LPL Financial Welcomes The Monteverde Group

Rhea-AI Summary

LPL Financial (Nasdaq: LPLA) announced that The Monteverde Group has joined its broker-dealer and investment platforms. The team of eight advisors manages approximately $440 million in assets. Founded by President and CEO Jim Monteverde, the firm specializes in wealth management, financial and retirement planning, and holistic estate tax strategies. The Monteverde Group chose LPL for its innovative technology solutions and commitment to enhancing the client experience. This partnership aims to provide better services and value to clients, highlighting LPL's role as a leader in the financial advisory market.

Positive

• The Monteverde Group brings approximately $440 million in advisory, brokerage, and retirement plan assets to LPL.
• The partnership enhances LPL's offerings and strengthens its advisory capabilities.
• LPL is recognized for providing innovative technology solutions that can improve client experiences.
• The Monteverde Group's multidisciplinary approach aligns with LPL's advisor-centered model.

Negative

• None.

CHARLOTTE, N.C., March 15, 2021 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq:LPLA) today announced that The Monteverde Group has joined LPL Financial’s broker-dealer, corporate registered investment advisor (RIA) and custodial platforms. The team of eight advisors reported having served approximately $440 million in advisory, brokerage and retirement plan assets*. They join LPL from Royal Alliance, part of the Advisor Group network of broker-dealers.

President and CEO James “Jim” Monteverde, a nationally-recognized keynote speaker and published author, founded the company 51 years ago, right out of college. What began as a solo insurance practice gradually morphed into a full-service firm with a multidisciplinary approach to wealth management, financial and retirement planning, and implementation of holistic estate tax planning strategies. Managing Partner Craig Shensa joined the firm in 2001, implementing the firm’s investment committee to manage client assets by using a teamwork approach. They are joined by fellow partners Dan Martin and Wendy Asterino. The Pittsburgh, Pa.,-based firm serves clients in several states.

“We’ve brought together experienced professionals in all of the unique areas of financial planning, and this collaborative approach to serving clients has become a differentiator in the marketplace,” said Monteverde, past president of NAIFA-Pittsburgh and the Pennsylvania Association of Insurance and Financial Advisors. “We define our role as advocates on behalf of businesses and families who require specialized financial and advisory services. We ensure that the financial and tax planning strategies we provide are based upon extensive market research, financial insight and comprehensive planning with independence and integrity.”

Looking to elevate their technology experiences, both for clients and the advisors, the team turned to LPL. “After extensive research, we decided to join LPL Financial because we believe LPL is an industry leader that is committed to providing innovative technology solutions, exemplary advisor service and state-of-the-art management programs to help advisors provide objective guidance,” Shensa said, noting that the team especially appreciates the open architecture within the ClientWorks platform. “LPL truly embraces the Monteverde Group’s objective to provide a richer client experience and enhanced depth of talent.”

Scott Posner, LPL executive vice president, Business Development, stated, “We welcome Jim, Craig and their team to the LPL family and are honored to be a chosen partner in their journey to elevate their practice and add more value to their clients. We understand what advisors need to run a successful firm, and we are committed to investing in the resources necessary to help them achieve that success. We are able to meet them where they are in the evolution of their practice to help them differentiate the client experience, enhance their business and win in the marketplace. We look forward to a long-lasting relationship with The Monteverde Group.”

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 17,000 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 (2019-2020 Kehrer Bielan Research & Consulting Annual TPM Report)

*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.

The Monteverde Group and LPL Financial are separate entities.

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Media Contact:
Lauren Hoyt-Williams
(980) 321-1232
Lauren.Hoyt-Williams@lpl.com

FAQ

What assets did The Monteverde Group manage before joining LPL Financial?

The Monteverde Group managed approximately $440 million in advisory, brokerage, and retirement plan assets.

When did The Monteverde Group join LPL Financial?

The Monteverde Group joined LPL Financial on March 15, 2021.

What is the significance of LPL Financial's partnership with The Monteverde Group?

The partnership enhances LPL's advisory capabilities and provides a broader range of services and technology solutions to clients.

Who is the founder of The Monteverde Group?

The Monteverde Group was founded by Jim Monteverde, who is also the President and CEO.