LPL Financial Welcomes Pacstar Financial Group
LPL Financial announced the addition of Alan Kodama and the Pacstar Financial Group, managing approximately $420 million in assets. The team transitioned from Ameriprise Financial to leverage LPL's resources and technology, enhancing client services. Established in 1987, Kodama's practice has grown into a multi-office firm in Hawaii. The decision to join LPL stemmed from extensive due diligence focused on client benefits and service improvement. LPL aims to provide the necessary support to help the Pacstar team build long-term value.
- Addition of a reputable financial team managing approximately $420 million in assets.
- Enhanced client services and investment options through LPL's resources and technology.
- None.
CHARLOTTE, N.C., July 12, 2021 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisor Alan Kodama and the team at Pacstar Financial Group has joined LPL Financial’s broker-dealer, corporate registered investment advisor (RIA) and custodial platforms. The team reported having served approximately
Kodama launched the Honolulu-based practice in 1987, immediately after graduating from college. In the early days, Kodama was a solo practitioner who relied on cold calling and seminars to generate client leads. Over the years, he purchased seven practices and the business flourished into a full-service, multi-office financial firm.
With additional registered offices in Kauai, Pearl City and Maui, Pacstar Financial Group also includes fellow advisors Thomas Lodico, John Araki and Rose Antonio, along with four office support members. The team is committed to delivering personalized financial advice with a focus on retirement planning, insurance and investments.
After extensive due diligence, which included interviewing five firms over two years and attending numerous advisor conferences, Kodama and team chose to move the business to LPL. “Ultimately, it came down to what was best for our clients. They are No. 1 in my book. With LPL, we believe we will be able to offer additional resources and investment options to clients at lower costs. Additionally, LPL’s integrated technology is helping our team provide enhanced services to clients,” Kodama said, also acknowledging that LPL’s west coast home office presence is another added bonus.
Scott Posner, LPL executive vice president, Business Development, stated, “We welcome Alan, Thomas, John and Rose to the LPL community and are honored to be their chosen partner. With our size and scale, LPL is able to offer a breadth and depth of innovative capabilities and resources that empower independent advisors to differentiate their practices and be successful serving the evolving needs of their clients. We look forward to providing the support and service that the entire Pacstar team needs to help build long-term value with clients and continue winning in the marketplace.”
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 (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader** in the markets we serve, supporting more than 18,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to objective guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.
** Top RIA custodian (Cerulli Associates, 2019 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S (Based on total revenues, Financial Planning magazine June 1996-2020); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 as of June 2021
*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.
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.
Pacstar Financial Group and LPL Financial are separate entities.
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Media Contact:
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FAQ
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