LPL Financial Welcomes SGC Financial and Insurance Services
“LPL is committed to investing in technology and innovative capabilities like ClientWorks, where everything talks together and is integrated into one system. This is a game changer that will enhance both the client and advisor experience.” – Matthew Bond
CHARLOTTE, N.C. – Sept. 16, 2020 – LPL Financial LLC, a leading retail investment advisory firm, independent broker-dealer and registered investment advisor (RIA) custodian, today announced that SGC Financial and Insurance Services has joined LPL Financial’s broker-dealer and corporate registered investment advisor (RIA) platforms, which leverages LPL as custodian. The group of 13 financial advisors reported having served more than $1 billion in advisory, brokerage and retirement plan assets*. They join LPL from Securian Financial.
Based in San Mateo, Calif., SGC Financial’s roots date back to 1945 when the firm launched as a general agency for an insurance company. Over the years, the firm morphed into a large enterprise of financial advisors who focus on providing objective, comprehensive wealth management and financial planning services to help their clients work toward personalized financial goals. The SGC leadership team is comprised of Cara Banchero, COO, and financial advisor Matthew Bond, who has served as firm president since 2011. They are joined by financial advisors Robert Ostenberg, Peter Evans, Joseph Winslow, Jason Heise, Anthony DiRegolo, Justin Skelton, Aaron Moore, Steve Grochol, Chris Manzi, Patrick McAndrew, Kevin Lyle and Ed Bruzzone, as well as several office support staff members. Although the advisors run individual practices, they often collaborate and use a team approach to ensure each client’s unique needs are addressed with the highest degree of service possible.
“Today, more than ever before, clients are searching for independent advice to assist them in the pursuit of their hopes and dreams in a constantly changing financial market place. While the need has never been stronger, the solutions can be confusing and clients can benefit from the partnership of an advisor to help them navigate the options,” Bond said. “As a firm, our mission is to understand each client’s goals and develop a plan together that helps them reach them. We focus heavily on financial education, both for our clients and in the community, including hosting several retirement planning courses each year.”
Why they chose LPL Financial
Seeking greater independence, enhanced technology and growth opportunities, the SGC team chose to partner with LPL Financial after an 18 month search. “LPL is above and beyond anything we could hope for in a new partner,” Bond said. “LPL is committed to investing in technology and innovative capabilities like ClientWorks, where everything talks together and is integrated into one system. This is a game changer that will enhance both the client and advisor experience. Also, LPL advisors are not required or urged to represent propriety products or solutions, meaning we have more freedom and independence to serve our clients and drive our business the way we see fit.”
Bond said the firm also appreciates LPL’s self-clearing advantage, which gives the team more control and cost efficiency, as well as the transparency that comes with being a publicly traded company. With the move to LPL, their goal is to position SGC as a destination firm for other advisors, Bond said. “LPL’s size and scale, combined with the excellent transition and onboarding support, is huge. We expect this move to LPL will help us continue to thrive and expand our footprint in the Bay area, as well as look into regional opportunities,” Bond said.
Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, said, “We are honored to welcome to the entire SGC Financial team to LPL. I’m impressed by their resiliency during this challenging time for our industry. They have shown that they are undeterred by the COVID-19 environment, keeping their focus on finding a partner that can enhance the service and support they give their clients while providing them with access to resources and technology that can help their business move to the next level. They recognize that the demand for advice continues to grow, and that being able to access leading technology, provide a differentiated experience and by having access to growth support, they have a bright future ahead. As they grow, we will meet them where they are with the relevant platforms, technology and digital capabilities that will enable them to continue to lead in their market. We look forward to a long-lasting partnership with SGC Financial.”
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.
SGC Financial and Insurance Services 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 1996-2020
Throughout this communication, the terms “financial advisors” and “advisors” include registered representatives and/or investment adviser representatives affiliated with LPL Financial LLC, an SEC registered broker-dealer and investment adviser.