CHARLOTTE, N.C. – Oct. 28, 2019 – LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced financial advisors Don Petricic, CFP® and Tom Phillips, CFP® have joined LPL Financial’s broker-dealer and corporate registered investment advisor (RIA) platforms. They reported having served approximately $120 million in brokerage and advisory assets*. They join from Woodbury Financial Services, part of the Advisor Group network of broker-dealers.
The advisors met at their former office and quickly struck up a friendship, with Petricic taking on a mentorship role to help jumpstart Phillips’ career. Both are Washington State alumni, avid Seattle Seahawks fans and now fathers to active young boys. In 2012, they launched their own office, Petricic & Phillips Financial Group, in Bellevue, Wash.
They focus on providing financial education, retirement planning and tax reduction strategies. About 75 percent of their clients are in retirement or within five years of retirement, while the others are typically middle age or young professionals with common goals of saving for retirement, sending their children to college and enjoying life along the way, Petricic said. “We’re on the younger side for financial planners, and our clients really love that we’re going to be there with them throughout their entire retirement,” said Petricic, who is 40. Phillips, 34, added,” Don and I both came from very modest means and we’re proud to have gotten this point. We grew our business from the ground up, almost exclusively by word of mouth, delivering a boutique experience of objective financial advice and personalized service.”
Seeking new ways to take the practice to the next level, the team joined LPL Financial. “In today’s world, clients are demanding a digital experience that is very streamlined with user-friendly technology. We examined the industry and it was clear that LPL Financial’s integrated technology package stood out as a leader, especially the client-facing systems,” Petricic said. “We believe LPL’s technology will allow us to be more efficient and save every team member three-to-five hours a week. That’s a significant amount of time that will give us capacity to better serve our clients, bring on new clients or spend more personal time at home with our families.”
Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, said, “We congratulate Don and Tom on the success of their independent practice and welcome them to the LPL family as they begin the next chapter of their careers. We believe that our technology will make it easier for advisors to manage their practices and help build value for their clients. We are committed to leveraging our scale by investing in integrated capabilities, resources and tools centered on our advisors and the investors they serve.”
Advisors, explore all the opportunities that affiliating with LPL Financial can bring by speaking with a recruiter today.
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.
Petricic & Phillips Financial Group 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