LPL Financial Welcomes JFC Financial Services
“We extend a warm welcome to Jack and the entire JFC Financial Services family. We are experiencing a flight to quality in the independent space, and we are pleased to be their firm’s choice for enhanced service and support to be able to grow and deliver value to their clients.” – Rich Steinmeier
CHARLOTTE, N.C. – May 4, 2020 – LPL Financial LLC, a leading retail investment advisory firm, RIA custodian and independent broker-dealer, today announced that approximately 100 financial professionals affiliated with JFC Financial Services, including its founder Jack Connealy, have joined LPL’s broker-dealer, corporate registered investment advisor (RIA) and custodian platforms. They reported having served approximately $3 billion in brokerage, advisory and retirement plan assets*. They joined from Securities America, part of the Advisor Group network of broker-dealers.
Connealy launched his independent practice in 1992, gradually building the JFC business by developing a network of financial institutions throughout Nebraska. Over the years, the firm morphed into a large enterprise that includes independent financial professionals as well as financial institutions.
Headquartered in Lincoln, Neb., the firm is comprised of 17 employees and an in-house team of financial professionals, along with the 100 affiliated financial advisors who joined LPL in waves beginning in mid-January. “We have a wonderful culture, having created a really tight-knit, almost family-like network of financial professionals,” Connealy said. The advisors share a mission to partner with clients to help them establish and pursue their financial goals through objective financial planning, investment management and risk management strategies.
LPL’s Recruiting Platform, Technology and ClientWorks
Seeking to expand the business’ footprint on a national scale, Connealy and team turned to LPL Financial to leverage the firm’s robust recruiting capabilities. “We knew LPL was a growth partner that could help us achieve our goals quickly. We’ve already seen significant recruiting success in the last three months thanks to the support from LPL,” Connealy said, noting that JFC has recently recruited 12 additional advisors to the firm, including six from Advisor Group.
LPL’s innovative technology was also a factor behind the move. “We love that the ClientWorks Connected capabilities are integrated and we can access everything easily without having to toggle from one window to another. The little things add up, like one click versus four clicks, and we’ve already seen a significant time savings,” Connealy said. He said that many programs within the digital ecosystem have make it easier to serve clients remotely, such as Account View, which allows clients to visually track their portfolio, and DocuSign, which allows for a client’s e-signature, eliminating the need to fax or mail documents. “When efficiencies of technology are leveraged at an enterprise level, it helps advisors focus on their primary purpose, which is supporting their clients.”
Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, said, “We extend a warm welcome to Jack and the entire JFC Financial Services family. We are experiencing a flight to quality in the independent space, and we are pleased to be their firm’s choice for enhanced service and support to be able to grow and deliver value to their clients. We stand firm in our commitment to advisors and to investing in the technology, business solutions, platforms and resources that can help the firm and each individual advisor and institution in their network be successful. We look forward to supporting the entire JFC Financial team for years to come.”
Read about other firms that recently joined LPL in the LPL Financial News and Media section of LPL.com.
Advisors, find an LPL business development representative near you.
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, professionals, 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 LLC, a registered investment advisor. Member FINRA / SIPC.
JFC Financial Services 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