SAN DIEGO, Aug. 27, 2015 (GLOBE NEWSWIRE) -- LPL Financial LLC, the nation's largest independent broker-dealer*, a custodian for registered investment advisors, and a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), today provided an update on the financial advisors who chose to affiliate with the firm in the second quarter of 2015.
Select new advisors, their approximate respective assets served** as of a recent date prior to joining LPL and their (former firm) include:
$100M+
- Robert Brown and Timothy Aubin, Gretna, La. (J.P. Morgan Securities)
- Paul Carlson, Canby, Ore. (Edward D. Jones & Co)
- Rhonda Chavez, Michael Woods and Kevin Pitts, Prescott, Ariz. (Wells Fargo Advisors)
- Mark Cross, John Caldwell and Jason Norton, Athens, Ga. (Wells Fargo Advisors)
- Frank DelBusto, Doral, Fla. (TIAA-CREF)
- Bryan Foronjy, San Luis Obispo, Calif. (Fidelity Brokerage)
- John Grose, Tierra Verde, Fla. (Charles Schwab & Co. Inc.)
- Brian Hinson, Huntsville, Ala. (Lincoln Financial Advisors)
- Brandi Holmes, Plano, Texas (Fidelity Brokerage)
- Thomas Kennedy, Cleveland (Royal Alliance)
- Jon Marzano, Arthur Marzano and Steven Gallo, Clemmons, N.C. (Wells Fargo Advisors)
- Michael Palace, Bedminster, N.J. (Wells Fargo Advisors)
- Rick Schenck, Lafayette, La. (Capital One)
- Joseph Siciliano, Woburn, Mass. (Fidelity Investments)
- Thomas Weissenburger, Clive, Iowa (Raymond James)
- Dale Wolf, Lakewood Ranch, Fla. (Sun Trust Securities)
$50M-$100M
- John Anzaldua, Campbell, Calif. (US Bancorp Investments LLC)
- Kevin Beaudoin, Traverse City, Mich. (Morgan Stanley)
- Raymond Bennett, Draper, Utah (Royal Alliance)
- Dane Byers, Houston (Southwest Securities)
- Gary Casciola, Steven Kantz and Mark Casciola, Pittsburgh, Pa. (Invest Financial)
- Annette Crowley, Mashpee, Mass. (CCO Investment Services)
- Manus Duffy, Bayside, Calif. (Union Banc Investments)
- John Fobes II, Larkspur, Calif. (Park Avenue Securities)
- Craig Freeman, Tecumseh, Kan. (Edward D. Jones & Co.)
- Justin Gibson, Omaha, Neb. (Waddell & Reed)
- Bruce Greening, Troy, Mich. (UBS Financial Services Inc.)
- Kirby Haines, Houston (SWS Financial Services)
- Kevin Harper, Vestavia Hills, Ala. (Ameriprise Financial Services)
- Hiram Hutchison II, Rock Hill, S.C. (Invest Financial)
- Robert Johnson, Huntsville, Ala. (Lincoln Financial Advisors)
- Seth Kimmel, Huntington, Ind. (One America Security)
- Jeffrey Klein, Bend, Ore. (Wells Fargo Advisors)
- William Knudsen, Southfield, Mich. (Huntington Investments)
- Nancy Lewis-Heliotes, Napa, Calif. (Citigroup Global Markets)
- David Nifong, Concord, N.C. (Wells Fargo Advisors)
- Amy Parrish, Athens, Ga. (Silver Oak Securities, Inc.)
- Thomas Pressey, Kalamazoo, Mich. (PNC Investments)
- Adam Prewett, Plano, Texas (Voya Financial)
- Phillip Rini, Beachwood, Ohio (Wells Fargo Advisors)
- Masami Sakai, Citrus Heights, Calif. (US Bancorp Investments LLC)
- Ruben Salas, El Paso, Texas (Wells Fargo Advisors)
- Kenneth Smith, Hagerstown, Md. (Santander Securities)
- Marvin Spencer, Beaumont, Calif. (Valic Financial Advisors)
- Lee Straley-Miller, Waxahachie, Texas (BBVA Compass Investment Solutions)
- James Van Metter, Bronxville, N.Y. (Cambridge Investment Services)
- Michael Vanderhoff, Nampa, Idaho (Cetera Investment Services)
- John Wilkie, San Antonio (Wells Fargo Advisors)
- Rebecca Van Horn and Stacee Malcolm, West Linn, Ore. (Allstate Financial)
- Jack Zornes, Patrick Severson, Tyler Atkinson, Glenn Rossman and Kyle Leonard, Seattle (Voya Financial)
$30M-$49M
- Brent Arnold, Kirkland, Wash. (Allstate Financial)
- Stephanie Ayer, Walnut Creek, Calif. (Deutsche Bank Securities)
- Travis Berglund, Port Angeles, Wash. (Essex National Securities)
- Paul Carmichael, Melville, N.Y. (L.M. Kohn & Company)
- John Cottrell IV, Dallas (BBVA Securities)
- David Curry, Charlotte, N.C. (Lincoln Financial Advisors)
- Charles Davis, Effingham, Ill. (SWS Financial Services)
- Robert Dietrich, Sterling Heights, Mich. (Ameriprise Financial Services)
- Stephen Driever, Chippewa Falls, Wis. (Wells Fargo Advisors)
- Charles Eller, Des Perez, Mo. (US Bancorp Investments LLC)
- Kelly Francis, Ennis, Texas (BBVA Compass Investment Solutions)
- Jacob Franco, El Paso, Texas (Wells Fargo Advisors)
- Bruce Graev, Marco Island, Fla. (Park Avenue Securities)
- Cory Graves, Milwaukee, Wis. (Pruco Securities Corp)
- Grover Harrison, Natchez, Miss. (Sterneagee & Leach)
- Bradley Hill, Wichita, Kan. (Cuso Financial Services)
- Jeffrey Hodges, Helen Doyle and Michael Porfido, San Francisco (Ameritas Investment Corp.)
- Keith Hurst, Fayetteville, Ark. (Arvest Asset Management)
- Marshall Knight, Rockville, Md. (Stifel Nicolaus)
- Isaac Liberman, Chicago (U.S. Bancorp)
- Maurice Miller Jr., Southfield, Mich. (CCO Investment Services)
- Gerard Morda, Temple Terrace, Fla. (Summit Brokerage Services)
- John Raschella, Rockville Centre, N.Y. (J.P. Morgan Securities)
- Kelly Short, Charlottesville, Va. (Merrill Lynch)
- Billy Smith, Covington, Tenn. (Wells Fargo Advisors)
- Lonnie Smith, Memphis, Tenn. (Duncan-Williams)
- Stephen Smith, Madison, Wis. (The ON Equity Sales Co.)
- Bryan Strong, Rogers, Minn. (Feltl and Company)
- Charles Wimbish, Martinsville, Va. (Ameriprise Financial Services)
- Ronald Woody, Greensboro, N.C. (Wells Fargo Advisors)
“LPL has continued to experience advisory growth, drawing advisors of various production levels,” said Steve Pirigyi, executive vice president of business development, LPL Financial. “Our hybrid RIA platform continues to appeal to many advisors and we continue to add value to affiliation with LPL by developing new technology solutions and expanding service to our clients. Above all else, advisors appreciate that through affiliation with LPL they can provide their clients with objective financial advice to help them work toward their financial goals.”
*Based on total revenues, Financial Planning magazine, June 1996-2015
**Each individual advisor asset number was reported by the advisor based on prior business and has not been independently and fully verified by LPL Financial.
The information in this press release is not intended to update or change any of the information, including information about recruiting results, previously publicly disclosed by LPL Financial.
Forward-Looking Statements
Statements in this press release regarding LPL Financial Holdings Inc.'s (together with its subsidiaries, including LPL Financial LLC, the "Company") potential future levels of assets serviced, growth, business strategy, and plans, as well as any other statements that are not related to present facts or current conditions or that are not purely historical, constitute forward-looking statements. These forward-looking statements are based on the Company's historical performance and its plans, estimates and expectations as of Aug. 27, 2015. The words “potential,” "anticipates," "intends," "believes," "expects," "may," "plans," "predicts," "will" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are not guarantees that the future levels of assets serviced, results, plans, intentions or expectations expressed or implied by the Company will be achieved. Matters subject to forward-looking statements involve known and unknown risks and uncertainties, including economic, legislative, regulatory, competitive and other factors, which may cause levels of assets serviced, actual financial or operating results, levels of activity, or the timing of events, to be materially different than those expressed or implied by forward-looking statements. In particular, the Company can provide no assurance that the assets reported as serviced by its newly recruited financial advisors at their prior firms will translate into assets serviced at LPL. Important factors that could cause or contribute to such differences include: the choice by one or any of the clients of the Company's newly recruited financial advisors mentioned in this press release not to open brokerage and/or advisory accounts at LPL Financial and/or move their respective assets from advisor’s prior firm to a new account at LPL Financial; discovery of errors made in the calculation of assets serviced reported by the newly recruited advisor; changes in general economic and financial market conditions, including retail investor sentiment; fluctuations in the value of assets under custody; effects of competition in the financial services industry; and the other factors set forth in Part I, "Item 1A. Risk Factors" in the Company's 2014 Annual Report on Form 10-K and any subsequent SEC filing. Except as required by law, the Company specifically disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release, even if its estimates change, and you should not rely on those statements as representing the Company's views as of any date subsequent to the date of Aug. 27, 2015.
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the financial advice market and serves $486 billion in retail assets. The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,100 independent financial advisors and more than 700 banks and credit unions. LPL Financial is the nation's largest independent broker-dealer since 1996 (based on total revenues, Financial Planning magazine, June 1996-2015), is one of the fastest growing RIA custodians with $112 billion in retail assets served, and acts as an independent consultant to over an estimated 40,000 retirement plans with an estimated $120 billion in retirement plan assets served, as of June 30, 2015. In addition, LPL Financial supports approximately 4,300 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,385 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.
Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC