LPL Financial Welcomes 30 Member Team Brian M. Woods Financial Services
CHARLOTTE, N.C., June 24, 2021 (GLOBE NEWSWIRE) -- LPL Financial (Nasdaq:LPLA) announced that Brian M. Woods Financial Services, managing $1.6 billion in assets, has joined its broker-dealer, RIA, and custodial platforms from Voya Financial Advisors. Founded in 1991 by Woods, the firm employs around 30 advisors. The transition has been praised by Woods for excellent support from LPL, enhancing client service through integrated technology and tools. The partnership aims to position Woods for growth and improve client experiences.
- Brian M. Woods Financial Services adds $1.6 billion in assets under management to LPL.
- Positive feedback on the transition experience from Woods indicates strong support from LPL.
- Access to integrated technology will likely enhance client services and advisor efficiency.
- The partnership opens new recruitment and growth opportunities for Woods Financial Services.
- None.
CHARLOTTE, N.C., June 24, 2021 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq:LPLA) today announced that Brian M. Woods Financial Services, a large enterprise supervising approximately 30 financial advisors, has joined LPL Financial’s broker-dealer, corporate registered investment advisor (RIA) and custodial platforms. Collectively, the advisors reported having served approximately
Based in Danvers, Mass., the full-service financial firm was founded in 1991 by Brian Woods, who followed his father’s footsteps into the industry, starting in insurance before moving into investment advice and wealth management. Today, Woods personally works with more than 500* clients to help them pursue their financial goals and retirement needs. He built the business from the ground up with assistance from his wife, Bonnie, and he now also serves as the Office of Supervisory Jurisdiction (OSJ) of 30 financial advisors, including North Pointe Wealth Management and other teams throughout the region.
After their former firm was acquired, Woods and the advisors recognized the need to find a new partner. “It was my due diligence and responsibility to find the best place for everybody to land, and LPL stood out as a partner that would put the interests of our clients and advisors first. It’s a place where we can dig in and do business with ease,” said Woods, noting that the team has been moving to LPL in waves since the beginning of May. “The transition experience alone has been excellent. It was such a pleasant experience and the folks at LPL went above and beyond, delivering on everything we expected. It’s clear that LPL has made it a priority to take care of advisors by offering comprehensive service and support.”
With the new partnership with LPL, Woods and the advisors believe their clients will receive differentiated experiences and enhanced client services. “We believe LPL’s integrated capabilities will allow us to be more efficient, freeing up a significant amount of time for advisors to spend more time serving clients or growing their business,” Woods said. “We also now have access to streamlined, user-friendly client technology that makes it easy for clients to access their account information or sign documents electronically.”
Woods believes the move to LPL will also increase his value proposition as the team prepares for future growth. “With extensive offerings on the advisory platform, access to multiple financial planning tools and the protection for my advisors through succession planning, we believe there are significant opportunities to recruit more advisors to our team,” Woods said, also noting that LPL’s vast network of advisors also provides additional growth opportunities through acquiring practices of retiring advisors. “I am so excited about the next chapter of our business and what the future holds.”
Ken Hullings, LPL Financial senior vice president and head of enterprise recruiting, said, “We extend a warm welcome to Brian and the entire team at Brian M. Woods Financial Services. It has been a pleasure working with this group of financial professionals who are deeply committed to putting their clients’ needs first. We are honored they recognized the value of partnering with LPL as they take steps to elevate their practice and create differentiated experiences for their clients. We are committed to making ongoing investments in integrated technology, wealth management resources and robust business solutions that can help the firm and each individual advisor in their network be successful. We look forward to supporting the entire Woods team 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 18,000 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 June 1996-2020); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report)
*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.
Brian M. Woods Financial Services, North Pointe Wealth Management and LPL Financial are separate entities.
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