CHARLOTTE, N.C. – April 14, 2020 – LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced that financial advisor Peter DeSantis CFP® has joined LPL Financial’s broker-dealer, corporate registered investment advisor (RIA) and custodian platforms. He reported having served approximately $100 million in brokerage and advisory assets*. He joins from Cetera Advisor Networks.
Today’s market challenges and current economic conditions resonate with DeSantis, who graduated with a business degree in 1982 during a recession and struggled to find a job. He decided to pursue a second degree in metallurgical engineering, and found a part time job in a chemistry lab where he met his wife, Ana. In 1985 they were both laid off due to plant shut downs, and he decided to venture into a new career as a financial planner. Together he and Ana launched Peter DeSantis & Co., an independent financial practice in El Paso, Texas, where they have grown the business organically over the past 35 years. Ana serves as administrative assistant for the business.
“We are blessed to be able to serve clients who feel more like our extended family,” DeSantis said. “We are heavily focused on investment and retirement planning, which is essential to balancing a client’s short-term and long-term financial goals. It is so rewarding to make real connections and offer meaningful advice that directly impacts a client’s lives and financial future.”
Planning ahead with LPL Financial
DeSantis moved the business to LPL as an early step in his succession plan with a fellow LPL advisor who he’s known for years—someone he trusts and can rely on. While DeSantis has no intention to retire soon, he said it is important to have a contingency plan in place to make sure his clients are taken care of in the event something unexpected happens to him.
The move has provided a great amount of short-term benefit as well, through access to LPL’s integrated technology platform. “Everything about ClientWorks is so streamlined and user-friendly. It will make our lives so much easier, from uploading new accounts to servicing accounts,” DeSantis said.
Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, said, “We welcome Peter and Ana to the LPL family. He has built a successful practice by demonstrating a deep commitment to his clients, helping them build their financial legacies across three decades. As Peter recognizes, it is just as important for advisors to have a plan that protects their own legacies, so they are able to unlock the value of their business when they are ready. It is a privilege to be Peter’s chosen partner as he continues to build value in his business by deepening his value with clients.”
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, a registered investment advisor. Member FINRA / SIPC.
*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