CHARLOTTE, N.C. – Sept. 25, 2019 – LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced that five financial advisors with Chesapeake Investment Planning have joined LPL Financial’s broker-dealer and corporate registered investment advisor (RIA) platforms. They reported having served approximately $150 million in brokerage, advisory and retirement plan assets*. They join from Kestra Financial.
President Todd Wilhoit founded the practice in 2009, partnering with LPL until 2013. Wilhoit and team decided to return to LPL this year after learning about the firm’s ClientWorks Connected integrated technology platform and hearing from other LPL advisors about service enhancements tied to the firm’s cultural transformation.
“With ClientWorks Connected, so many resources are all integrated into one workflow. I’m not having to log into three different systems to do one thing, or switch software. It’s a game changer, and it will greatly enhance the experience for my clients,” Wilhoit said. “Since coming back to LPL, I’ve also been so impressed with the company’s service transformation. The transition team has been outstanding and it’s clear that LPL has made it a priority to offer differentiated service and support.”
Joining Wilhoit at Chesapeake Investment Planning are fellow financial advisors and fishing buddies Jay Bogaczyk, Jeremy Meyer, Tommy Painter and Adair Tyler; all started their careers in the banking industry. Office support is provided by Megan Penn and Amber Kemens.
Located in a small island in Stevensville, Md., just 30 minutes from Washington, D.C., most of their clients are government employees and contractors looking for personalized strategies for retirement, investment management and insurance planning. “We have a service-focused practice, and we’ve found that a team approach can be an effective method to help clients who have a wide variety of needs as they maneuver through a complex financial-services world,” Wilhoit said.
Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, said, “We are thrilled to welcome the return of Todd and the Chesapeake Investment Planning team. We are proud that they recognized that we have the stability to serve as a long-term partner for their firm and clients. LPL is committed to making investments in the technology and capabilities that will help them continue meeting the evolving needs of their clients and continue to build their business with long-term value in mind.”
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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, a registered investment advisor. Member FINRA / SIPC.
Chesapeak Investment Planning 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 1996-2019