First Quarter 2017 Recruiting Advisor LPL Financial

LPL Financial Provides Update on First Quarter 2017 Advisor Recruiting

May 11, 2017

LPL Financial

Leading retail investment advisory firm and independent broker/dealer LPL Financial today provided an update on financial advisors who chose to affiliate with the firm in the first quarter of 2017.

CHARLOTTE, N.C. –  May 11, 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 provided an update on financial advisors who chose to affiliate with the firm in the first quarter of 2017.

Select new advisors, their approximate respective assets served* as of a recent date prior to joining LPL, and their (former firm) include:

$100M+

  • Clayton Abel, Kit Leary, Christopher Mathwig, Wesley McKenna and Bobby Parham, Charleston, S.C. (Nationwide Securities LLC)
  • Ronald Austin, Lafayette, Ind. (H.D. Vest Investment Services)
  • Viola Bai, Wen Chang, Yu Shuang Chang, Cynthia Chen, Tsunghsin Chen, Vivian Cheung, Yen Chi, Wen Dai, Sharon Ding, Grace Guo, Mei Guo, John Heller, Theodore Hsu, Kitty Hu, David Kang, Shu Yuan Lai, Lydia Lam, Grace Law, Elizabeth Lee, Joseph Lee, Susan Li, Hsiao Ing Lin, Kao Sheng Lin, Ming Mei Lin, Waylon Lin, Georgia Lo, Cindy Mo, Leon Qian, Ronald Rong, Yali Sheneman, Sammy Shih, Tim Su, Jack Sun, Joanna Tang, Jay Weng, Joanne Weng, Irene Williams, Mandy Wong, Erica Wu, Julie Xiang, Josephine Yang, Candy Zhang, Sean Zhang, Jackson Zhao and Yvonne Zhong, Los Angeles (Cetera Investment Services LLC)
  • Kristi Baker, Kelli Davis and Joseph Van Deusen, Indianapolis (MML Investors Services LLC)
  • Bradley Bakken, Tim Bush, Sean Deichert, Katharine Eggiman, Paul Fleming, Melissa Hexum, Kelly Hubrig, Gregory Johnson, Ryan Johnson, Michael Kobbervig, John Kuhn, Lisa Moe, Cody Reiland, Craig Samuelson, Paula Swanson, Steven Swanson and Tammy Wood, Fargo, N.D. (Cetera Investment Services LLC)
  • Christopher Bates, Santa Rosa, Calif. (J.P. Morgan Securities LLC)
  • Jeb Brown and Bruce Williams, Paso Robles, Calif. (Blakeslee and Blakeslee Inc.)
  • David Bushnell, Anthony Tomasula and Robin Tomasula, Williamsville, N.Y. (MML Investors Services LLC)
  • James Degaetano, Carlisle, Pa. (First Command Financial Planning Inc.)
  • Susan Garbarino, Brent Kalka, Craig Tower and Curtis Wiedeman, Elgin, Ill. (1st Global Capital Corp.)
  • Michael Garden, Alexandra Kurth, Craig Kurth, Herman Lall, Jared Reynolds, Christopher Wade, Carroll Wilkerson and Ryan Wilkerson, Kansas City, Mo. (Waddell & Reed Inc.)
  • Dustin Granger, Lake Charles, La. (Wells Fargo Advisors LLC)
  • Jason Horg, Sandra Horg and Devin Shaeffer, Fresno, Calif. (Capital Financial Services Inc.)
  • Michael Krumholz and Shelia Little, Reading, Pa. (Cambridge Investment Research Inc.)
  • Gavin Lodge, Harry Lodge and Christopher Noyalis, Tucson, Ariz. (Securian Financial Services Inc.)
  • Adriane Lowe, Roy Moon and Anthony Turcotte Jr., Westlake Village, Calif. (MML Investors Services LLC)
  • Timothy Mahieu and Sara Schauermann, Cody, Wyo. (Wells Fargo Advisors LLC)
  • Jeff McElroy and Shawn Peschke, Oklahoma City (Arvest Asset Management)
  • Carlos Mendoza, Fairfield, Calif. (Wells Fargo Advisors LLC)
  • Cella Quinn, Omaha, Neb. (FSC Securities Corporation)
  • Mitchell Reinhardt, Fresno, Calif. (Capital Financial Services Inc.)
  • Louis Wray, St. Peters, Mo. (Edward Jones)

$50M-$99M

  • Sima Alefi, San Diego (Wells Fargo Advisors LLC)
  • Curt Beyer, Escondido, Calif. (RBC Capital Markets LLC)
  • Timothy Blattner, Denmark, Wis. (MetLife Securities Inc.)
  • Jason Borrasso and Richard Ganim, Beachwood, Ohio (MetLife Securities Inc.)
  • Anthony Bui and Quan Luu, Houston (Wells Fargo Advisors LLC)
  • Michael Coleman, Golden, Colo. (Ameriprise Financial Services Inc.)
  • Thomas Collins and David Pittinos, Stuart, Fla. (1st Global Capital Corp.)
  • Laura Fasan, Oak Lawn, Ill. (Infinex Investments Inc.)
  • Paul Guerra, Canton, Ohio (Wells Fargo Advisors LLC)
  • Jonathan Heacock, Spokane, Wash. (Foresters Equity Services Inc.)
  • Adam Heckman, Louisville, Ky. (Fifth Third Securities Inc.)
  • Fredrick Kelley, Omaha, Neb. (MML Investors Services LLC)
  • Mandir Nagdev, Los Gatos, Calif. (Wells Fargo Advisors LLC)
  • Robert Mills, Westlake Village, Calif. (Morgan Stanley)
  • Stephen O’Hara, Northbrook, Ill. (Purshe Kaplan Sterling Investments)
  • Scott Pilchard, Phoenix (Manning & Napier Investor Services Inc.)
  • Charles Schreader, Camp Hill, Pa. (Wells Fargo Advisors LLC)
  • Christopher Smith, Cedarburg, Wis. (Robert W. Baird & Co Inc.)
  • Grant Ulrick, Danbury, Conn. (Wells Fargo Advisors LLC)
  • Todd Vander Lugt, Holland, Mich. (Waddell & Reed Inc.)
  • Steve Ward, Mt. Pleasant, S.C. (SunTrust Investment Services Inc.)
  • James Webb, Rockwall, Texas (Edward Jones)
  • Timothy Weishorn, Greenburg, Wis. (Wells Fargo Advisors LLC)
  • Kevin Yingst, Rogers, Ark. (Edward Jones) 

$30M-$49M

  • Richard Adams, Midlothian, Va. (Securities America Inc.)
  • Paul Baily, Spartanburg, S.C. (Edward Jones)
  • James Blake, Houston (Wunderlich Securities Inc.)
  • Matthew Boelter, Seattle (Voya Financial Advisors Inc.)
  • Leslie Castillo, San Diego (D.A. Davidson & Co.)
  • Nate Chittick, El Segundo, Calif. (Cetera Advisors LLC)
  • David Cohen, Mount Pleasant, S.C. (Merrill Lynch Professional Clearing Corp.)
  • Ellen Coppinger, Oak Ridge, Tenn. (CUNA Brokerage Services Inc.)
  • Peter Donohoe, Wellesley, Mass. (Citizens Investment Services)
  • Katherine Fibiger, Westport, Conn. (MetLife Securities Inc.)
  • Pastor Fuster. Jr., Miami Lakes, Fla. (Wells Fargo Advisors LLC)
  • Paul Hilliard, Naperville, Ill. (Cetera Advisors LLC)
  • Andrew Huber, Houston (First Command Financial Planning Inc.)
  • Rick Kazanjian, Fresno, Calif. (Capital Financial Services Inc.)
  • Aaron Klemm, Grand Rapids, Mich. (Merrill Lynch, Pierce, Fenner & Smith Inc.)
  • Jon Knapp, Eureka, Ill. (H. Beck Inc.)
  • Diana Lougen, Williamsville, N.Y. (M&T Securities Inc)
  • Robert Makela, Phoenix (Wells Fargo Advisors LLC)
  • Colin Maulding, Canby, Ore. (Edward Jones)
  • Michael Nili, Fresno, Calif. (Wells Fargo Advisors LLC)
  • Mark Norton, Wooster, Ohio (Voya Financial Advisors Inc.)
  • Dave Reed, Denison, Texas (Raymond James Financial Services Inc.)
  • Jennifer Russell, Houston (Merrill Lynch, Pierce, Fenner & Smith Inc.)
  • Jason Stanfield, Grand Junction, Colo. (Waddell & Reed Inc.)
  • Aurea Wangerien, Eatontown, N.J. (Edward Jones)
  • Jonathan White, Westminster, Colo. (Edward Jones)
  • Eddie Zavala, Houston (First Command Financial Planning Inc.)

“Our first quarter recruiting results affirmed that LPL is a destination of choice for independent financial advisors seeking to grow their businesses,” said Bill Morrissey, LPL managing director and divisional president, Business Development. “As the regulatory environment evolves, advisors are seeking a firm that can be a source of stability and can offer a platform for growth. We have invested in capabilities that differentiate our advisors in the retail space to help them grow. Those investments have included expanding our technology capabilities and enhancing our advisory platform so advisors can serve more clients with differentiated solutions. And we believe the work we have done to prepare for the impending DOL fiduciary rule is industry-leading and will enable our advisors to remain competitive. Our commitment to the infrastructure, resources and technology to support advisors as the industry continues to evolve has clearly resonated in the marketplace. We are positioned well now and into the future to be able to support advisors in their delivery of objective financial advice that serves their client’s best interest.”

*Each individual advisor asset number was reported by the advisor based on prior business, includes both brokerage and advisory assets, 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 May 11, 2017. 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 2016 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 May 11, 2017.

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 $530 billion in brokerage and advisory assets as of March 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 1996-2016), 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 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. Financial advisors associated with LPL also serviced an estimated 46,000 retirement plans with an estimated $135 billion in retirement plan assets, as of March 31, 2017. Additionally, LPL supports approximately 3,900 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have more than 3,300 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.

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Media Contact:

Lauren Hoyt-Williams

980-321-1232

Lauren.Hoyt-Williams@lpl.com