CHARLOTTE, N.C. – July 11, 2019 – LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced that Suffolk Wealth Management, the investment program offered at Suffolk Federal, has joined LPL Financial’s broker-dealer and corporate registered investment advisor (RIA) platforms. Suffolk Wealth Management reported that its advisors served approximately $110 million of client brokerage and advisory assets*. The program joins from CUNA Brokerage Services.
The Medford, N.Y.-based credit union has 11 branches in Long Island, with investment services provided by financial advisors James Gallagher and Mark Filiberto, with office support from Corinne Giammatteo. Gallagher, vice president of credit union services, and Filiberto helped develop the investment program, serving multiple generations of members and their families. They offer members financial advice and wealth management services catering to short- and long-term financial goals.
“Being in the industry for 30 years, there has been so much change and we felt it was time for us to align with a platform that could create more opportunities for our members,” Gallagher said. “We could very easily see that LPL listens to their advisors. They have invested in technology and other resources that will improve how we can work with our clients. And more importantly, they have shown us how well they understand the unique needs of financial institutions. We feel that with LPL we have a great opportunity to reach more members with a deeper level of support.”
Craig Kamis, LPL Financial executive vice president, Institutional Business Development, said, “We are committed to the programs and advisors we serve, and understand the unique opportunities bank and credit union-based programs have. We strive to help them capitalize on the value they already have with members to be able to provide investment services that create even stronger relationships with their institution. We welcome the Suffolk Wealth Management team to LPL’s platform and look forward to a long relationship.”
Read about other firms that recently joined LPL in the News and Media section of LPL.com.
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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 (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC).
Insurance products are offered through LPL or its licensed affiliates. To the extent you are receiving investment advice from a separately registered independent investment advisor, please note that LPL is not an affiliate of and makes no representation with respect to such entity.
If your advisor is located at a bank or credit union, please note that the bank/credit union is not registered as a broker-dealer or investment advisor. Registered representatives of LPL may also be employees of the bank/credit union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, the bank/credit union. Securities and insurance offered through LPL or its affiliates are:
*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.
LPL Financial, Suffolk Wealth Management and Suffolk Federal are separate entities.
**Based on total revenues, Financial Planning magazine June 1996-2019