LPL Financial Welcomes SoundWay Financial
LPL Financial has announced that SoundWay Financial has joined its broker-dealer, RIA, and custodial platforms, aligning with existing firm Balmville Wealth Group (BWG). The SoundWay team, led by senior advisors Richard Belanger, Hons Yu, CFP®, and Michael Belanger, serves approximately $180 million in advisory, brokerage, and retirement plan assets. They have moved from Cetera to LPL Financial, seeking to elevate their practice and work more cohesively as a team.
The move to LPL Financial and BWG is expected to provide SoundWay with more control over their practice, localized support, and additional resources. This transition aligns with LPL's commitment to supporting advisors' ability to meet client expectations for differentiated experiences and access to sophisticated wealth management solutions.
LPL Financial ha annunciato che SoundWay Financial si è unito alle sue piattaforme di broker-dealer, RIA e custodia, in linea con la società esistente Balmville Wealth Group (BWG). Il team di SoundWay, guidato dai consulenti senior Richard Belanger, Hons Yu, CFP®, e Michael Belanger, gestisce circa 180 milioni di dollari in asset di consulenza, intermediazione e piani pensionistici. Sono passati da Cetera a LPL Financial, cercando di elevare la propria pratica e lavorare in modo più coeso come team.
Il passaggio a LPL Financial e a BWG dovrebbe fornire a SoundWay un maggiore controllo sulla propria attività, supporto localizzato e risorse aggiuntive. Questa transizione si allinea con l'impegno di LPL nel supportare la capacità dei consulenti di soddisfare le aspettative dei clienti per esperienze differenziate e accesso a soluzioni sofisticate di gestione patrimoniale.
LPL Financial ha anunciado que SoundWay Financial se ha unido a sus plataformas de broker-dealer, RIA y custodia, alineándose con la firma existente Balmville Wealth Group (BWG). El equipo de SoundWay, liderado por los asesores séniores Richard Belanger, Hons Yu, CFP® y Michael Belanger, gestiona aproximadamente 180 millones de dólares en activos de asesoría, corretaje y planes de jubilación. Se han trasladado de Cetera a LPL Financial, buscando elevar su práctica y trabajar de manera más cohesiva como equipo.
El traslado a LPL Financial y BWG se espera que proporcione a SoundWay un mayor control sobre su práctica, soporte localizado y recursos adicionales. Esta transición se alinea con el compromiso de LPL de apoyar la capacidad de los asesores para cumplir con las expectativas de los clientes en cuanto a experiencias diferenciadas y acceso a soluciones sofisticadas de gestión de patrimonio.
LPL 금융은 사운드웨이 금융이 자사의 중개인, RIA 및 수탁 플랫폼에 합류했으며, 기존의 벌름빌 자산 그룹(BWG)과 맞물린다고 발표했습니다. 리처드 벨랑저, 혼스 유(CFP®), 마이클 벨랑저가 이끄는 사운드웨이 팀은 약 1억 8천만 달러의 자문, 중개 및 퇴직 계획 자산을 관리합니다. 이들은 세테라에서 LPL 금융으로 옮기며, 자신의 실무를 발전시키고 팀으로서 더 유기적으로 협력할 수 있기를 희망하고 있습니다.
LPL 금융과 BWG로의 이사는 사운드웨이에 실무에 대한 더 많은 통제, 지역 지원 및 추가 자원을 제공할 것으로 기대됩니다. 이 전환은 클라이언트의 기대에 부응하여 차별화된 경험과 정교한 자산 관리 솔루션에 대한 접근을 지원하려는 LPL의 약속과 일치합니다.
LPL Financial a annoncé que SoundWay Financial a rejoint ses plateformes de courtage, RIA et de conservation, en s'alignant avec la société existante Balmville Wealth Group (BWG). L'équipe de SoundWay, dirigée par les conseillers seniors Richard Belanger, Hons Yu, CFP® et Michael Belanger, gère environ 180 millions de dollars d'actifs en conseil, courtage et plans de retraite. Ils ont quitté Cetera pour LPL Financial, cherchant à élever leur pratique et à travailler de manière plus cohérente en équipe.
Le passage à LPL Financial et à BWG devrait permettre à SoundWay d'avoir un meilleur contrôle sur sa pratique, un soutien localisé et des ressources supplémentaires. Cette transition s'aligne avec l'engagement de LPL à soutenir la capacité des conseillers à répondre aux attentes des clients en matière d'expériences différenciées et d'accès à des solutions sophistiquées de gestion de patrimoine.
LPL Financial hat bekannt gegeben, dass SoundWay Financial seinen Broker-Dealer-, RIA- und Verwahrplattformen beigetreten ist und sich mit der bestehenden Firma Balmville Wealth Group (BWG) zusammenschließt. Das Team von SoundWay, das von den erfahrenen Beratern Richard Belanger, Hons Yu, CFP® und Michael Belanger geleitet wird, verwaltet etwa 180 Millionen Dollar an Beratungs-, Brokerage- und Altersvorsorgevermögen. Sie sind von Cetera zu LPL Financial gewechselt, um ihre Praxis zu verbessern und als Team enger zusammenzuarbeiten.
Der Wechsel zu LPL Financial und BWG wird erwartet, dass er SoundWay mehr Kontrolle über ihre Praxis, lokale Unterstützung und zusätzliche Ressourcen bietet. Dieser Übergang steht im Einklang mit LPLs Engagement, Beratern zu helfen, die Erwartungen der Kunden hinsichtlich differenzierter Erfahrungen und Zugang zu anspruchsvollen Vermögensverwaltungslösungen zu erfüllen.
- SoundWay Financial brings $180 million in assets under management to LPL Financial
- LPL Financial expands its advisor network, potentially increasing revenue
- Partnership with Balmville Wealth Group may lead to synergies and growth opportunities
- None.
SAN DIEGO, Aug. 05, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors with SoundWay Financial have joined LPL Financial’s broker-dealer, RIA and custodial platforms, aligned with existing firm Balmville Wealth Group (BWG). They serve approximately
Nestled a few miles from the Long Island Sound in North Haven, Conn., the SoundWay Financial team is led by senior advisors Richard Belanger, Hons Yu, CFP®, and Michael Belanger. Rich served as a Korean linguist in the U.S. Army for 10 years before launching his wealth management practice. Hons received his economics and finance degree from the University of Connecticut and a Certificate in Financial Planning from Bryant University. Michael joined the SoundWay team with over 20 years of client service and management experience. They are supported by longtime Operations Manager and Advisor Nicara Enright-Alves and team members Luke DeRose, Thomas Wissenbach and Anthony Persampieri.
Why they made the move to LPL Financial
Recognizing the need for a new wealth management partner, the SoundWay group turned to LPL and BWG to elevate their practice and work more cohesively as a team.
“At SoundWay Financial, we offer holistic planning for a wide range of investment needs, whether that means helping a client with a retirement strategy or providing financial advice for unexpected life events,” Rich said. “We’ve found that clients benefit from a collaborative approach, and we believe LPL puts us in a better position to work in a team environment where we have more control of our practice.”
The SoundWay team will also benefit from localized support, connections and an additional layer of resources from BWG.
“I have known Rich from the day he came through training after joining the industry. From day one, he has always been one of the most hard-working, diligent, organized and professional advisors I have ever come across in my career,” said BWG Chairman and Founder Michael Vela. “We are excited to have Rich, Hons, Michael and the SoundWay team join the BWG family and look forward to helping them take their careers to the next level.”
Scott Posner, LPL Executive Vice President, Business Development, said, “We extend a warm welcome to SoundWay Financial and congratulate BWG on its continued growth. As a partner with scale, we are deeply committed to supporting each advisor’s ability to meet their clients’ expectations for differentiated experiences and access to sophisticated wealth management solutions. We support advisors in all stages of their business by delivering strategic and robust resources designed to help them create more value.”
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About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that LPL should work for advisors and institutions, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 23,000 financial advisors, including advisors at approximately 1,000 institutions and at approximately 580 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. SoundWay Financial, Balmville Wealth Group 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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FAQ
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