LPL Financial Welcomes Cornerstone Financial Advisers
LPL Financial announced that financial advisors Lance Dumas and Darryl Carter have joined their broker-dealer, RIA, and custodial platforms. The duo, who managed approximately $225 million in advisory, brokerage, and retirement plan assets, transitioned from Cetera to LPL Financial. Based in Orange County, California, they founded Cornerstone Financial Advisers in 2017. Dumas brings 25 years of experience in financial services, and Carter has nearly 30 years of expertise in tax and wealth management services. Their team, including Office Manager Nicole Thornton, focuses on a goals-based approach to financial planning and maintaining strong client relationships. LPL Financial praised their dedication to client-centric services and independence, emphasizing the firm's commitment to providing innovative tools and resources to enhance their business operations.
- LPL Financial gains experienced advisors managing $225 million in assets.
- Lance Dumas has 25 years of experience in financial services.
- Darryl Carter has nearly 30 years in tax and wealth management.
- Cornerstone Financial Advisers emphasizes a goals-based approach to financial planning.
- LPL Financial commits to providing innovative tools and resources.
- The addition of Cornerstone strengthens LPL's advisor base.
- Transitioning advisors may face client retention challenges.
- Costs associated with integrating new advisors can impact short-term profitability.
SAN DIEGO, May 20, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Lance Dumas, AIF®, ChFC®, and Darryl Carter CPA, have joined LPL Financial’s broker-dealer, RIA and custodial platforms. They reported serving approximately
Based in Orange County, Calif., Dumas and Carter founded Cornerstone Financial Advisers in 2017 as a consulting firm dedicated to helping families, individuals and business owners establish their goals and create financial plans to pursue them. Dumas has 25 years of experience in the financial services industry, including key leadership roles at national financial institutions. Carter, who has nearly 30 years in tax and wealth management services, sold his tax practice last year to focus solely on his investment clients. They are joined by Office Manager Nicole Thornton.
“We work together with each client to help them in their journey to financial stability,” Carter said. “Our investment philosophy incorporates the potential tax implications on a portfolio, and we take a goals-based approach to building customized plans and strategies. We understand that successful financial planning is built on strong relationships. Our work revolves around guiding clients through uncertainty, establishing robust plans and managing risks to safeguard their lifestyles through retirement.”
In a dynamic financial landscape, the team’s commitment to independence, fiduciary standards and a client-centric culture led them to LPL.
“We believe in the power of independence and are unwavering in our dedication to our clients’ financial well-being,” Dumas said. “Our focus remains squarely on serving our clients' best interests, and that includes providing them with access to the latest tools and innovative technology for seamless interaction and informed decision-making. With the move to LPL, Cornerstone Financial Advisers reaffirms its commitment to these principles as we empower clients on their journey toward financial success.”
Scott Posner, LPL Executive Vice President, Business Development, said, “On behalf of the entire LPL community, we are pleased to welcome Lance and Darryl to LPL Financial. We are honored they turned to LPL to help them operate their business more efficiently and effectively, and we’re committed to helping them provide an elevated customer experience with innovative tools and resources. We wish Cornerstone Financial Advisers great success with the next chapter of their business.”
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About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that the firm should work for advisors and institutions, and not the other way around. Today, LPL is a leader in the markets we serve, serving nearly 23,000 financial advisors, including advisors at approximately 1,100 institutions and at approximately 570 registered investment advisor ("RIA") firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and institution leaders have the freedom they deserve to choose the business model, services, and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors and institutions, so they can take care of their clients.
Securities and Advisory services offered through LPL Financial LLC ("LPL Financial"), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States. Cornerstone Financial Advisers and LPL Financial are separate entities. LPL Financial does not provide tax and/or legal advice.
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.
We routinely disclose information that may be important to shareholders in the "Investor Relations" or "Press Releases" section of our website.
*Value approximated based on asset and holding details provided to LPL from end of year, 2023.
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