CHARLOTTE, N.C. – Nov. 19, 2019 – LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced that RD’s Financial Strategies has joined LPL Financial’s broker-dealer and corporate registered investment advisor (RIA) platforms. The San Jose, Calif.-based team has aligned with The Financial Services Network, an enterprise firm offering support and resources to LPL-affiliated financial advisors. They reported having served approximately $200 million in brokerage, advisory and retirement plan assets*. They join from Avantax Investment Services, Inc., part of Blucora.
For four decades, Robert Duitz has been a leading tax strategist and national speaker on tax issues, having once served on the Internal Revenue Service Commissioner’s Advisory Group to influence tax policies. In 1998, he expanded his services to include financial advice and wealth management, launching RD’s Financial Strategies to help clients in Silicon Valley with a broader range of services to address their complex financial situations. His business model includes two distinct practices: financial advice and tax preparation. “I’ve found that when clients understand the tax consequences of their investments, they become more comfortable with us managing their money,” said Duitz, a federally authorized enrolled agent.
Duitz’s wife, Lena Ortega-Duitz, and son-in-law, Jason Marino, are licensed advisors who support both the tax and financial side of the business, while his daughter, Teresa Marino, manages Human Relations for the practice. Duitz’s 10-member team also includes additional financial advisors, administrative support staff members and tax partners who are also enrolled agents.
Technology Brings RD’s Financial Strategies to LPL
Duitz joined LPL Financial in large part for its technology resources. He said, “LPL’s technology is user friendly, and the integration streamlines so much work and will help our team be much more efficient. With easier bulk-trading capabilities, I’m convinced that some processes that previously took several days can now be completed in less than a few hours.”
Christopher Mercado, managing partner and chief investment strategist with The Financial Services Network, said, “We are delighted to welcome Bob and his team to The Network. It is remarkable what he has built – thriving multigenerational wealth management and tax consulting firms. With his wife, daughter and son-in-law actively involved in the business, the family is able to offer a compelling solution that serves the broad needs of their clients. Our team is eager to support them through The Network’s service model to create an optimal work-life balance for all.”
Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, said, “We welcome Bob and team to the LPL family. With the partnership of LPL and team at The Network, they will have access to technology and resources that can help transform how they operate their business and enhance their value with clients. And as their long-term partner, we will make ongoing investments so that they continue to have access to solutions and services that meet their relevant needs and help them differentiate their businesses. We look forward to a long and successful partnership with the RD’s team.”
Read about other firms that recently joined LPL in the LPL Financial News and Media section of LPL.com.
Advisors, explore all the opportunities that affiliating with LPL Financial can bring by speaking with a recruiter today.
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.
RD’s Financial Strategies, The Financial Services Network and LPL Financial are separate entities. Tax services offered at RD’s Financial Strategies are entirely separate and apart from LPL Financial.
*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