LPL Financial and Perennial Financial Services Welcome Eddie Chan

Rhea-AI Summary

LPL Financial (Nasdaq: LPLA) announced that financial advisor Eddie Chan has joined its broker-dealer and custodial platforms, affiliating with Perennial Financial Services. Chan manages approximately $110 million in advisory, brokerage, and retirement plan assets, previously serving at Ameriprise Financial. He aims to leverage LPL's tools and resources for personalized client service. Perennial's leadership expressed enthusiasm about Chan's experience, anticipating growth and high-level service for his clientele. LPL continues to support over 20,000 advisors, emphasizing its advisor-centered model.

Positive

• Eddie Chan brings approximately $110 million in advisory assets to LPL.
• LPL's versatile investment tools and open-architecture technology attract new advisors.
• Partnership with Perennial Financial Services offers additional support and resources for Chan.

Negative

• None.

CHARLOTTE, N.C., July 28, 2022 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq:LPLA) announced today that financial advisor Eddie Chan has joined LPL Financial’s broker-dealer, RIA and custodial platforms, affiliating with Perennial Financial Services, an existing firm supporting LPL-affiliated advisors. Chan reported having served approximately $110 million in advisory, brokerage and retirement plan assets,* and joins LPL from Ameriprise Financial.

Chan first showed an affinity for finances when he experienced Black Monday in October of 1987. Motivated to help clients enhance their financial literacy and manage their full financial picture, Chan launched his career 30 years ago. He believes in a holistic and process-driven approach to financial planning and investing, and has established a comprehensive understanding of his clients’ finances and relies on his standardized processes to help them.

Chan will be based in Los Angeles, Calif., serving a diverse mix of clients from young professionals to retirees. He values maintaining close relationships with his clients to fully understand their unique financial needs and goals. Whether his clients seek to achieve financial stability, accumulate wealth or build a legacy, Chan outlines and executes their personalized financial roadmaps.

Why Chan chose LPL Financial

“When choosing a firm to affiliate with, I was essentially looking for true independence — the ability to craft the practice and client experience I envision. With its versatile investment tools and innovative open-architecture technology, LPL stood out as a top choice. LPL’s bespoke services and Perennial’s in-house support will empower me to run my business efficiently while transforming the client experience,” Chan said, emphasizing his intention to take advantage of LPL’s extensive suite of solutions. “With this move, I am eager to create added value for my clients and partner with the network of like-minded advisors at Perennial to expand my business — something I wasn’t able to do until I joined LPL.”

John Petrick, senior managing director at Perennial Financial Services, stated, “It’s an honor and a privilege to welcome Eddie to our expanding family of advisors here at Perennial. Eddie brings over 30 years of financial services experience as well as an independent and entrepreneurial spirit that perfectly aligns with our core principles and ideals. We look forward to partnering with Eddie and helping him continue to grow his practice while delivering a high level of service his clients deserve and have come to expect.”

Scott Posner, LPL executive vice president, Business Development, stated, “We welcome Eddie to the LPL community and congratulate him on this new chapter in his career. Everything we do at LPL revolves around our advisors and their success — we are here to help them expand and grow. With LPL, financial professionals are equipped with dedicated support teams and an integrated technology stack that allow them to run a high-performing practice, maintain operational efficiency and focus on their clients. We look forward to a lasting partnership with the entire team at Perennial Financial Services.”

Related

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 (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 over 20,000 financial advisors, and approximately 1,000 institution-based investment programs and approximately 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.

*Value approximated based on asset and holding details provided to LPL from year 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 1996-2021); 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.

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

Perennial Financial Services advisors offer Investment Advice through Perennial Investment Advisors, a registered investment advisor.

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.

Perennial Financial Services, Perennial Investment Advisors and LPL Financial are separate entities.

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FAQ

What assets does Eddie Chan manage after joining LPL Financial?

Eddie Chan manages approximately $110 million in advisory, brokerage, and retirement plan assets.

Why did Eddie Chan choose to join LPL Financial?

Eddie Chan selected LPL for its independence, versatile investment tools, and innovative technology.

With which firm is Eddie Chan affiliated at LPL Financial?

Eddie Chan is affiliated with Perennial Financial Services.

What is the primary focus of LPL Financial's business model?

LPL Financial's business model centers around supporting financial advisors and their independence.

When did Eddie Chan announce his affiliation with LPL Financial?

Eddie Chan announced his affiliation with LPL Financial on July 28, 2022.