18 Advisor Team Strategic Partners, Inc Joins LPL Financial
LPL Financial has welcomed Strategic Partners, Inc. to its broker-dealer and custodial platforms, expanding its advisory capabilities. The Strategic team, with approximately $830 million in advisory assets and an additional $600 million in fixed life insurance and annuities, previously operated under Royal Alliance. Strategic Partners, led by Chris Lubbers, specializes in comprehensive financial planning and aims to leverage LPL's advanced technology for improved operational efficiency and client services. The partnership with National Financial Alliance was also seen as a substantial opportunity for growth.
- Strategic Partners brings approximately $830 million in advisory assets and $600 million in life insurance and annuity assets.
- The partnership with LPL is expected to enhance technology solutions and operational efficiencies.
- Increased growth opportunities are anticipated through collaboration with National Financial Alliance.
- None.
CHARLOTTE, N.C., Dec. 20, 2022 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that Strategic Partners, Inc. has joined LPL Financial’s broker-dealer, RIA and custodial platforms, aligned with National Financial Alliance (NFA). The Strategic team reported having served approximately
Headquartered in Parsons, Kansas, Strategic Partners Owner/President Chris Lubbers CFP®, CFS®, started his practice in 1994 while still in college, adding his first advisor a year later. He expanded the business in 2007 to create Strategic Partners, and the firm now has 18 advisors in nine states spanning from Texas to Connecticut. They are assisted by 16 client services support members.
Born and raised in Parsons, Lubbers brings a unique bond with the local community to the firm, as well as a desire to assist independent advisors across the country in their mission to deliver outstanding service experiences, customized strategies and a wide range of products to their clients.
“Our strength is the support and resources that we have available to help independent advisors thrive,” Lubbers said. “Our advisors each have a unique specialty and niche, all focused on comprehensive financial planning, and our goal is to connect them with specialists to help elevate their services. That includes our advanced planning division, a 401(k) team and our own insurance resources, as well as those from our new partners at National Financial Alliance and LPL.”
Why did Strategic Partners move to LPL & National Financial Alliance?
Lubbers and team turned to LPL and NFA for enhanced technology solutions, streamlined operational efficiencies and growth opportunities.
“I’m all about efficiency and that’s where LPL shines,” Lubbers said. “The firm has invested heavily in its technology platform, creating efficient processes and enhanced solutions that will help our advisors provide better services. Clients will have easier access to reporting and account information, all in one place to give them a deeper understanding of their financial picture.”
Lubbers also believes the move to LPL will appeal to other advisors who may be interested in joining Strategic Partners. “We wanted to be somewhere that is committed to the success of its advisors, investing in platforms and resources that will help us grow,” he said.
The opportunity to partner with National Financial Alliance was equally appealing, Lubbers said, adding that he’s known NFA’s CEO and President Reagan Wagner for more than 20 years. “The opportunity to join forces with Reagan and tap into the additional resources that he’s developed was a game changer,” Lubbers said. “We are excited to work with other like-minded advisors, and we believe there will be synergies as we leverage resources between both firms.”
Wagner agreed, stating, “NFA’s mission is to help advisors reach their vision of financial success. Our mission aligns with Chris and his team. We believe the affiliation together will have direct impact on our mutual growth and ability to serve our mission. We are thankful Chris and his team have joined the LPL/NFA family and we look forward to serving them and helping them reach their vision of success. We believe there is value when successful firms choose to work together.”
Scott Posner, LPL Executive Vice President, Business Development, added, “On behalf of the entire LPL community, I extend a warm welcome to Chris and all of the advisors and staff at Strategic Partners, Inc. We are honored they recognized the value of partnering with LPL as they take steps to elevate their practice and create differentiated experiences for their clients. Here at LPL, we’re deeply committed to making ongoing investments in innovative technology, integrated wealth management capabilities and robust business solutions designed to help the firm and each individual advisor in their network be successful. Congratulations also to National Financial Alliance for expanding their network. We look forward to seeing the many synergies between the teams and supporting both firms for years to come.”
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About LPL Financial
LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around Today, LPL is a leader in the markets we serve**, supporting more than 21,000 financial advisors, including advisors at approximately 1,100 institution-based investment programs and at approximately 500 registered investment advisor ("RIA") firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.
*Value approximated based on asset and holding details provided to LPL from year-end 2021.
**Top RIA custodian (Cerulli Associates, 2020 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S. (Based on total revenues, Financial Planning magazine 1996-2022); among third-party providers of brokerage services to banks and credit unions, No. 1 in AUM Growth from Financial Institutions; No. 1 in Market Share of AUM from Financial Institutions; No. 1 in Market Share of Revenue from Financial Institutions; No. 1 on Financial Institution Market Share; No. 1 on Share of Advisors. (2021-2022 Kehrer Bielan Research & Consulting Annual TPM Report). Fortune 500 as of June 2021.
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Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC. Strategic Partners, Inc., National Financial Alliance and LPL Financial are separate entities.
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