LPL Financial, Gladstone Welcome Financial Advisor Francis Ciocari

Rhea-AI Summary

LPL Financial (Nasdaq: LPLA) has welcomed Francis Ciocari CFP^® as a new financial advisor, who has joined from Morgan Stanley. Ciocari brings approximately $300 million in advisory, brokerage, and retirement plan assets. He will establish a new Gladstone Wealth Partners office in Blue Bell, Pa., enhancing LPL’s hybrid registered investment advisor platform. Ciocari emphasizes high-touch, goals-based wealth management and values the autonomy and support offered by LPL and Gladstone, which he believes will benefit his clients.

Positive

• Francis Ciocari joins LPL Financial from Morgan Stanley, bringing $300 million in assets.
• The new Gladstone Wealth Partners office in Blue Bell, Pa., is expected to enhance community presence.
• Ciocari values the autonomy and client-centric approach offered by LPL and Gladstone.

Negative

• None.

CHARLOTTE, N.C., Sept. 08, 2021 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq:LPLA) announced today that financial advisor Francis Ciocari CFP^® has joined LPL Financial’s broker-dealer, hybrid registered investment advisor (RIA) and custodial platforms. He is aligned with Gladstone Wealth Partners, a large enterprise on LPL’s hybrid RIA platform. Ciocari reported having served approximately $300 million in advisory, brokerage and retirement plan assets*, and joins from Morgan Stanley.

After spending his entire career in a wirehouse environment, Ciocari will partner with existing LPL advisors to launch a new Gladstone Wealth Partners office in Blue Bell, Pa. He is joined by longtime assistant and client relationship manager Christine Buck Nolan. “I’m excited to partner with other respected advisors to provide elevated services to our clients and grow our community presence,” said Ciocari, who primarily works with corporate executives and affluent investors.

Ciocari firmly believes in high-touch, goals-based wealth management, and starts every relationship with a financial plan. While working remotely during the recent pandemic environment, he determined that the best way to serve his clients was by owning his business and firmly having control over his process. An entrepreneur at heart, Ciocari turned to Gladstone and LPL to start a new journey as an independent financial advisor. “It’s refreshing to have complete autonomy in the way we build the practice. As independent advisors, we can offer full transparency and operate in our clients’ best interests,” Ciocari said.

In choosing a new partner, Ciocari stated, “LPL is a Fortune 500 company with a great reputation, committed to investing in innovative technology and resources. I wanted my clients to feel comfortable knowing I was partnering with an industry leader and the best in the independent space. And on top of that, with Gladstone we have access to invaluable resources, turnkey support and additional help with compliance, leaving me with more time to spend supporting clients and their investments. It’s a win-win.”

Richard Frick, managing partner and CEO at Gladstone Wealth Partners, stated, “We are excited for Fran to open our new Partner office in Blue Bell, and we look forward to growing this Philadelphia suburb market together. I’ve known Fran for years and to be able to support him as he transitions to the independent channel is an awesome feeling. The momentum just continues for Gladstone and the independent space, and we believe this hybrid office environment will continue to accelerate it. We are committed to supporting our advisors every day with personalized services designed to help them succeed.”

Scott Posner, LPL executive vice president, Business Development, stated, “We warmly welcome Fran to the LPL community and congratulate Gladstone on its continued growth. At LPL, we offer a variety of affiliation models so that advisors have choices in how they build a perfect practice that makes the most sense for them and their clients. We are proud to work in partnership with Gladstone to deliver scale and stability that empowers advisors to create differentiated experiences and a thriving practice. We look forward to supporting Fran and the entire team at the new Gladstone Wealth Partners office in Blue Bell for 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 (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 19,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to objective 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, 2019 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 as of June 2021

*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.

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.

Gladstone Wealth Partners and LPL Financial are separate entities.

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

FAQ

Who is Francis Ciocari and what is his role at LPL Financial?

Francis Ciocari is a financial advisor who recently joined LPL Financial from Morgan Stanley, bringing approximately $300 million in assets.

What assets did Francis Ciocari manage before joining LPL Financial?

Before joining LPL Financial, Francis Ciocari managed approximately $300 million in advisory, brokerage, and retirement plan assets.

What is the significance of Ciocari opening a new office in Blue Bell, Pa.?

The new office enhances LPL Financial's presence in the Philadelphia suburb and allows Ciocari to partner with existing advisors.

Why did Francis Ciocari choose LPL Financial?

Ciocari chose LPL Financial for its reputation, commitment to technology, and the independence it offers advisors, allowing him to serve clients better.

What is the business model of LPL Financial?

LPL Financial operates as a broker-dealer and hybrid registered investment advisor, offering advisors the choice in how they build their practice.