LPL Welcomes Financial Advisors Larry Forlenza and Carl Hanks
Rhea-AI Summary
LPL Financial announced that financial advisors Larry Forlenza and Carl Hanks have joined LPL's broker-dealer, RIA and custodial platforms from Raymond James Financial Services, bringing approximately $430 million in advisory, brokerage and retirement plan assets. Based in Morristown, N.J., they have reunited with Morristown Wealth Management team.
Forlenza, with nearly 30 years in financial services, specializes in retirement income planning, employer-sponsored retirement plans, and tax planning. Hanks, in the industry since 1991, focuses on serving corporate executives, business owners, and affluent families. Both advisors chose LPL after extensive due diligence, citing the firm's open-architecture digital platform and robust support system as key factors.
LPL Financial currently supports over 28,000 financial advisors and approximately 1,200 financial institutions, managing about $1.8 trillion in brokerage and advisory assets for 6 million Americans.
Positive
- Addition of advisors managing $430 million in assets strengthens LPL's market position
- Expansion of advisor network contributes to LPL's growth strategy
- Current total assets under management of $1.8 trillion demonstrates significant market presence
Negative
- None.
News Market Reaction
On the day this news was published, LPLA gained 1.09%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN DIEGO, Jan. 15, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Larry Forlenza, CRPC®, and Carl Hanks, CRPC®, have joined LPL Financial’s broker-dealer, RIA and custodial platforms. They reported serving approximately
Based in Morristown, N.J., Hanks and Forlenza have reunited with Morristown Wealth Management, which includes fellow advisors Don Giovanello and Gian Paolella, who joined LPL in October.
With nearly 30 years in financial services, Forlenza offers in-depth experiences to help families and professionals address each of their financial objectives. He takes a comprehensive approach to asset management and business planning, and as a Chartered Retirement Planning Counselor, Forlenza specializes in retirement income planning, employer-sponsored retirement plans, tax planning, retirement cash flow, estate planning and more. Forlenza is supported by his longtime practice manager Bonnie Bishof.
Hanks has been in the financial services industry since 1991 and has extensive experience working with corporate executives, successful business owners, individuals and affluent families using a disciplined comprehensive approach to their unique financial situations.
“We help clients define what is most important to them and then formulate the strategies that are suited for each individual need, from accumulating wealth or investing for income, solidifying a retirement plan or devising a distribution approach,” Hanks said.
Their decision to move to LPL came after an extensive due diligence process.
“We weighed our options and felt that LPL was the best place to evolve our business and enhance service experiences for our clients,” Forlenza said. “We are excited to have access to LPL’s open-architecture digital platform and a more robust support system to help us take care of our clients’ needs. LPL also provides the tools to grow our business and the back-office support to position us for a more successful future. We look forward to reconnecting with the Morristown team in this next endeavor.”
Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome Carl and Larry to the LPL community and look forward to supporting them as they continue to grow their business. We believe that advisors thrive when they have access to the right capabilities and support, and we’re confident they will be able to take advantage of our strategic resources and unprecedented flexibility to deliver the best possible outcomes for their clients.”
Related
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About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 28,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately
Securities and advisory services offered through LPL Financial (LPL), a registered investment advisor and broker dealer, member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States. Morristown Wealth Management and LPL 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, 2024.
Media Contact:
Media.relations@LPLFinancial.com
(704) 996-1840
Tracking #679602
FAQ
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