LPL Financial and Wealth Consulting Group Welcome Financial Advisor Joel Drake
“With the vast resources that LPL offers, combined with the team approach and additional support from The Wealth Consulting Group, Pam and I believe we are going to be able to provide the very best possible experience for our clients.” – Joel Drake
CHARLOTTE, N.C. – May 5, 2021 – LPL Financial LLC today announced that financial advisor Joel Drake has joined LPL Financial’s broker-dealer, hybrid registered investment advisor (RIA) and custodial platforms, aligned with The Wealth Consulting Group, an existing LPL-affiliated OSJ group. He reported having served approximately $200 million in advisory, brokerage and retirement plan assets*. Drake joins LPL from FSC Securities, part of the Advisor Group network of broker-dealers.
Drake’s career in the financial services industry began in 1991, right out of college. He built a practice focused on helping pre‐retired and retired individuals, as well as corporations seeking advice and consulting services with an emphasis on retirement, tax, investment and estate planning. Drake and his longtime assistant Pam Traeger have joined The Wealth Consulting Group branch in his hometown of Des Moines, Iowa.
“I’m a firm believer that my clients are better served when they can make informed decisions, and I take pride in our ability to turn complicated concepts into understandable action items,” said Drake, a member with Retirement Plan Advisory Group, an organization made up of accomplished financial professionals with a goal of producing enhanced value for sponsors of and participants in qualified and non-qualified retirement plans.
Additional resources and enhanced services
Drake turned to LPL and The Wealth Consulting Group looking for additional resources to help differentiate his practice and enhance the service experience for his clients. He said it was also important to join a publicly traded company committed to investing in its partners.
“With the vast resources that LPL offers, combined with the team approach and additional support from The Wealth Consulting Group, Pam and I believe we are going to be able to provide the very best possible experience for our clients,” Drake said, also noting that the move puts him in a better position to eventually bring on a junior advisor.
Jimmy Lee, CEO of The Wealth Consulting Group, stated, “I’m very happy to have the opportunity to support a friend and former colleague. Joel has built an amazing practice that is solely client focused. He’s a great addition as a partner to our existing WCG branch in Des Moines.”
Scott Posner, LPL executive vice president, Business Development, said, “We welcome Joel and Pam to LPL and congratulate The Wealth Consulting Group on its continued growth. At LPL, we are committed to providing our advisors with the leading capabilities and resources designed to help them serve their client’s comprehensive wealth management needs. We will continue to invest and innovate to deliver the tools and technology that empower advisors to differentiate their practice and grow their business in the way that adds value to the clients they serve. We look forward to a long-lasting partnership with Joel and The Wealth Consulting Group.”
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 18,000 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.
The Wealth Consulting Group, Retirement Plan Advisory Group and LPL Financial are separate entities.