CHARLOTTE, N.C. – Sept. 10, 2020 – LPL Financial LLC, a leading retail investment advisory firm, independent broker-dealer and registered investment advisor (RIA) custodian, today announced that financial advisor Anthony “Tony” Frigoletto has launched his new independent practice, River’s Edge Wealth Partners, affiliating with LPL Strategic Wealth Services, LPL’s new affiliation model designed to support the unique needs of veteran advisors seeking independence. River’s Edge Wealth Partners will leverage LPL’s broker-dealer, corporate RIA and custodial platforms, while also receiving ongoing business management services and support from LPL. Frigoletto reported that his team served approximately $500 million in advisory, brokerage and retirement plan assets*. They join from Wells Fargo Advisors.
Founding River’s Edge Wealth Partners allows Frigoletto to operate as a family office where he can offer objective advice and make business decisions based on the best interests of his clients. “LPL’s new affiliation model really appealed to me. It allows me to be an independent advisor but solves for the business operational needs. This is the lean-in, straightforward approach I was looking for, and it allows me to utilize my strengths to lead our team and cultivate meaningful relationships with our clients,” Frigoletto said.
He is joined in the Red Bank, N.J.-based practice by financial advisor Jayeeta Choudhury, vice president, as well as his wife, Nicole Adler-Frigoletto, director of planning. They are assisted by three office support members. The team provides financial planning, investment management, philanthropic guidance and education for its client base of professionals, including many doctors, small business owners and affluent families. “Our entire focus is the client—their financial goals, their legacy and setting them up for success in retirement,” said Frigoletto, who has been published in Forbes and Barron’s as a top advisor in New Jersey.
The move to LPL opens the door for Frigoletto to build a firm where he can utilize more strategic partners that can help provide his clients with greater holistic service. “LPL Financial is a market leader with an independent platform that lets me serve clients in the ways that I see fit. As a partner with scale, it’s clear that LPL is committed to investing in innovative capabilities and business support that will position our firm for a successful future,” Frigoletto said.
Committed support from the launch, and every day forward
By affiliating with LPL Strategic Wealth Services, the team gains access to LPL’s innovative platforms and technology, along with personalized support and resources to launch their business, including help with sourcing real estate, creating their new brand and transitioning their business to the LPL platform. The firm also receives ongoing support from dedicated professionals that can help them manage their business efficiently and productively on an ongoing basis. This executive support team includes business consulting and administrative services, hands-on marketing support, a CFO for business management analysis, technology resources and a dedicated customer care team.
The River’s Edge team is very excited about its new office in the old Mechanic Street elementary school, which has been renovated to reflect a modern look while retaining its industrial feel. “We were drawn to this location for its historical charm. It captures the spirit of our city’s commercial and educational transformation and creates a perfect venue for the unveiling of River’s Edge Wealth Partners,” said Frigoletto, a long-time board member of Family & Children Services of Monmouth County. “Like a river, a person’s financial life can often have twists and turns. But if you have a plan and a trusted guide, you can stay on course to reach your financial destination.”
Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, said, “We extend a warm welcome to Tony and the entire River’s Edge Wealth Partners team. We applaud them for their dedication to their clients. They have invested years into growing meaningful relationships, and have found themselves at a point where they are ready to step into their fullest potential. As they begin on an exciting new journey with LPL, we will be with them every step of the way—from walking into their new office and launching their start-up to supporting them with dedicated partners managing business operations. They’ll also have access to broader investment options, improved technology and differentiated service experience. At LPL, we strive to make independence attainable by removing hurdles and creating solutions that can be customized to suit the need of each business we support, because we believe advisors deserve access to the freedom and flexibility that enables them to serve their clients well and build a business with value. We look forward to a long-lasting partnership with River’s Edge Wealth Partners.”
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 LLC, a registered investment advisor. Member FINRA / SIPC.
River’s Edge Wealth Partners 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
Barron’s* recognized him in 2014 as one of America’s top 1,200 Financial Advisors. Barron’s Top 1,200 Advisors is based on assets under management, revenue produced for the firm, regulatory record, quality of practice and philanthropic work.
Forbes recognized him in 2018, 2019 and 2020 as a Best-in-State Wealth Advisor for New Jersey. The Forbes Best-in-State Wealth Advisor ranking, developed by SHOOK Research, is based on in-person and telephone due diligence meetings and a ranking algorithm that includes client retention, industry experience, review of compliance records and firm nominations as well as quantitative criteria, including assets under management and revenue generated for their firms. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK Research receives a fee in exchange for rankings.
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.