LPL Financial Welcomes Frontline Investment Advisors
Rhea-AI Summary
LPL Financial (Nasdaq: LPLA) announced that financial advisors Amanda Miller, Devin Richard, and Jonathan Vila of Frontline Investment Advisors have joined LPL's broker-dealer, aligned with GradePoint Financial. The team, which managed approximately $550 million in assets, transitions from VALIC Financial Advisors.
Based in Tampa, Florida, the team specializes in serving frontline workers, particularly school employees, sheriff's office personnel, and medical professionals. With 50 years of combined experience, they focus on the Florida Retirement System, Deferred Retirement Option Program, and healthcare 403(b) plans market.
The move to LPL aims to provide broader investment strategies, improved processing efficiency, enhanced technology, and better client experience. LPL currently supports over 28,000 financial advisors and approximately 1,200 financial institutions, managing about $1.7 trillion in assets for 6 million clients.
Positive
- Addition of team managing $550 million in assets strengthens LPL's market position
- Expansion of specialized service offerings in retirement and healthcare sectors
- Strategic growth through acquisition of experienced advisors with 50 years combined experience
Negative
- None.
News Market Reaction
On the day this news was published, LPLA gained 1.13%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN DIEGO, Dec. 04, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Amanda Miller, Devin Richard and Jonathan Vila, CRPC®, of Frontline Investment Advisors have joined LPL Financial’s broker-dealer, aligned with existing firm GradePoint Financial. They reported having served approximately
Based in Tampa, Fla., Miller, Richard and Vila collectively have approximately 50 years of extensive experience providing comprehensive investment advice to school employees, sheriff’s office personnel and those in the medical field, all frontline workers who serve their community.
“Our mission is to serve those who serve others,” Richard said. “As a team, we’ve been in the trenches and on the frontline with clients helping them not only start their financial planning journey but navigating the waters when circumstances change and markets become volatile, as clients ultimately need guidance to make the best decisions for their individual situations.”
The advisors, who are joined by two assistants, specialize in the intrinsic details of the Florida Retirement System, Deferred Retirement Option Program and in the healthcare 403(b) plans market. While each advisor manages their own client base, they enjoy working in a collaborative environment where they can share best practices and resources to maximize the client experience.
The move to LPL followed an extensive search to find a new wealth management firm that would help the advisors propel the next phases of their business.
“After carefully evaluating our options, it was clear to us that the best choice for our clients was to reshape our business and invest in the future,” Richard said. “We found that LPL is closely aligned with our vision of continued growth and service for our clients. As independent advisors, we look forward to being able to offer a wider array of investment strategies, more efficient processing, enhanced technology and an improved client experience. We look forward to collaborating with LPL and leveraging their extensive support to drive our business forward.”
Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome Amanda, Devin and Jonathan to the LPL community and congratulate GradePoint on its continued growth. LPL is committed to providing unprecedented choice and flexibility in how advisors build their practices, along with integrated capabilities and robust business solutions designed to help them work smarter and deliver more value to clients. We look forward to supporting the continued success of the entire team at Frontline Investment Advisors for years to come.”
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About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 28,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately
Securities and advisory services offered through LPL Financial (LPL), a registered investment advisor and broker dealer, member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States. Frontline Investment Advisors, GradePoint Financial and LPL are separate entities.
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.
Media Contact:
Media.relations@LPLFinancial.com
(704) 996-1840
Tracking #665020
FAQ
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