LPL Financial Welcomes Foran Financial Group
On February 17, 2021, LPL Financial (LPLA) announced the return of Foran Financial Group, which has approximately $350 million in advisory and brokerage assets. The advisors, who previously worked with Raymond James Financial, sought the flexibility and resources LPL provides, including advanced technology and a wide range of products. The team, led by Dan Foran, focuses on family values and financial education, offering comprehensive wealth and retirement planning services. LPL's commitment to advisor-centric business models played a significant role in the team's decision to return.
- Foran Financial Group returns, managing $350 million in assets.
- LPL Financial's advisory-centric model attracts experienced advisors.
- Enhanced technology and product access could improve client services.
- None.
CHARLOTTE, N.C., Feb. 17, 2021 (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 Foran Financial Group has returned to LPL Financial, leveraging its broker-dealer and corporate RIA platforms, including custodial services. The team reported having served approximately
President and Founder Dan Foran, CFP®, CFS® was drawn to the industry in 1980 when he saw his mother, Monica Foran, struggle to manage the family’s finances after his father passed away. At the time, the financial advisors that she spoke with mostly offered product-based solutions. Dan took it upon himself to help her navigate the complexities of their estate, recognizing a need for advisory services to bring the most value to clients. That experience led to his career as a financial advisor, and he later founded Foran Financial Group in Somerville, N.J.
Dan’s children, John Foran, CFP®, AIF®, CFS® and Jessica Weaver, CFP®, CFS® spent summers working in the office as teenagers, and they joined the firm as financial advisors in 2010, providing continuity for the firm’s clients across multiple generations. Dan now also serves as branch manager for financial advisors Brian Sweatt, Mark Walters and David Selden. The team is also supported by Operations Manager Jennifer Roberto and Client Service Manager Diane Zychlinski.
The full-service firm provides wealth planning, retirement planning and investment management services. They take an approach that centers around family values and financial education. John Foran is an Accredited Investment Fiduciary who leads the team’s investment group. He also obtained the Chartered Special Needs Consultant designation to help families with special needs children. Jessica Weaver who obtained her Certified Divorce Financial Analyst has embraced working with women investors, many who are going through major life transitions, like that of her grandmother, in hopes of helping them come out stronger and more independent financially. She heads the women’s initiatives for the firm. Both John and Jessica are driven by the desire to help clients and their families.
Returning to LPL
Seeking more freedom and flexibility in how they run their business, the team chose to return to LPL. “We’ve been watching closely since Dan Arnold took over as President and CEO,” said Dan Foran, who was previously affiliated with LPL for 17 years until 2014. “We’ve seen how the company has transformed into an advisor-centric, advice-driven firm. LPL is an advocate for the advisor and is clearly in the business of helping advisors do the best job for their clients.”
The advisors also said LPL’s scale creates access to a broad range of products and wealth management resources that can enhance their delivery of personalized advice. In addition, LPL’s technology stood out to the advisor team. “We felt the direction that LPL is heading, with the open architecture within ClientWorks and the ability to use other software and tools, will greatly enhance our client experience and the way we deliver advice,” Foran said, pointing to the integration with AdvicePay as an example of how LPL makes it easier for advisors to charge for financial planning. “We intend to stay at the forefront of what’s going on in the industry, and we appreciate how LPL allows for more freedom in the services that we use and how we serve our clients.”
Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, said, “We warmly welcome Dan and his team back to the LPL family. We understand that every client is unique. By providing our financial advisors with access to a broad range of non-proprietary products and investment platforms, we strive to empower them in their delivery of personalized investment strategies. We also offer choice and flexibility in how they run their businesses, and we will meet advisors where they are in the evolution of their practice to provide them with differentiated tools and technology to help them deliver meaningful, customized services to their clients. We look forward to renewing our long-term partnership with Foran Financial Group.”
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, the nation’s largest independent broker-dealer** and a leading custodian (or provider of custodial services) to RIAs. 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.
*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.
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.
Foran Financial Group and LPL Financial are separate entities. LPL Financial and AdvicePay are not affiliated.
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