Family Firm Chooses LPL for its Self-Clearing Capabilities
CHARLOTTE, N.C. – Aug. 29, 2018 – LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced that Sackman & Son Financial Services, a third-generation financial services firm, has joined LPL’s broker-dealer and corporate registered investment advisory (RIA) platforms. Sackman & Son reported that it served approximately $360 million of client brokerage and advisory assets as of July 30*.
“LPL’s self-clearing capabilities were a huge factor in our decision to change firms,” said Daniel Sackman. “We are excited to be able to take advantage of the time and cost savings from those capabilities and believe it will enable us to deliver better service and more value to our clients. We look forward to utilizing LPL’s size and scale to help us grow our business.”
Sackman & Son was founded in the early 1990s by Lee Sackman and his son Gary. The family has provided financial services to clients in the Waukegan, Ill. area for more than 50 years. Lee has since retired, but his grandson, Daniel Sackman, is the third generation to take part in the family business. The firm also includes advisors Gary McBride and James Barnes and two support staff members. The team provides financial planning services, including retirement planning, education planning and long-term care strategies.
“We welcome the Sackman family to our LPL family,” said Craig Kamis, LPL executive vice president, Business Development. “We’re excited they can take advantage of LPL’s self-clearing services to better support their business. We look forward to providing them with access to products, technology and support that can help them grow their business.”
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.
*Based on prior business and represents assets that would have been custodied at LPL Financial, rather than third-party custodians. Reported assets have not been independently and fully verified by LPL Financial.
**Based on total revenues, Financial Planning magazine June 1996-2018