Brian Lynn’s First Year of Independence as a Financial Advisor

Brian Lynn reflects on how LPL Financial helped him transition into being an independent advisor

When Brian Lynn and his partner Jim Pacheco started Claritas Financial Partners, they drafted a list of principles to help them guide their practice. Two of the core tenets were clients and community.

“When we were at our previous wirehouse, we felt they lost their way, and no longer focused on the client,” Brian said. When the partners discussed what they wanted to accomplish at their firm, they agreed on making client experience their number one focus.

“We wanted to create a better client experience, and find a better home for our clients. When we set out on the journey to do that, it really opened our eyes to what was out there, which ultimately led us to LPL,” he said.

Bringing their vision to life

The firm found the support it needed to transition from wirehouse to independent financial advisor in LPL Strategic Wealth Services. They provide an elevated service offering for independent-minded advisors looking for more support in day-to-day business operations.

In fact, LPL helped Brian implement many of the ideas he had about starting an independent firm.

“I woke every night at 3:00 a.m. with crazy ideas running through my mind. Everybody at LPL took the time to really listen to those crazy ideas, then even took the time to help manifest them, help create them, give feedback, and hold me to them, he said.”

When it came to naming and branding the firm, Brian and his team relied heavily on LPL’s guidance.

“It was really hard to come up with a name of a company, and we were floating around a few different ideas. The marketing consultants at LPL really took the time to listen, and to interview us about what we were looking for,” he said.

They landed on Claritas Financial Partners, with a value proposition that revolves around one word — clarity. “We want to bring clarity to the financial lives of our clients,” Brian said.

The value of a smooth transition

Before becoming independent advisors, Brian and his partners conducted extensive research on custodians, clearing agents, and various supervision models. The LPL Strategic Wealth Services model offered all of the capabilities they were seeking in one package, making it especially attractive to the team. “It would simplify us so that we could focus on the best interest of our clients,” he said.

One of the LPL Strategic Wealth Services features Brian and his team enjoys the most is the built-in technology consultant. “We have a resource that allows an expert to work with us to select the best third-party software and tools that are available to us,” he said.

According to Brian, LPL Strategic Wealth Services checks every box on his firm’s pre-move checklist and helps them facilitate the basics of custody of assets and supervision. “The clearing fees were simplified so that we were not nickel-and-diming clients. The package extended further to include technology, marketing, legal, branding — all those things that we didn't even know about,” he said.

They also had access to real estate consultants to assist with the logistics of building of their own physical space, help negotiate their lease, and provide input on the office’s architectural design. Because the consultants worked directly with the builders, Brian and his team were able to maintain their focus on their clients.

The firm also benefits from their LPL business consultant – an integral part of his team who helps them envision the big picture. “Sometimes being a managing partner of a firm can be a bit of a burden. The business consultant helps me create our goals. He also holds us accountable to those goals,” Brian said. 

LPL Marketing Solutions exceed expectations

The marketing support Claritas received was also integral in their transition to running an independent business. “The most helpful part of the Marketing Solutions team is they feel like a member of our team. They are actively looking for opportunities for us to market in the community. That's the part I was not expecting. That's where they have exceeded our expectations,” Brian said.

Independence suits them

With their first year as independent advisors under their belt, Brian and his partners are pleased with their progress so far. “We've been independent for one year and we've already received more referrals than we have in the last 10 years at the wirehouse. I think our clients are proud of us for making the move as well,” he said.

“LPL helps us accomplish our main goal, which is placing our clients’ interests ahead of our own. I have been very, very impressed with LPL, especially with the fact that they understand who the true client is, which is our clients.”

The views and opinions expressed by the LPL Financial Advisor(s) are as of the date of the recording. These views may not be representative of the views of other Financial Advisors and are not indicative of future performance or success. Neither LPL Financial nor the LPL Financial Advisor can be held responsible for any direct or incidental loss incurred by applying any of the information offered.

Claritas Financial Partners and LPL Financial are separate entities.