength of our advisor-first approach,” said Barry Krumwiede, founder and wealth advisor at Genesis Wealth. “We’re committed to tripling down on this model and continuing to attract top talent from the banking world. As part of this strategy, we plan to significantly expand our real estate footprint in the Chicagoland area in 2026.”
