CHARLOTTE, N.C. – April 8, 2021 – LPL Financial LLC today announced that Woods Financial Group has joined LPL Financial’s broker-dealer, corporate registered investment advisor (RIA) and custodial platforms. The firm reported having served approximately $130 million in advisory, brokerage and retirement plan assets*. They join LPL from Concorde Investment Services.
Based in Fort Worth, Texas, Woods Financial Group was founded by Joel Woods in 1986, with fellow financial professional Mark Smith joining the business in 2004. Together, they provide comprehensive wealth management to retired individuals and multigenerational families, often taking extra measures to ensure their clients have a better understanding of the financial concepts behind investing and retirement planning. They are assisted by three dedicated office support staff members.
Why Woods Financial Group chose LPL
Looking for opportunities to enhance their business continuity plan, the team turned to LPL. Woods said LPL’s vast network of advisors puts his team in a better position to expand their business and bring a younger financial advisor into the practice to ensure clients are taken care of well into the future. “We built our entire business on referrals and take great pride in taking care of our clients,” Woods said. “My clients know I’m of retirement age and they want to know what’s going to happen going forward. We’re already working with LPL’s M&A team to find a like-minded advisor who can come in and continue the work we started decades ago.”
Woods added, “LPL checks all the boxes, providing access to products and resources that we weren’t exposed to before, as well as innovative technology that allows clients to easily access their accounts and reports. Everything about this move was made with our clients best interests in mind.”
Scott Posner, LPL executive vice president, Business Development, said, “We welcome Joel and Mark to the LPL family and wish them great success in the next chapter of their journey. We are inspired by their foresight to develop a thoughtful business continuity plan that is guided by their commitment to their clients. We share that commitment of being a partner for the long run. That’s one of the reasons we recently launched LPL’s M&A Solutions, which provides a trusted partner and end-to-end support to guide advisors throughout the mergers and acquisition process. Our advisors are our entire focus, and we are committed to making continuous investments in innovative capabilities such as this to help them protect their legacy and take care of their clients well into the future.”
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.
Woods Financial Group and LPL Financial are separate entities.