Albany Group Launches with LPL Strategic Wealth Services

CHARLOTTE, N.C. – Oct. 11, 2022 – LPL Financial LLC announced today that financial advisors Beau Jones, Chris Story, Taylor Roberts and Joseph Montgomery have launched a new independent practice, The Albany Group, through affiliation with LPL Strategic Wealth Services, a modern breakaway solution for advisors seeking to gain control over their business. They reported having served approximately $375 million in advisory, brokerage and retirement assets*, and join LPL from Raymond James and Associates.  

The advisors are longtime friends and colleagues who have developed a deep respect for each other over the years. With the launch of The Albany Group, they come together as a team, each bringing a combination of qualities and experience to provide holistic investment advice to their broad client base. They all share the same core values of reliability, strength, accuracy, honor, approachability, community and dedicated client service. They are joined by Operations Manager Liz Yates and Client Service Specialists Danita Shoulders and Stephanie Brock.

Based in Decatur, Ala., the four managing partners of The Albany Group have deep ties in the area, so it was important that their firm’s new brand pays homage to the community. Their logo represents four oak leaves native to Alabama: Cherrybark Oak, Northern Red Oak, Southern Red Oak and White Oak. The oaks are all different, but part of the same family—just like the advisors who are unified by values and community.

“For locals, the Albany name brings to mind images of the resurging downtown and the longstanding history of Decatur’s downtown,” Jones said. “But it’s more than just a name. It’s to show respect to the Southern tradition of slowing down and getting to know neighbors, which is also how we approach financial planning.”

Meet The Albany Group

Why LPL Strategic Wealth Services

Seeking more autonomy, flexibility and independence for their business, the advisors chose to move their business to LPL as they take steps to build their perfect practice.

“For years, we’ve been intrigued by independence and the opportunity to be a business owner,” Montgomery said. “We looked at a number of options and came to the conclusion that LPL offers the best of both worlds. With LPL’s size and scale, we have an unbelievable array of services and products to help us serve our clients. On top of that, the Strategic Wealth Services model gives us a small firm feel we like with all the resources of a larger firm.”

LPL Strategic Wealth Services (SW) combines the freedom and flexibility of entrepreneurship with hands-on business services and dedicated strategic support designed to help practices thrive. SW advisors have access to LPL’s innovative wealth management platform and sophisticated resources, with an additional layer of ongoing, personalized support for daily operations and long-term business management. From the beginning, SW bridges the transition to independence by providing award-winning*** launch support, including real estate build-out, brand development, technology setup and HR services. After the transition is complete, SW teams receive ongoing operations support managed by their team of experts including a business strategist, marketing partner, CFO and administrative assistant. Advisors have one point of contact, a dedicated team and elite access to advocacy and project management for complex business issues, ultimately allowing them to stay focused on the enduring needs of their clients, culture and evolution of their practice.

“We made this move with clients in mind,” Roberts said. “With the dedicated support and vast resources provided by LPL, we can spend more time customizing strategies and taking care of our clients. We truly appreciate LPL’s comprehensive support, technology and research, along with its model of transparency and dedication to independence and choice.”

They also said that the move better positions them to have more control in how they grow the business. They plan to bring in the next generation of advisors and create a successful plan to ensure clients will be well-taken care of in the future. Additionally, Story said, it was important to partner with a team that does not offer proprietary investment products. “LPL’s only motivation is to help advisors serve their clients,” he said.

Scott Posner, LPL Executive Vice President, Business Development, added, “We welcome Beau, Chris, Taylor and Joe to the LPL community and are honored they turned to us in their quest for freedom and entrepreneurship. We are committed to providing personalized and strategic support each step of the way as they build an independent practice that best suits their team’s needs. At LPL, we are a partner for the long run, making investments in innovative capabilities and robust resources designed to help our advisors thrive. We look forward to a long and exciting journey ahead with the entire team at The Albany Group.”

Learn more about The Albany Group.

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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 nearly 21,000 financial advisors, and approximately 1,100 institution-based investment programs and 500 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to personalized 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.

*Value approximated based on asset and holding details provided to LPL from year-end 2021.

**Top RIA custodian (Cerulli Associates, 2020 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S. (Based on total revenues, Financial Planning magazine 1996-2022); among third-party providers of brokerage services to banks and credit unions, No. 1 in AUM Growth from Financial Institutions; No. 1 in Market Share of AUM from Financial Institutions; No. 1 in Market Share of Revenue from Financial Institutions; No. 1 on Financial Institution Market Share; No. 1 on Share of Advisors. (2021-2022 Kehrer Bielan Research & Consulting Annual TPM Report). Fortune 500 as of June 2021.

LPL and its affiliated companies provide financial services only from the United States.

*** 2021 WealthManagment.com Award Winner, Custodian- Transition Support

Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC. The Albany Group and LPL Financial are separate entities.

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