LPL Financial Welcomes CVG Wealth Management

LPL Financial

“With support from LPL, our team will be able to operate more effectively and quickly respond to our clients’ needs.” – Richard Pakes

CHARLOTTE, N.C. – Feb. 22, 2021 – LPL Financial LLC, today announced that financial advisor Richard Pakes has joined LPL Financial, leveraging its broker-dealer and corporate RIA platforms, including custodial services. He reported having served approximately $315 million in advisory and brokerage assets**. He joins LPL from Wells Fargo Advisors.

With 24 years of industry experience, Pakes is excited to launch his independent practice, CVG Wealth Management, in Santa Barbara, Calif., where he is joined by client relationship managers Kathy Mathis and Jamie Meisinger. Pakes provides comprehensive investment advice and portfolio management for high-net-worth individuals and business owners. “We offer a broad range of services and strategies designed to help our clients make informed investment decisions based on their individual needs and financial goals,” Pakes said.

Why he chose LPL Financial

Looking for more freedom and flexibility in how he operates his business, as well as enhanced advisor support, Pakes chose to partner with LPL in his move to independence. “This is an opportunity to own my firm and remove some of the bureaucracy, all in the spirit of doing what’s best for our clients,” Pakes said. “With support from LPL, our team will be able to operate more effectively and quickly respond to our clients’ needs. Also, LPL’s innovative technology platform gives us the tools and resources to really elevate how we serve our clients.”  Pakes plans to grow his practice quickly, and he believes the partnership with LPL will enhance his value proposition and help attract more advisors to his team.

Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, said, “We warmly welcome Richard to the LPL family and are honored that he chose to leverage our partnership in the launch of his independent practice. As an independent business owner, having a supportive environment can be a differentiator. With a partner who understands the financial advice space and business ownership, advisors can more efficiently and effectively navigate the new landscape and connect with the services and capabilities that enable them to stay focused on their clients and grow a business with value. We look forward to supporting CVG Wealth Management’s future growth.”

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 (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader* in the markets we serve, supporting more than 17,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to objective guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.

* Top RIA custodian (Cerulli Associates, 2019 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S (Based on total revenues, Financial Planning magazine June 1996-2020); No. 1 provider of third-party brokerage services to banks and credit unions (2019-2020 Kehrer Bielan Research & Consulting Annual TPM Report)

**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.

Securities and advisory services offered through LPL Financial LLC, an SEC- registered broker-dealer and investment advisor. Member FINRA/SIPC. 

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial LLC. We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

CVG Wealth Management and LPL Financial are separate entities.