CHARLOTTE, N.C. – Aug. 29, 2017 – Leading retail investment advisory firm and independent broker/dealer LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today announced that Barton Spector Wealth Strategies has joined LPL’s broker/dealer platform and aligned with Stratos Wealth Partners, an independent advisory firm on LPL’s hybrid registered investment advisor (RIA) platform. Barton Spector Wealth Strategies reported that, based on prior business*, its advisors served approximately $311 million of client brokerage and advisory assets, as of July 28.
Based in Scottsdale, Ariz., Barton Spector Wealth Strategies includes two advisors, Sharon Barton and Jay Spector, CFP®. The firm focuses on retirement income planning to support retirees’ financial goals through various income cycles. The team aims to continue to grow their business with the addition of new advisors to offer more services to clients, including innovative investment strategies to multi-generational clients.
“As financial advisors, being able to offer a diverse range of products to our clients is of the utmost importance,” said Barton, a 31-year veteran at a single wirehouse. “Continued business and culture changes were limiting our ability to support our clients. The implementation of the Department of Labor rule ultimately became the impetus for us to make the move to the independent model so we could have what we needed to operate our business successfully and in the best interest of our clients. LPL’s scope and breadth of support, platforms and product access, technology and practice management resources made it the best choice for us to be able to continue to serve our clients with the service level they have come to expect.”
Jay Spector added, “We wanted to ensure we had the best partner for our business needs as well as one that would make the transition to independence as seamless as possible. LPL and Stratos offered combined support to minimize disruption to our clients and provide the structure for our ongoing and future success.”
“We believe the impact that the changing regulatory environment is having on advisors and the way they need to evolve their businesses is driving more advisors to the independent model,” said Steve Pirigyi, LPL executive vice president of Business Development. “For Sharon and Jay, who are committed to investor choice and their firm’s continued growth, LPL offers investment solutions designed to maintain choice for their clients. We are proud that they recognized LPL as a leading player in the independent space.”
"The team at Stratos is excited to welcome Barton Spector Wealth Strategies,” said Bobbie Meola, managing partner, Stratos Wealth Partners. “The relationship between LPL and Stratos gives Sharon and Jay the ability to focus on what is most important to them: their clients. We look forward to supporting their continued success.”
*Asset numbers were reported by Barton Spector Wealth Strategies based on prior business and have not been independently and fully verified by LPL Financial.
About LPL Financial
About LPL Financial LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the retail financial advice market and provided service to approximately $550 billion in brokerage and advisory assets as of July 31, 2017. LPL is one of the fastest growing RIA custodians and the nation’s largest independent broker-dealer (based on total revenues, Financial Planning magazine June 1996-2017), and the firm and its financial advisors were ranked No. 1 in net customer loyalty in a 2016 Cogent Reports™ study. The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 financial advisors and over 700 financial institutions, enabling them to provide a range of financial services including wealth management, retirement planning, financial planning and other investment services to help their clients turn life’s aspirations into financial realities. As of June 30, 2017, financial advisors associated with LPL served more than 4 million client accounts across the U.S. as well as an estimated 46,000 retirement plans with an estimated $138 billion in retirement plan assets. Additionally, LPL supports approximately 3,700 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have more than 3,400 employees with primary offices in Boston, Charlotte, and San Diego.
Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC.
Investment advice also offered through Stratos Wealth Partners, Ltd., a registered investment advisor and a separate entity from LPL Financial.