CHARLOTTE, N.C. – Jan. 28, 2020 – LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced that financial advisors Craig Lewelling and Greg Krpalek have joined LPL Financial’s broker-dealer and corporate registered investment advisor (RIA) platforms. The advisors reported having served approximately $225 million and $105 million, respectively, in brokerage, advisory and retirement plan assets*. They join from Sagepoint Financial, part of the Advisor Group network of broker-dealers.
Lewelling is president of US Investors International based in Portland, Ore. Krpalek is president of Krpalek Financial Services in Albany, Ore. Both are proponents of continuous education, and struck up a friendship over the years while attending the same industry conferences. Receiving much of the same training, it seemed natural to partner together to take the next steps to grow their businesses, Lewelling said.
With the move to LPL, the two will work closely together as part of Krpalek’s business continuity and succession plan. “We’ll continue to keep our practices independent of each other, but we are excited about this opportunity to work together to provide the best care to our clients,” Krpalek said. Lewelling added, “It’s a perfect cultural fit. Greg and I think the same way and share the same approach to clients, with a focus on comprehensive wealth management and full financial planning.”
The advisors both lost parents at an early age, experiencing first-hand the stress that financial hardships can cause families. At age 18, Lewelling’s uncle took him under his wing, teaching him about the stock market and encouraging him to consider a career in financial services. Lewelling worked in corporate America for a while, became an advisor and then bought US Investors International from a retiring advisor in 1999. “We created a succession plan back when no one else was doing it,” he said.
Krpalek was 17 when his father died and 26 when his mother passed away following a major illness that forced her to retire early. “I really want to help other families prepare for both expected and unexpected life events,” said Krpalek, whose journey into financial services followed a brief NFL career as a center for the Dallas Cowboys and Green Bay Packers. “I’ve always wanted to make a difference with clients to improve their financial situation.”
The duo moved their business to LPL Financial to take advantage of the firm’s enhanced platforms and technology, while also finding value in the firm’s self-clearing capabilities and the transparency of being a publicly traded company. “LPL brings a depth of service and technology that will take us to the next level,” Lewelling said.
“This business and industry is driven by technology, and LPL has made a tremendous commitment in that area,” Krpalek said. “The ability to do business digitally, versus stacks of paperwork, is a win for us, making it easier for us to help meet the relevant expectations that clients have.” Lewelling added that he also appreciates that LPL’s client statements are simple and easy to understand, which he believes will be a differentiator for his business.
Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, said, “We welcome Craig and Greg to the LPL family. We are inspired by their foresight to develop a thoughtful plan that is guided by their commitment to their clients. As their partner, we are committed to delivering the differentiated capabilities, technology and service that helps them be successful today and into the future, as the needs of their clients and their business evolve. We look forward to long-term partnerships with Krpalek Financial Services and US Investors International.”
Read about other firms that recently joined LPL in the LPL Financial News and Media section of LPL.com.
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.
Krpalek Financial Services, US Investors International 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