Beltway Wealth Management Joins Linsco by LPL Financial

Rhea-AI Summary

LPL Financial (Nasdaq: LPLA) announced the affiliation of financial advisor Gary Edmonds and business management associate Andy Chang with Linsco by LPL Financial. The team, servicing approximately $360 million in advisory assets, joins from UBS Financial Services. Their move aims to enhance client services through increased independence and access to innovative technology. The Linsco model provides comprehensive support, enabling advisors to focus on client relationships while utilizing LPL's integrated wealth management platforms.

Positive

• Affiliation of advisors resulted in approximately $360 million in advisory assets.
• Enhanced independence and ownership of practice for advisors.
• Access to innovative technology and robust digital platforms for improved client service.

Negative

• None.

CHARLOTTE, N.C., April 06, 2022 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq:LPLA) announced today that financial advisor Gary Edmonds and business management associate Andy Chang have joined LPL, affiliating with Linsco by LPL Financial, the firm’s employee advisor model. They reported having served approximately $360 million in advisory, brokerage and retirement plan assets,* and join LPL from UBS Financial Services.

Based in Washington, D.C., Beltway Wealth Management by LPL Financial serves a variety of clients, including high-net-worth individuals, corporations, non-profits, corporate executives, small business owners and more. The team specializes in investment and wealth building strategies and utilizes a systematic and planning-based approach to client portfolio management. Together, the financial professionals share more than 40 years of collective experience.

As they began looking for a new partner to help them elevate client services, the team turned to LPL for its next chapter. “We strategically made this move to gain more independence and ownership of our practice and, in turn, be more strongly positioned to offer additional services to our clients,” said Edmonds, who graduated from Columbia University in New York City and was a four-year member of the university’s football team. “We spoke with several firms, but LPL’s innovative technology and robust digital platforms stood out, and we’re confident that these resources will allow us to provide a differentiated client experience.”

“We believe the Linsco model is a perfect fit for our team, as it allows us to make decisions on how to best run our practice without worrying about the operations side of things,” said Chang, who emigrated from Taiwan in 1986 and joined the financial services industry after witnessing his own parents’ financial struggles. “This is a relationship business – many of our clients have been with us for many years and count on us – and that’s what we want to concentrate on. We love what we do, and we care deeply for our clients and their success. Joining LPL and tapping into its established platforms, services and offerings gives us the freedom to do what we do best: focus on our clients.”

Linsco advisors receive comprehensive support, including holistic transition services, hands-on marketing support, administrative support, access to experienced branch managers and more. Advisors are also equipped with LPL’s integrated wealth management platform and innovative resources – all while maintaining their own brand. The Beltway team believes the move to LPL will support not only their evolving business, but also their growing client base.

Scott Posner, LPL executive vice president, Business Development, said, “We’re thrilled to welcome Gary and Andy to the LPL community. We are committed to supporting them with innovative business solutions and integrated capabilities that provide them with choice and flexibility in how they manage and grow their business. While Linsco advisors enjoy all the benefits of being an LPL employee, they also have autonomy to manage their practice on their own terms. We look forward to a long-lasting relationship with Beltway Wealth Management by LPL Financial and wish them great success in the years to come.”

Related

Inside the Linsco by LPL Financial Model

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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 nearly 20,000 financial advisors, and approximately 800 institution-based investment programs and 500 independent 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.

**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 1996-2021); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 Company as of June 2021. LPL and its affiliated companies provide financial services only from the United States.

*Value approximated based on asset and holding details provided to LPL from the year 2021

Securities and advisory services offered through LPL Financial LLC, an SEC-registered broker-dealer and investment advisor. Member FINRA/SIPC.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial LLC. We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

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FAQ

What happened on April 6, 2022, regarding LPL Financial (LPLA)?

On April 6, 2022, LPL Financial announced the affiliation of financial advisor Gary Edmonds and business management associate Andy Chang, bringing approximately $360 million in advisory assets with them.

How much advisory assets did the new advisors bring to LPL Financial?

Gary Edmonds and Andy Chang brought approximately $360 million in advisory assets to LPL Financial.

Why did Gary Edmonds and Andy Chang join LPL Financial?

They joined LPL Financial to gain more independence, enhance client services, and utilize LPL's innovative technology and robust digital platforms.

Which firm did Gary Edmonds and Andy Chang join LPL Financial from?

They joined LPL Financial from UBS Financial Services.

What kind of support does Linsco provide to its advisors at LPL Financial?

Linsco provides comprehensive support, including transition services, marketing support, administrative assistance, and access to experienced branch managers.