LPL Financial Welcomes The Noble Group

Rhea-AI Summary

LPL Financial announced that The Noble Group has joined its broker-dealer, RIA, and custodial platforms. The Noble Group, founded in 1996, reported serving approximately $2.1 billion in assets and transitioned from Raymond James. Based in Sugar Land, Texas, with a registered office in Dallas, the firm offers corporate retirement plan consulting, financial planning, and investment management services.

Joey Rose, AIF®, now serves as president and CEO, as founder Tom Noble steps away from daily operations. The move to LPL aims to provide The Noble Group with increased independence, access to advanced digital capabilities, and a platform for continued growth. LPL's flexible model allows the firm to select tailored financial planning software and resources for their clients.

Positive

• The Noble Group brings $2.1 billion in assets to LPL Financial
• Transition to LPL provides increased independence and flexibility for The Noble Group
• Move positions The Noble Group for potential growth and recruiting opportunities

Negative

• None.

Insights

Financial Analyst

The Noble Group's transition to LPL Financial, bringing $2.1 billion in assets, is a significant move in the wealth management industry. This acquisition strengthens LPL's market position and expands its assets under management. For LPL investors, this represents potential revenue growth and increased market share. The deal aligns with LPL's strategy of attracting large, established advisory firms, which could lead to improved financial performance. However, the impact on LPL's stock may be in the short term, as such transitions are part of the company's regular business model. Long-term investors should monitor how efficiently LPL integrates The Noble Group and whether this leads to increased advisor productivity and client retention.

Market Research Analyst

This transition highlights a broader trend in the financial advisory industry towards greater independence and customization of services. The Noble Group's move to LPL for "the next level of independence" reflects advisors' growing demand for flexible platforms and technology solutions. This trend could reshape the competitive landscape, potentially benefiting firms like LPL that offer such flexibility. For investors, it's important to understand how this shift might impact market share distribution among broker-dealers and RIAs. LPL's ability to attract large teams like The Noble Group could indicate strong positioning in this evolving market, potentially leading to sustained growth and increased valuation multiples for the company.

SAN DIEGO, Oct. 03, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC, announced today that the advisors at The Noble Group have joined LPL Financial’s broker-dealer, RIA and custodial platforms. They reported having served approximately $2.1 billion in advisory, brokerage and retirement plan assets* and join LPL from Raymond James.

Founded in 1996 by Tom Noble, AIF^®, The Noble Group is a holistic wealth management firm that offers a range of financial services including corporate retirement plan consulting, financial planning, investment advice and portfolio management. With a team-oriented business model, the firm serves many high-net-worth families, retirees and business owners.

Based in Sugar Land, Texas, and with a registered office in Dallas, the team is comprised of nine advisors and 13 support staff members. Noble plans to step away from day-to-day operations, leaving leadership responsibilities to the next generation of advisors. Joey Rose, AIF^®, who joined the firm in 2011, now serves as president and CEO.

“Whether partnering with clients to develop an effective, efficient and comprehensive financial plan for their families or managing corporate retirement plans, our team is committed to being there to guide clients through the journey — from education to realization,” Rose said.

The Noble Group’s transition to LPL underscores the company’s dedication to delivering exceptional client service and providing advisors with the tools and resources for success. With LPL’s robust digital capabilities, integrated platform and comprehensive support services, The Noble Group is strategically positioned for continued growth and prosperity.

“We believe LPL offers us the next level of independence, allowing us to select the financial planning software and resources that are most suitable for our clients,” Rose said. “Today’s clients want and need financial planning, and that’s where advisors can add more value to relationships. We appreciate that LPL provides a blank canvas and the autonomy to create the service model of our choice.”

The move to LPL also sets the team up for increased recruiting opportunities to grow the next generation of advisors, providing them with the support and resources needed to succeed in this ever-changing industry. “The culture we’ve created at The Noble Group is phenomenal. It’s truly a place where you can come enjoy your career and grow within the organization, whether you’re a new advisor or someone looking to retire,” Rose said.

Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome The Noble Group to LPL and look forward to supporting their continued growth and success. LPL is committed to providing advisors with ultimate choice and unprecedented flexibility in how they run their business. We will meet advisors where they are in the evolution of their practices and are committed to investing in innovative capabilities and strategic resources to help them thrive and win their market.”

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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 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. The Noble 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.

Media Contact: 
Media.relations@LPLFinancial.com 
(704) 996-1840

Tracking #633623

FAQ

How much in assets did The Noble Group bring to LPL Financial (LPLA)?

The Noble Group reported serving approximately $2.1 billion in advisory, brokerage, and retirement plan assets when joining LPL Financial.

What services does The Noble Group offer after joining LPL Financial (LPLA)?

The Noble Group offers corporate retirement plan consulting, financial planning, investment advice, and portfolio management services.

Who is the current president and CEO of The Noble Group after joining LPL Financial (LPLA)?

Joey Rose, AIF®, who joined the firm in 2011, now serves as president and CEO of The Noble Group.

Why did The Noble Group choose to join LPL Financial (LPLA)?

The Noble Group joined LPL Financial for increased independence, access to advanced digital capabilities, and a platform that allows them to select tailored financial planning software and resources for their clients.