NY-Based Sterling Wealth Group Joins LPL Financial

Last Edited by: LPL Financial

Last Updated: December 20, 2021

Sterling Wealth Group Madden family team image

CHARLOTTE, N.C. – Dec. 20, 2021 – LPL Financial LLC announced today that Sterling Wealth Group has joined LPL Financial’s broker-dealer, corporate registered investment advisor (RIA) and custodial platforms. The Sterling team reported to LPL that it served approximately $390 million in advisory, brokerage and retirement plan assets.* They join from MML Investors Services.

Founder Robert Sterling Madden CLU, ChFC, CFP® started the Melville, N.Y.-based firm more than 35 years ago when he discovered his passion for helping others pursue their retirement dreams. He is joined by his son, Michael Sterling Madden, CFP®, who has 20 years of experience in the financial services industry. The Sterling Wealth Group’s vision is to help clients clarify their definition of financial success and provide them with long-term financial strategies to get there.

“As client-centric advisors, we want to make a difference in each client’s life,” Bob Madden said. “We pledge our knowledge and resources to help our clients work toward what is important to their financial wellbeing by providing personalization, professionalism and quality service.”

LPL Financial simply unrivaled

As the family team prepares for future growth and the next chapter of their business, they chose to align with LPL and JFC Advisor Network. “We spent at least a year of due diligence to determine what was best for our clients and business,” Bob Madden said. “We looked at technology capabilities, breadth of investment options, research and resources before concluding that LPL’s integrated platform is simply unrivaled. We also appreciate the family environment and added support provided by JFC. We wholeheartedly believe this new relationship will enhance the client experience, and allow us to serve their needs more effectively and efficiently.”

Outside of work, the team is highly committed to giving back, especially to those who serve in the armed forces. Bob Madden is a United States Naval Academy graduate who served as a Surface Warfare Officer for six years prior to joining the financial services industry. He is co-founder and president of Cost of Freedom, Inc., which has a mission to pass the core values of honor, courage and commitment to future generations. He remains passionate about honoring soldiers and marines, and each year hosts wounded warriors and injured marines at an annual Cost of Freedom weekend held at the Army-Navy game. He is on the board of directors for America's Vet Dogs and the Guide Dog Foundation, and also supports Injured Marine Semper Fi Fund and the Travis Manion Foundation.

“It is with great pride that we welcome Bob and Mike Madden of Sterling Wealth Group to JFC Advisor Network and LPL,” said Jack Connealy, founder of JFC Advisor Network. “Bob has dedicated his life to serving his country, community and clients, and he sets an exemplary standard for us all both personally and professionally. We are honored that Bob and Mike have chosen to partner with JFC and look forward to supporting their continued growth for years to come.”

Scott Posner, LPL executive vice president, Business Development, stated, “We extend a warm welcome to Bob and Michael, and are honored to have them be a part of the LPL community.   Everything we do at LPL is designed to provide advisors with the support they need to run successful practices. Their greatness is our goal. We are committed to providing powerful capabilities, innovative technology and robust business solutions to help increase efficiency and create meaningful, differentiated client experiences. We look forward to supporting Sterling Wealth Group for years to come.”

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 19,000 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 personalized 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.

* Value approximated based on asset and holding details provided to LPL from the year 2021

** Top RIA custodian (Cerulli Associates, 2020 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S (Based on total revenues, Financial Planning magazine 1996-2021); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 as of June 2021

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.

Sterling Wealth Group, JFC Advisor Network and LPL Financial are separate entities.