LPL Financial and Financial Advocates Welcome Advisors T. Scott Dudley and David McQuade

Rhea-AI Summary

LPL Financial (Nasdaq: LPLA) announced the onboarding of financial advisors Scott Dudley and David McQuade to its broker-dealer and registered investment advisor platforms. The duo, previously with Northwestern Mutual, brings around $200 million in brokerage and advisory assets. They have launched Stirling Financial Group in a new office in San Diego's Symphony Tower, aiming to enhance client services through improved technology and compliance support. Financial Advocates, their partner, will assist in establishing their independent practice.

Positive

• Addition of advisors Scott Dudley and David McQuade brings approximately $200 million in assets.
• Launch of Stirling Financial Group in a significantly larger office space.
• Enhanced operational efficiency with integrated technology reducing task times from 10-15 minutes to 2 minutes.
• Improved client account management and services due to better online portals and compliance support.

Negative

• None.

SAN DIEGO, Aug. 06, 2020 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq:LPLA), a leading retail investment advisory firm, independent broker-dealer and registered investment advisor (RIA) custodian, today announced that financial advisors Scott Dudley and David McQuade have joined LPL Financial’s broker-dealer and corporate registered investment advisor (RIA) platforms, leveraging LPL as custodian. They aligned with Financial Advocates, a leading provider of concierge-level services to independent advisors in the Pacific Northwest. The advisors reported having served approximately $200 million in brokerage and advisory assets*. They join from Northwestern Mutual.

Dudley and McQuade provided wealth management services at their former firm for about 25 years before choosing to partner with Financial Advocates and LPL Financial. Now based in a new office space in San Diego’s Symphony Tower, the team has launched a new brand, Stirling Financial Group. The advisors are assisted by three office support members.

“This change allows us to serve our clients with more robust investment strategies at a lower cost,” Dudley said. “LPL’s integrated technology allows us to operate much more efficiently; some tasks that once took 10 to15 minutes now take only two minutes. The online account portal and client statements are greatly improved and create an enhanced experience for our clients. We also benefit from an extra layer of compliance support and concierge service from Financial Advocates.”

Angela Vlach, President and CEO of Financial Advocates, said, “We welcome Scott, David and their entire team to the Financial Advocates family. We are proud to be their partner and look forward to supporting their independent practice for years to come. Our team has extensive experience transitioning advisors across the spectrum of independent business models. Each firm is unique, and we will work with Scott and David to create an independent business that fits their needs.”

Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, said, “We welcome the team at Stirling Financial Group and congratulate Financial Advocates on growing its advisor community. It is exciting to see the Stirling team eager to continue their momentum, having already opened a new office space three times larger than their former location. We stand behind them as their partner, providing the service, technology and resources that can help them reach their growth goals. LPL advisors can count on us to continuously invest in the business and support their independent practice. We congratulate Scott and David on taking this important step for their business and look forward to supporting their practice for years to come.”

Read more on Stirling Financial Group. Also, read about other firms that recently joined LPL in the LPL Financial News and Media section of LPL.com.

About LPL Financial
LPL Financial (https://www.lpl.com) is a leader in the retail financial advice market and the nation’s largest independent broker-dealer**. We serve independent financial advisors, professionals, and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.

About Financial Advocates
Financial Advocates, LLC (FA) and their Hybrid RIA, Financial Advocates Investment Management (FAIM), provide servant leadership in the financial advice market and serves as a financial advisor’s primary ally through the transition, growth, and ongoing management of an independent practice. FA’s experienced and diverse staff delivers intensive support to advisors as they transition to an Independent Broker-Dealer, a Hybrid RIA, or pure RIA model to achieve greater independence. Advisors then enjoy concierge-level service in business development, regulatory compliance oversight, operations, IT, marketing and investment management. Financial Advocates and Financial Advocates Investment Management provide services to more than 200 independent financial advisors, several banks and credit unions, and more than 100 support staff. Financial Advocates, Financial Advocates Investment Management, and its affiliates have 28 home office employees with office locations in Olympia, WA and Tacoma, WA. For more information, please visit www.financialadvocates.com.

Securities services offered through LPL Financial, a registered investment advisor. Member FINRA / SIPC.  Financial Planning and Investment advice offered through Financial Advocates Investment Management, a registered investment advisor. Stirling Financial Group, Financial Advocates Investment Management, Financial Advocates and LPL are separate entities.

*Based on prior business and represents assets that would have been custodied at LPL Financial, rather than third-party custodians. Reported assets and client numbers have not been independently and fully verified by LPL Financial.

**Based on total revenues, Financial Planning magazine June 1996-2020

Throughout this communication, the terms “financial advisors” and “advisors” include registered representatives and/or investment adviser representatives affiliated with LPL Financial LLC, an SEC registered broker-dealer and investment adviser.

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Media Contact:
Lauren Hoyt-Williams
(980) 321-1232
Lauren.Hoyt-Williams@lpl.com

FAQ

What assets do the new advisors at LPLA bring?

Scott Dudley and David McQuade bring approximately $200 million in brokerage and advisory assets.

Where is Stirling Financial Group located?

Stirling Financial Group is located in San Diego's Symphony Tower.

What was the previous firm for the advisors who joined LPLA?

The advisors, Scott Dudley and David McQuade, previously worked at Northwestern Mutual.

How has LPLA improved client services for the new advisors?

LPLA offers integrated technology that enhances operational efficiency and improves client account management.