LPL Financial Holdings Inc. operates a wealth management platform for financial advisors, broker-dealer representatives, registered investment advisers and financial institutions. News about LPLA centers on advisor and team affiliations, broker-dealer and RIA platform growth, custody and advisory asset trends, and affiliation models such as Linsco and LPL Independent Advisor Network.
Company updates also cover quarterly financial results, organic and recruited asset flows, client cash balances, capital and liquidity measures, dividends, technology and practice-management services, investment solutions, and advisor support programs such as its military deployment practice continuation framework.
LPL Financial (Nasdaq: LPLA) announced key management changes, effective May 2, 2022. Kabir Sethi will join as Chief Product Officer, focusing on tech advancements and wealth management solutions. Meanwhile, Matt Enyedi transitions to oversee National Sales and Marketing, enhancing LPL's advisor relationships. Both will report to President and CEO Dan Arnold, who emphasized the importance of strong leadership in driving growth and innovation. Sethi's experience at Merrill Lynch and Enyedi's long tenure at LPL position the firm for future success in the advisor-centric market.
LPL Financial (Nasdaq: LPLA) has welcomed financial advisor Robert Mitchell, who brings approximately $425 million in advisory assets, to its Linsco by LPL Financial employee advisor model. This move aims to enhance service quality for Mitchell's growing client base. Mitchell, supported by a skilled team, values LPL's commitment to comprehensive resources and personalized client attention. LPL's new Greensboro office will serve as the site for Mitchell's team, promising innovative tools and a tailored approach to client financial management.
LPL Financial (Nasdaq: LPLA) announced the launch of Platte River Private Wealth, an independent practice by advisors Chad Keeler and Brock Rouch. The team serves approximately $380 million in advisory and brokerage assets and transitioned from Morgan Stanley to leverage LPL’s robust support and resources. Based in Casper, Wyoming, they focus on high-net-worth retirees and aim to enhance client experiences through personalized financial planning. LPL's Strategic Wealth Services provides ongoing support to facilitate their independent journey.
LPL Financial has launched Paraplanning Services to assist advisors, RIAs, and institutions in delivering financial planning services. This initiative aims to enhance client relationships by providing experienced support. Currently, about 150,000 advisors offer financial planning, with an estimated 20,000 more expected to join in the next three years. Paraplanners will work closely with advisors to create comprehensive financial plans using various planning software. This service marks the start of several new offerings from LPL aimed at expanding advisory services.
LPL Financial announced the addition of Theresa M. Hannon CPA and Kevin Hannon CFP to its platform, joining from American Portfolios Financial Services. The Hannon team manages approximately $175 million in advisory and brokerage assets. By partnering with Professional Wealth Advisors, they aim to enhance client service through improved technology and support. This move aligns with their client-centric values, promising elevated customer service and operational support. LPL continues to strengthen its network, focusing on providing personalized financial guidance.
LPL Financial announced that 119 affiliated advisors were ranked in the 2022 Best-In-State Wealth Advisors list by Forbes, an increase from 92 last year. LPL's executive vice president Angela Xavier praised the advisors for their commitment to client service and professionalism. The list evaluates advisors based on various criteria, including client retention and revenue trends. LPL Financial, a leader in the advisory sector, supports nearly 20,000 advisors nationwide, emphasizing a client-centric, independent model in wealth management.
LPL Financial has welcomed Northern Lakes Financial Group into its broker-dealer and investment advisor platforms. The group, which joined from Thrivent Investment Management, reported managing approximately $120 million in advisory and retirement plan assets. Comprised of father-daughter team Robert Viau and Liz Mengo, alongside client support specialist Kamryn Nardini, the group aims to provide tailored financial guidance. Their decision to partner with LPL stems from a desire for a flexible business model and enhanced technological support to better serve their clients.
LPL Financial (Nasdaq: LPLA) announced the affiliation of financial advisor Gary Edmonds and business management associate Andy Chang with Linsco by LPL Financial. The team, servicing approximately $360 million in advisory assets, joins from UBS Financial Services. Their move aims to enhance client services through increased independence and access to innovative technology. The Linsco model provides comprehensive support, enabling advisors to focus on client relationships while utilizing LPL's integrated wealth management platforms.
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LPL Financial welcomes financial advisor Lisa Tesar to their Linsco employee model, managing approximately $260 million in assets. Tesar, a second-generation advisor, aims to provide personalized financial advice primarily to high-net-worth clients focusing on retirement income. Her team was attracted to LPL for its brand autonomy and supportive resources that facilitate personalized client service. LPL continues to emphasize its commitment to advisor-centered models allowing for growth and independence.