LPL Financial Welcomes The Bindra Group to Linsco Channel
LPL Financial (Nasdaq: LPLA) has announced that financial advisors Kultar S. 'Sid' Bindra, CFP®, and Steven Alvarez have joined LPL's employee advisor channel, Linsco by LPL Financial, to launch The Bindra Group. The team, previously with Truist Financial, reported serving approximately $300 million in advisory, brokerage and retirement plan assets.
Based in Tampa, Florida, The Bindra Group caters to high-net-worth and ultra-high-net-worth business owners and government contractors. They chose Linsco for its blend of independence and support, including access to LPL's integrated wealth management platform and business resources. The move allows them to own their client relationships and operate their practice with more flexibility.
LPL Financial (Nasdaq: LPLA) ha annunciato che i consulenti finanziari Kultar S. 'Sid' Bindra, CFP® e Steven Alvarez si sono uniti al canale di consulenti dipendenti di LPL, Linsco by LPL Financial, per lanciare The Bindra Group. Il team, precedentemente con Truist Financial, ha dichiarato di servire circa 300 milioni di dollari in asset di consulenza, intermediazione e piani pensionistici.
Con sede a Tampa, Florida, The Bindra Group si rivolge a imprenditori ad alto patrimonio netto e a contrattisti governativi. Hanno scelto Linsco per il suo mix di indipendenza e supporto, compreso l'accesso alla piattaforma integrata di gestione patrimoniale di LPL e alle risorse aziendali. Questa mossa consente loro di possedere le relazioni con i clienti e di gestire la propria attività con maggiore flessibilità.
LPL Financial (Nasdaq: LPLA) ha anunciado que los asesores financieros Kultar S. 'Sid' Bindra, CFP® y Steven Alvarez se han unido al canal de asesores empleados de LPL, Linsco by LPL Financial, para lanzar The Bindra Group. El equipo, anteriormente con Truist Financial, reportó que atiende aproximadamente 300 millones de dólares en activos de asesoría, corretaje y planes de jubilación.
Con sede en Tampa, Florida, The Bindra Group atiende a propietarios de negocios de alto y ultra alto patrimonio neto y contratistas gubernamentales. Eligieron Linsco por su combinación de independencia y apoyo, incluida la posibilidad de acceder a la plataforma integrada de gestión patrimonial de LPL y a los recursos comerciales. Este movimiento les permite poseer sus relaciones con los clientes y operar su práctica con mayor flexibilidad.
LPL Financial (Nasdaq: LPLA)는 재정 고문 Kultar S. 'Sid' Bindra, CFP®와 Steven Alvarez가 LPL의 직원 고문 채널인 Linsco by LPL Financial에 합류하여 The Bindra Group을 출범했다고 발표했습니다. 이 팀은 이전에 Truist Financial에 소속되어 있었으며, 약 3억 달러의 자산을 관리하고 있다고 보고했습니다 이를 통해 자산 관리, 중개 및 퇴직 계획을 포함합니다.
플로리다주 탬파에 본사를 둔 The Bindra Group은 고액 자산가 및 초고액 자산가의 사업주와 정부 계약자들을 대상으로 합니다. 그들은 LPL의 통합 자산 관리 플랫폼 및 비즈니스 리소스에 접근할 수 있는 독립성과 지원의 조합 때문에 Linsco를 선택했습니다. 이 결정은 그들이 고객 관계를 소유하고 더 많은 유연성으로 자신의 사업을 운영할 수 있게 해줍니다.
LPL Financial (Nasdaq: LPLA) a annoncé que les conseillers financiers Kultar S. 'Sid' Bindra, CFP® et Steven Alvarez ont rejoint le canal des conseillers employés de LPL, Linsco by LPL Financial, pour lancer The Bindra Group. L'équipe, auparavant chez Truist Financial, a déclaré servir environ 300 millions de dollars d'actifs en conseil, courtage et plans de retraite.
Basé à Tampa, en Floride, The Bindra Group s'adresse aux propriétaires d'entreprises à haute et très haute valeur nette ainsi qu'aux contractants gouvernementaux. Ils ont choisi Linsco pour sa combinaison d'indépendance et de soutien, y compris l'accès à la plateforme intégrée de gestion de patrimoine de LPL et aux ressources commerciales. Ce mouvement leur permet de posséder leurs relations clients et d'exercer leur pratique avec plus de flexibilité.
LPL Financial (Nasdaq: LPLA) hat bekanntgegeben, dass die Finanzberater Kultar S. 'Sid' Bindra, CFP® und Steven Alvarez dem Mitarbeiterberatungskanal von LPL, Linsco by LPL Financial, beigetreten sind, um The Bindra Group zu gründen. Das Team, das zuvor bei Truist Financial tätig war, berichtete von einem Volumen von etwa 300 Millionen US-Dollar an Beratungs-, Brokerage- und Altersvorsorgevermögen.
Based in Tampa, Florida, betreut The Bindra Group wohlhabende und sehr wohlhabende Unternehmensinhaber sowie Regierungsauftragnehmer. Sie entschieden sich für Linsco aufgrund der Mischung aus Unabhängigkeit und Unterstützung, einschließlich Zugang zur integrierten Vermögensverwaltungsplattform und den Geschäftsressourcen von LPL. Dieser Schritt ermöglicht es ihnen, ihre Kundenbeziehungen zu besitzen und ihre Praxis flexibler zu gestalten.
- Acquisition of a team managing approximately $300 million in assets
- Expansion of LPL's Linsco channel with experienced advisors
- Potential for increased revenue from new high-net-worth client base
- None.
SAN DIEGO, Sept. 16, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC, announced today that financial advisors Kultar S. “Sid” Bindra, CFP®, and Steven Alvarez have joined LPL’s employee advisor channel, Linsco by LPL Financial, to launch The Bindra Group. They reported serving approximately
Based in Tampa, Fla., Bindra’s path to wealth management started in college when he worked 56 hours a week selling phones. “I didn’t have financial aid or qualify for a grant due to my family’s pending immigration status, so I worked seven days a week to save for my education,” Bindra said. “I learned all about banking and finance at age 18 and graduated college with an 800 credit score, two degrees and zero debt. That
Upon graduating, Bindra went straight to work building his practice by using the “dial and smile” method of cold calling potential clients, networking and hosting events. Alvarez joined as a junior partner in 2022, and together they now cater to high-net-worth and ultra-high-net-worth business owners, as well as numerous government contractors. Their objective is to ensure that each client, irrespective of their account size, has a financial plan on their journey to financial wellness.
After a major reorganization at their former firm, Bindra and Alvarez decided it was in the best interests of their clients and business to have more control over how they operate. Their due diligence process led them to Linsco by LPL.
The Linsco employee advisor model helps bridge the gap between working in a wirehouse environment and being independent. Linsco serves financial advisors seeking the core tenets of independence, including owning their client relationships and having the flexibility to run their practice on their own terms. With Linsco, advisors have access to LPL’s integrated wealth management platform and robust business resources, along with the additional benefits of having support from an experienced branch management team and other dedicated consultants.
“The aspect of business ownership within an independent organization was pivotal for me,” said Bindra, a 2023 Forbes Best-in-State Next-Generation Wealth Advisor. “To have my name prominently displayed in our brand is a testament to my family’s legacy. We truly appreciate the freedom and flexibility to build a practice on our terms and take care of clients the way we see fit.”
The advisors are also eager to take advantage of LPL’s industry-leading technology and robust business resources, including a consolidated online platform, self-clearing capabilities and streamlined operations that will create office efficiencies.
“We are excited to join LPL Financial and become part of a firm that is dedicated to providing its advisors with the resources and support they need to be successful,” Alvarez said. “We look forward to evolving our practice to give clients smoother experiences and elevated services.”
Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome Sid and Steven to the Linsco community. At LPL, our focus is on helping advisors serve their clients on their own terms and build businesses with value. We look forward to supporting the business growth and success of The Bindra Group as they leverage our robust technology platform and practice management programs designed to help them evolve their business and deliver differentiated client experiences.”
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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 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.
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*Value approximated based on asset and holding details provided to LPL from end of year, 2023.
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