LPL Financial Welcomes Highland Partners
LPL Financial announced on May 30, 2024, that advisors from Highland Partners Financial Services have joined its broker-dealer, RIA, and custodial platforms. Highland Partners, led by Managing Partner G. Mark Hamby, manage over $400 million in advisory, brokerage, and retirement plan assets. They transitioned from Momentum Independent Network, a Hilltop Holdings subsidiary. The team includes experienced advisors from Virginia, Pennsylvania, and New Jersey, focusing on investment strategies and holistic financial planning. Hamby emphasized the entrepreneurial and independent spirit fostered at Highland Partners, which aligns with LPL's cutting-edge technology and commitment to individual investors. Scott Posner, LPL's Executive Vice President, welcomed the team and reiterated LPL's dedication to supporting advisors' growth and success.
- Highland Partners manages over $400 million in assets, boosting LPL Financial's portfolio.
- Highland Partners team brings over 30 years of industry experience, enhancing LPL's expertise.
- LPL's technology and market reach were key factors in Highland Partners' decision, highlighting LPL's industry leadership.
- LPL supports nearly 23,000 financial advisors, indicating strong market presence and stability.
- LPL's platform promises to cut down busy work, improving efficiency and client service for Highland Partners.
- Transitioning advisors from another network could face integration challenges and initial disruptions.
- The press release lacks specific financial terms regarding the acquisition, leaving some investor questions unanswered.
SAN DIEGO, May 30, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that advisors with Highland Partners Financial Services, which is led by Managing Partner G. Mark Hamby, have joined LPL Financial’s broker-dealer, RIA and custodial platforms. They reported serving more than
Based in Glen Allen, Va., in the greater Richmond area, Hamby has more than 30 years of experience in the financial services industry and is known for fostering an entrepreneurial spirit. He founded Highland Partners in 2019 to offer a comfortable environment for like-minded advisors to follow the path of independence in serving their clients’ best interests. Highland Partners currently supports financial advisors J. Michael Duke, Thomas R. Kirby, Simon M. Joseph and Elaine B. Miller in Virginia, Bernard R.Theis in Pennsylvania and Lawrence Karpf, Jean E. Albanese and Patricia E. Donelan in New Jersey, each running individual practices focused on providing families, business owners and executives with investment strategies and holistic financial planning.
“At Highland Partners, we understand why so many practice owners are seeking independence but are hesitant to follow their heart,” said Hamby. “That's why we have created a custom partnership that delivers the control of independence with the comfort of a turnkey employee atmosphere. We find this gives advisors an easier path to put the needs of their clients first.”
In their continual effort to improve the products, services and technology for clients, the Highland team conducted an extensive due diligence process to find a new wealth management partner.
“It quickly became clear that LPL’s market reach, award-winning technology and commitment to the individual investor experience made them the obvious choice,” Hamby said. “LPL is widely known as an industry leader that can keep pace with clients’ needs not just today, but well into the future. We wanted simplicity and ease of doing business, and LPL does a good job of lifting our brand and providing innovative resources that will cut down on some of the busy work. This will allow us to raise the level of service and create differentiated experiences for our advisors and clients.”
Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome Mark and the Highland Partners team to the LPL community, and we look forward to supporting their continued growth and success for years to come. At LPL, we remain steadfast in our commitment to being a long-term partner by delivering a sophisticated wealth management platform and robust business tools designed to help advisors differentiate their practice and be successful serving the needs of their clients.”
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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. Highland Partners and LPL Financial 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.
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