LPL Financial Welcomes Equitrust Financial Group
LPL Financial (Nasdaq: LPLA) announced that Equitrust Financial Group has joined its platforms, bringing approximately $800 million in assets. Founded in 1989, Equitrust operates from Deerfield, Ill., and focuses on financial education and client referrals. The team's diverse qualifications enable them to offer comprehensive financial services, including wealth management and retirement planning. The move to LPL is driven by the firm's desire for self-clearing capabilities and advanced technology to enhance operational efficiency.
- Equitrust Financial Group brings approximately $800 million in assets to LPL Financial, enhancing LPL's overall asset base.
- The move reflects LPL's strong technology capabilities, which may improve operational efficiency for Equitrust.
- None.
CHARLOTTE, N.C., Aug. 13, 2020 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq:LPLA), a leading retail investment advisory firm, independent broker-dealer and registered investment advisor (RIA) custodian, today announced that Equitrust Financial Group, Ltd. has joined LPL Financial’s broker-dealer and corporate registered investment advisor (RIA) platforms, leveraging LPL as custodian. The firm reported having served approximately
Based in Deerfield, Ill., Equitrust was founded in 1989 by financial advisors Steven Hyman CPA, PFS and Charles Noparstak, CFP®. They built the business by holding financial education seminars throughout their community, and now they exclusively rely on referrals. The team has expanded to include financial advisors Felix E. Aisen, EA, CFP®, Joshua S. Noparstak, CFP®, AIF, and Gail V. Crowley, CFP®, AIF, along with a seven-member support staff. With diverse backgrounds, education and experience, the team is able to offer a broad range of financial services. Working together, they provide wealth management, retirement income planning, employee benefits, life insurance and long-term care strategies to their multi-generational client base of individuals and small business owners.
“Over the years, we have found that a team approach can be an effective way to help clients navigate through the complexity associated with serving the many facets of their financial lives,” said Charles Noparstak. “We conduct our own research and recommend investments most appropriate for each client’s unique situation, free from proprietary products and cross-selling.”
The decision to move to LPL was twofold, Noparstak said. “We believe it’s in the best interest of our clients to work with a publicly-listed company and one with self-clearing capabilities,” he said. “In addition, as we began our research, LPL stood out for its excellence in technology and business operations. Our staff was blown away by how easy it could be to run our business; we have already seen an uptick in office efficiency simply because of something as simple as there being fewer forms to have to fill out.”
Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, said, “The Equitrust team takes pride in its independence, and we welcome the entire team to LPL’s independent family. The client relationships they have built over time have been earned through the transparency they provide in their delivery of advice, which is designed to uniquely suit each individual client. We value that approach and also believe that through a rich understanding of a client’s goals and a commitment to help them translates to a true partnership. We are honored they chose LPL as their partner to help them maximize their growth potential as they begin the next chapter of their journey. We welcome Equitrust Financial Group to LPL and look forward to a long-lasting partnership.”
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.
Securities and Advisory services offered through LPL Financial, a registered investment advisor. Member FINRA / SIPC.
Equitrust Financial Group and LPL Financial are separate entities.
*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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