San Diego-Based High-Net-Worth Advisory Firm With $525 Million in Client Assets Transitions to LPL Financial to Gain Greater Investment Freedom, innovative Technology and Other Benefits
SAN DIEGO, Nov. 03, 2015 (GLOBE NEWSWIRE) -- 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 Brown Wealth Management Group, an independent financial advisory firm, has joined LPL's Financial broker-dealer platform. In addition, Brown Wealth Management Group has affiliated with Stratos Wealth Partners, Ltd., an independent advisor network on LPL's hybrid RIA platform. Brown Wealth Management Group reported that, based on prior business, its advisors served $525 million of client assets, as of Sept. 15, 2015*.
Based in San Diego, Brown Wealth Management Group is led by Jeffrey A. Brown, president, an industry veteran with more than 20 years of financial advisory experience. The firm has two additional wealth advisors, Patrick Ford and Tyler Morris, and is supported by three additional team members including Allison Williams, CFP®, who serves as chief operating officer.
"We are excited about our choice to join LPL Financial and Stratos Wealth Partners," said Brown. "Our clients are predominantly professionals at the cutting edge of their industries who have expectations that they receive financial services that are just as cutting edge. LPL's open-architecture platform enables us to provide clients with objective financial advice and access to a wide range of financial products and services and non-proprietary investment solutions. And the versatility and integration of LPL's technology platform enables us to readily access each client's complete financial picture in order to provide truly comprehensive financial planning."
Brown Wealth Management Group provides customized solutions, primarily on a fee basis, for high-net-worth investors with complex wealth management issues. Serving a client base comprised of executives, engineers and scientists in the technology and biotech industries, particularly in the San Diego region, the firm helps clients define their financial dreams, address what is most important to them, and then provides a full range of financial strategies, tactics and tools to help them strive to reach their goals. Brown Wealth Management Group's services include comprehensive investment planning and asset management, portfolio management, estate planning and trust services**, and services for executives and businesses, including corporate and employee stock-options strategies and services, business succession planning, liquidity events planning, and retirement and pre-retirement planning, among others.
"We are also pleased to align with Stratos Wealth Partners," Brown concluded. "Joining Stratos provides us access to personalized practice support services and the Stratos network of advisors, which is a community of like-minded advisors dedicated to building their businesses, doing more for their clients and thinking outside the box."
"We welcome Jeff Brown and his team," said Steve Pirigyi, executive vice president of business development at LPL Financial. "Brown Wealth Management has grown steadily within an attractive niche market, and we look forward to supporting them with the tools and resources to serve their clients and grow their business."
*Asset numbers were reported by Brown Wealth Management Group based on prior business and have not been independently and fully verified by LPL Financial.
**LPL Financial representatives offer access to trust services through The Private Trust Company N.A., an affiliate of LPL Financial.
About Brown Wealth Management Group
Brown Wealth Management Group's mission is to help clients become financially independent, allowing them to determine the best use of their time, talents and resources. Its team of experts employs holistic financial planning techniques that go beyond simple money management. They consider clients' financial lives in their entirety and offer wealth planning, portfolio management, financial coordination, estate planning, tax management and liquidity event services. The group's clientele consists of sophisticated, high-net-worth individuals, executives and their families who are looking for a partner in helping them pursue their financial goals. For more information, visit www.brownwealthmgt.com.
About Stratos Wealth Partners
Headquartered in Beachwood, Ohio, Stratos Wealth Partners works solely to facilitate the success of more than 180 independent financial advisors nationwide. The firm provides experienced financial advisors with a reliable infrastructure and resources that allow them the flexibility to develop and grow their own businesses. Stratos Wealth Partners offers operational, strategic and consulting resources to advisors who are interested in going independent or are already independent. With more than 75 executive, functional and support professionals in place, the firm has assembled a concierge team to assist their advisors in bringing full-service strategies to their clients. For more information, please visitwww.stratoswealthpartners.com.
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the retail financial advice market and currently serves $462 billion in advisory and brokerage assets. LPL is one of the fastest growing RIA custodians and is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine June 1996-2015). The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 independent financial advisors and over 700 banks and credit unions, enabling them to help their clients turn life's aspirations into financial realities. Advisors associated with LPL also service an estimated 40,000 retirement plans with an estimated $115 billion in retirement plan assets, as of September 30, 2015. LPL also supports approximately 4,300 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,413 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.
Additional investment advice offered through Stratos Wealth Partners, a registered investment advisor.
Brown Wealth Management and Stratos Wealth Partners are separate entities from LPL Financial.
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Source: LPL Financial
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