LPL Financial and Merit Financial Group Welcome Reason Financial

Rhea-AI Summary

LPL Financial has welcomed Reason Financial to its broker-dealer and hybrid RIA platform, in partnership with Merit Financial Group. Reason Financial, based in San Diego, manages over $200 million in brokerage, advisory, and retirement plan assets. The team, founded by experienced financial professionals, aims to enhance their client services through LPL's technology and support. The collaboration is expected to bring added value to their clients and foster a supportive network among independent advisors.

Positive

• Reason Financial brings over $200 million in assets to LPL, enhancing its financial advisory network.
• The partnership with LPL and Merit provides advanced technology and support for operational efficiency.
• Access to a large network of independent advisors will improve best practices and client service.

Negative

• None.

CHARLOTTE, N.C., Oct. 05, 2020 (GLOBE NEWSWIRE) -- LPL Financial LLC, a leading retail investment advisory firm, independent broker-dealer and registered investment advisor (RIA) custodian, today announced that Reason Financial has joined LPL Financial’s broker-dealer and hybrid RIA platform, leveraging LPL as a custodian. They are affiliated with Merit Financial Group, an existing LPL enterprise firm. The team reported having served more than $200 million in brokerage, advisory and retirement plan assets*. They are the second team join Merit from Avantax Wealth Management, part of Blucora.

The San Diego-based team of experienced financial and tax planners was founded by Steve Pollock, CFP^®, AIF^® and Sean Storck, CFP^®, AIF^®, both also Enrolled Agents. They are assisted by five team members, including tax strategists and financial planners. Reason Financial provides investment management, financial planning and tax preparation services for individuals and households, with a client base of mostly business owners, doctors, teachers, engineers and technical writers. “We are driven by a desire to help people make meaningful life decisions to live life as intentionally as possible,” Pollock said.

Why They Chose LPL Financial and Merit Financial Group
Pollock, Storck and the Reason team chose to partner with Merit and LPL to be able to run an independent firm focused on their clients’ best interests. They said they were impressed by the integrated technology and depth of differentiated solutions provided by both firms. “The move to Merit and LPL is a win for all our stakeholders,” Storck said. “We feel LPL’s robust and flexible wealth management platform will be a large value-add for our clients. For our staff, the advanced financial technology solutions and consistent back office support will help make the day-to-day tasks much simpler.”

Pollock added, “We now have access to a large network of independent financial advisors throughout the country who can share best practices and can challenge us as we strive to be better at what we do each day. We look forward to building a community with other like-minded, successful advisors dedicated to putting the client first.”

Merit President Kay Lynn Mayhue, said, “We welcome the Reason team to Merit Financial Group and look forward to a long-lasting partnership with this talented group. We are very impressed with all that Reason Financial has accomplished over the years, and we believe they have a bright future ahead of them. As a fast-growing RIA firm with over 80 seasoned team members, Merit is proud to be able to share our experience and support with advisors so they can be successful in their own growth journey. Our goal is to give Reason Financial autonomy and control while providing them unmatched support to drive their growth.”

“We welcome Steve and Sean to the LPL family and congratulate Merit on growing its RIA business,” said Rich Steinmeier, LPL Financial managing director and divisional president, Business Development. “Steve, Sean and team were looking for a partner that offered stability and a commitment to their success. At LPL, we are proud to be able to serve in this role for our advisors. We value the unique goals of each advisor, and we leverage our size and scale to make it possible for them to realize their goals. By making ongoing investments in technology, service, wealth management resources and business solutions, we can help our advisors run efficient and productive practices, in whatever way they think brings their clients and business the most value. We look forward to being a partner to the Reason Financial team for many years to come.”

Read about other firms that recently joined LPL in the LPL Financial News and Media section of LPL.com.

Advisors, find an LPL business development representative near you.

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 Merit Financial Group
Merit Financial Group, an SEC Registered Investment Advisor with 16 offices, manages over $4.1 billion in assets of which $2.5 billion are advisory assets and $1.6 billion are brokerage assets as of June 30, 2020. Merit is a pioneer among RIA firms. Merit exists to provide community for Independent Advisor Partners through meaningful relationships, expanded capabilities and synergies needed to catapult growth. Merit has grown to 8 independent advisor firms with over 120 employees in 16 different offices.

Securities and Advisory Services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC. Additional Investment advice offered through Merit Financial Group LLC, and SEC registered investment advisor.

Reason Financial, Merit Financial Group and LPL Financial are separate entities. Tax related services offered through Reason Financial. LPL Financial does not offer Tax related services.

*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 is the significance of Reason Financial joining LPL Financial?

Reason Financial joins LPL Financial to leverage advanced technology and support, managing over $200 million in assets.

When did Reason Financial announce its partnership with LPL Financial?

The partnership was announced on October 5, 2020.

How will the partnership with LPL Financial benefit Reason Financial's clients?

Clients will benefit from improved technology, a wider network of advisors, and enhanced operational support.

What assets did Reason Financial manage before joining LPL?

Reason Financial managed over $200 million in brokerage, advisory, and retirement plan assets.

Who are the founders of Reason Financial?

Reason Financial was founded by Steve Pollock and Sean Storck, both experienced financial and tax planners.