135-Advisor Firm with Approximately $4 Billion in Client Assets Joins LPL’s Broker/Dealer and Hybrid RIA Platforms
CHARLOTTE, N.C. – Nov. 29, 2016 – Leading retail investment advisory firm and independent broker/dealer LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today announced that Integrated Financial Partners (IFP), an independent financial advisory firm with 135 financial advisors, has joined LPL Financial’s broker/dealer and hybrid registered investment advisor (RIA) custodial platforms. IFP reported that, based on prior business, its advisors served approximately $4 billion of brokerage and advisory client assets*, as of December 2015.
Based in Waltham, Mass., IFP has approximately 20 offices throughout the country. Established in 1996, IFP has grown steadily through its innovative approach to financial planning, which includes the collaboration between the client, financial planners, certified public accountants and family practice attorneys. Serving a national client base of predominantly high-net-worth retirees and business owners, many with complex financial planning needs, IFP has generated the majority of its client relationships through its CPA partnership program.
Bill Morrissey, LPL managing director, Business Development, said, “We are thrilled to welcome IFP to LPL. While I was immediately impressed by the innovative nature of their CPA partnership program, my respect for their unique value proposition grew after getting to know the IFP team and seeing first-hand the organization they have built to help advisors serve the needs of investors, particularly in the high-net-worth space. From their well-developed training and financial planning model to the incredible support structure and culture of advocacy for their advisors, IFP truly seems to have cracked the code in terms of helping advisors grow their business.”
Paul A. Saganey, founder and president of IFP, said, “Having started in the industry as a planner and growing this business over 20 years, it was important to me and our entire organization that IFP join a firm that understands what advisors need to grow and thrive in a changing world. Watching LPL lead the industry in preparing for the DOL fiduciary rule and seeing our advisors’ excitement about what LPL’s new ClientWorks technology platform can do for their business made it clear that LPL is a firm that will grow with IFP and can continue to support us as our needs grow and evolve in the future. LPL’s advisor-focused culture was evidenced by the unfailing professionalism and warm demeanor of every executive and employee we have interacted with through this process, and we look forward to working with and benefitting from their deep bench of talent.”
*Asset numbers were reported by Integrated Financial Partners based on prior business and have not been independently and fully verified by LPL Financial.
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the retail financial advice market and served approximately $495 billion in brokerage and advisory assets as of October 31, 2016. LPL is one of the fastest growing RIA custodians and is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine June 1996-2016). The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 independent financial advisors and over 700 financial institutions, enabling them to help their clients turn life's aspirations into financial realities. Advisors associated with LPL also serviced an estimated 45,000 retirement plans with an estimated $129 billion in retirement plan assets, as of September 30, 2016. LPL also supports approximately 4,200 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have more than 3,200 employees with primary offices in Boston, Charlotte, and San Diego.
Securities and Advisory Services offered through LPL Financial. A registered investment advisor, Member FINRA/SIPC. Integrated Financial Partners and LPL Financial are separate entities.
Integrated Financial Partners Contact