CHARLOTTE, N.C. – Oct. 23, 2019 – LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced that three financial advisors with Maxwell Financial Management have joined LPL Financial’s broker-dealer and corporate registered investment advisor (RIA) platforms. The group reported having served approximately $240 million in brokerage and advisory assets*. They were formerly associated with Advisor Group’s FSC Securities Corp.
CEO Richard Maxwell founded the company in 1981 and has since partnered with Adam Hill, president. Maxwell’s daughter, Katy Ufferman, is vice president. Between the three financial advisors and their office support, the business is positioned to address all aspects of a client’s financial needs, according to Hill. “We truly are a partnership, and between us we have experience in all areas of planning—from retirement planning to estate planning to providing strategies for women investors,” Hill said.
Financial planning is the cornerstone of the New Albany, Ohio practice. “Everyone who works with us goes through a financial plan. We believe that if we do a good job planning, it’ll lead to good investment choices. The planning process allows us to get to know our clients and provide informed recommendations specific to their needs,” Hill said.
The Maxwell Financial Management team moved their business to LPL for its “game-changing” technology, Hill said. “Clients are getting more sophisticated and we needed technology systems that can keep up with their demands. LPL is a perfect fit. We’ve been able to expedite clients’ needs with DocuSign, which saves paper and eliminates the need to fax documents. Also, the nimbleness of LPL’s technology and the continuous enhancements were a large draw,” Hill said. He added that LPL’s ownership structure as a publicly traded company was another reason behind their decision to move, by providing transparency into LPL’s business performance and its financial strength providing advisors access to capital resources.
The firm is taking advantage of LPL’s Admin Solutions to outsource to LPL day-to-day office management tasks such as answering phones, opening new accounts and helping with client profile management. Hill said this frees up their in-house office support team to focus on other opportunities to personalize service and enhance the client experience as the practice continues to grow.
“We serve to empower advisors by providing them with industry-leading tools, innovative capabilities and real business solutions that make it easier to operate day to day and enhance their value with clients,” said Rich Steinmeier, LPL Financial managing director and divisional president, Business Development. “We will continue to leverage our scale to invest in cost-effective and value-add capabilities and resources that help our valued partners, like the Maxwell Financial Management team, create meaningful and long-term relationships with their clients. We welcome Richard, Adam and Katy to LPL and look forward to a long-lasting partnership.”
Read about other firms that recently joined LPL in the LPL Financial News and Media section of LPL.com.
Advisors, learn more about LPL’s Business Solutions.
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.
Maxwell Financial Management 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