CHARLOTTE, N.C. – Nov. 12, 2019 – LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced financial advisors Cris Arnold, David McIllwain, Charlotte Martin and Brenda Speer have joined LPL Financial. The advisors have aligned with Independent Advisor Alliance (IAA), an enterprise firm offering support and services to advisors leveraging LPL Financial’s broker-dealer and corporate or hybrid registered investment advisor (RIA) platforms. The team reported having served approximately $240 million in brokerage, advisory and retirement plan assets*. They join from FSC Securities, part of the Advisor Group network of broker-dealers.
Based in greater Nashville, Tenn., the team focuses on helping individuals save and prepare for the future as they transition into retirement. “Our goal is to help clients make sound financial decisions as they work toward securing a lifetime of income,” Arnold said. “More than anything, engaging with our clients is the most enjoyable part of this business. Over the years we have found that our clients have become our friends.”
Arnold and McIllwain are longtime friends since the early 1980s. They joined their wealth management practices in 2003, having discovered their businesses complemented each other. That same year, lifetime friends Martin and Speer formed their practice to serve retirees in rural middle Tennessee. The two groups have worked closely together over the years and plan to formally merge practices in early 2020.
A Move to LPL & IAA Helps This Team Work More Effectively
The group partnered with LPL and IAA to outsource some of their administrative support in a smart, efficient way, Arnold said. “We plan to take advantage of IAA’s programs and capabilities that allow us to use their staff for routine tasks such as opening accounts and preparing paperwork, freeing up our team to provide more meaningful experiences for clients,” he said. “We want our clients to be well-taken care of. I’m confident LPL will help us conduct business easier as we continue to build on the quality of service we provide our clients.”
“We welcome Cris, David, Charlotte and Brenda to the IAA team. Each of these advisors is committed to making an impact in their clients’ lives and within their communities, and they are a natural fit with our culture,” said Robert Russo, founder and chief executive officer of IAA. “The team resonated with our business model of providing personalized, boutique services to our network of advisors, supported by LPL’s technology and capital resources.”
Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, added, “Advisors invest endless time and energy supporting their clients and establishing their independent businesses. It makes sense that they want a partner who is just as committed as they are and will care about them for the long haul. Our commitment to our advisors is what makes LPL a leading partner to independent advisors. We aspire to know our advisors better than anyone, and we use our financial strength to invest in their business and help them meet the opportunities they have today, while positioning them to win in the future. We look forward to a long-term partnership with Cris, David, Charlotte and Brenda and congratulate IAA on expanding its network of quality advisors.”
Read about other firms that recently joined LPL in the LPL Financial News and Media section of LPL.com.
Advisors, explore all the opportunities that affiliating with LPL Financial can bring by speaking with a recruiter today.
About LPL Financial
LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker-dealer**. We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.
Securities and Advisory services offered through LPL Financial, a registered investment advisor. Member FINRA / SIPC.
Independent Advisor Alliance and LPL Financial are separate entities.
*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.
**Based on total revenues, Financial Planning magazine June 1996-2019