Fourth Quarter 2016 LPL Financial

LPL Financial Provides Update On Fourth Quarter 2016 Advisor Recruiting

March 01, 2017

LPL Financial

LPL Financial today provided an update on financial advisors who chose to affiliate with the firm in the fourth quarter of 2016.

CHARLOTTE, N.C. –  March 1, 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 fourth quarter of 2016.

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

$100M+

  • Integrated Financial Partners, Waltham, Mass. (Lincoln Financial Advisors), including Michael Aaronson, Susan Ahern-Wiercinsk, Chris Aldrich, Jennifer Anderson, Jeffrey Armstrong, Alfred Baxter, Catherine Bearce, Warren Beckman, James Biggins, Patrice Borghese, Sean Boylan, John Burke, Brad Capland, Timothy Carlson, Christopher Cavallaro, Mark Cavasino, Jameile Cawley, Leona Chan, Derek Chesley, Judith Chimenti, Felix Cincotta, Matthew Clason, Nicholas Colantuono, Stephen Colantuono, Jeffrey Cowling, Paul Culler, Ryan Damaso, Rajiv Dayal, Leal Deddens, Arthur Dedominicis, Timothy Demeritt, Richard Digennaro, Christopher Ferretti, Mark Fitzpatrick, Christopher Fletcher, Gregory Freeman, John Frongillo Jr., Peter Gaines, Howard Gerrin, Daniel Gilliland, Robert Grenus, David Grimaldi, Edwin Griswold Jr., John Harrington, Bradley Howe, Gulsanga Jalawan, Stephen Joyner, Mark Karnes, Howard Karp, Richard Kart, Andrew Kern, Cassidy King, Paul Koenig, John Kostukovich, Van Leichter, Lance Leimberg, Jeffrey Levine, Albert Li, James Littleton, Raymond Lucas, Phillip Masi, Kathleen McCullough, Kevin McGrady,  Peter McMahon, Don Meredith, Christopher Michalman, Nishan Mootafian, Marco Moretti, William Mulcahy, Timothy Murphy, Matthew Neville, Rodney Nielsen, Steven Nowicki, Richard Osman, Amy Oviedo, Clark Page, Kevin Palmieri, Stephen Parker, Anthony Pasqua, Heidi Patterson, Fernando Perez, Joseph Quinn Jr., Robert Rebussini, Robert Rice, Kenneth Richardson Jr., Andrew Ross, Joseph Sabelli, Peter Salkins, Nelson Santos, Erik Scudder, Ronald Smith, William Smith, John Smoot, Joshua Stark, Richard Stark, Dexter Stevens, Bradley Stewart, Johnathan Sudkin, Joseph Sullivan Jr., Deborah Telles, John Ulwick, David Verno, Robert Violet, Jeremy White, Shawn Wilson, Cheryl Witman and Joseph Zophin
  • John Adcock, Shawn Johnson, Joshua Miller, John Mitsos, Joseph Pantoja, Christian Pearson, Andrew Rickard, Mark Spring, Kenneth Thomalla, Jeffrey Wherry and Kevin Zduriencik, New Castle, Pa. (MML Investors Services LLC)
  • Kyle Arcand and Charlene Gregory, Chesapeake, Va. (MetLife Securities, Inc.)\
  • Barbara Barrett, Scott Barstad, Lynn Caraveau, Brian Connors, Marni Cowan, Kyle Geffre, Wesley Golie, Daniel Hancock, Bruce Haswell, J. Heizer, Jonathan Herz, David Kling, Randy Koliha, Carina Lange, Robert Leibrich, Steven Liebzeit, Jason Monroe, Chris Morin, James Morrison, Jack Murray, Molly Nelson, Randall Porter, Shawn Porter, David Rensvold, Kelsey Schmidt, Devin Scott, Mary Scott-Ehresmann, Daniel Shervin, Sarah Siderius, Matthew Sleep, Patricia Smith, Christine Stack, Linda Thompson, Robert Tooke, Evad Vanspoore, Lisa Vnoucek, Joanne Wenberg, John Williams, Robert Wilson and Cathleen Woody, Billings, Mont. (Cetera Investment Services LLC)
  • Thomas Borsellino, Orland Park, Ill. (MetLife Securities, Inc.)
  • Scott Bremus, Eric Hollifield and Jeffrey Kirkpatrick, Dacula, Ga. (Sterne Agree Financial Services, Inc.)
  • Alexander Brueske, Scott Brueske and Spencer Brueske, Bellevue, Wash. (Waddell & Reed, Inc.)
  • Jack Buckley, Lake Elmo, Minn. (Commonwealth Financial Network)
  • Jayson Capling and Robert Roar Jr., Grayson, Ky. (U.S. Bancorp Investments, Inc.)
  • Jay Champlain and Job Eagleson, Los Angeles (Ameriprise Financial Services, Inc.)
  • Colin Cissne and Stephen Cissne, King of Prussia, Pa. (Janney Montgomery Scott LLC)
  • Kelly Crane and Earl Knecht, St. Helena, Calif. (Cetera Advisors Networks LLC)
  • Travis Dauchy, Irvine, Calif. (USAA Financial Advisors, Inc.)
  • John Davis and Darla Greer, Gainesville, Fla. (Cetera Advisors LLC)
  • Eric Eaton and Brandan Teague, Tampa, Fla. (Princor Financial Services Corporation)
  • Scott Ellingson and James Lowe, Lake Elmo, Minn. (Commonwealth Financial Network)
  • Brian Fee, Charles McGue and Scott Milstein, Fort Washington, Pa. (CUSO Financial Services)
  • David Fowler, Charles Helm, Edward Herrera and Diane Whitt, Palm Coast, Fla. (Voya Financial Advisors, Inc.)
  • Kathleen Graham and Andrew Wyble, San Antonio (Wells Fargo Advisors LLC)
  • Curtis Green, Rancho Mirage, Calif. (Edward Jones)
  • Steve Hacker, Brian Menickella and Mark Schatzel, King of Prussia, Pa. (TFS Securities, Inc.)
  • Timothy Hammond, Scottsdale, Ariz. (USAA Financial Advisors, Inc.)
  • Brandy Harrington, Downers Grove, Ill. (Trust Company of Illinois)
  • Antoine Haynes, Brian Nguyen and Matthew Weaver, Fremont, Calif. (Sorrento Pacific Financial LLC)
  • Michael Hollinger, Denver (Fidelity Brokerage Services LLC)
  • Paul Kupchok, Hawthorne, N.Y. (MML Investors Services LLC)
  • Dennis Laird, Donald Lundy and John Pfaudler, Vestavia Hills, Ala. (Amerprise Financial Services, Inc.)
  • Christina Madson, Jason Priebe and Rodney Priebe, Maple Grove, Minn. (Waddell & Reed, Inc.)
  • Stephen Magana, Bloomingdale, Ill. (J.P. Morgan Securities LLC)
  • Thomas Markell, Mentor, Ohio (Wells Fargo Advisors LLC)
  • Phil Matheson, Irvine, Calif. (NFP Securities, Inc.)
  • Kyle Matkaitis, Highland, Ind. (Fidelity Brokerage Services LLC)
  • Herbert Moody Jr., Charlotte, N.C. (Capital Guardian LLC)
  • Mark Morgan, Lebanon, Ohio (Money Concepts Capital Corp)
  • Anthony O’Connor and Leo O’Connor, Binghamton, N.Y. (Lincoln Investment Planning LLC)
  • James Petitpren, Chicago (BMO Harris Financial Advisors, Inc.)

$50M-$99M

  • Naser Alzer, Cedar Park, Texas (Capital One Securities, Inc.)
  • Joshua Anglin and Thomas Compernolle, Independence, Ohio (Ameriprise Financial Services, Inc.)
  • Brent Barth and William Morrison, Williamsburg, Va. (Voya Financial Advisors, Inc.)
  • Amal Benbrahim, Whitestone, N.Y. (Wells Fargo Advisors LLC)
  • Bradley Bowman, Sugar Land, Texas (Cetera Advisors LLC)
  • Matthew Bryant and Thomas Bryant, Modesto, Calif. (Wells Fargo Advisors LLC)
  • Scott Burns, Monroe, Mich. (Fifth Third Securities, Inc.)
  • Michael Conaty, Knoxville, Tenn. (FTB Advisors, Inc.)
  • Bruce Cote, Pine Plans, N.Y. (M&T Securities, Inc.)
  • Samantha Minh Dinh, Alameda, Calif. (Edward Jones)
  • Terrance Donoghue, Wilmington, N.C. (INVEST Financial Corporation)
  • Robert Eddins, Knoxville, Tenn. (FTB Advisors, Inc.)
  • Jomar Fernandez, Edison, N.J. (PNC Investments)
  • Joseph Franklin and Sean Franklin, Purchase, N.Y. (NYLIFE Securities LLC)
  • Jennifer Go, Temecula, Calif. (Edward Jones)
  • Jason Gonter and Michelle Nocito, Gibbsboro, N.J. (Ameriprise Financial Services, Inc.)
  • Quincy Goundeau, The Woodlands, Texas (J.P. Morgan Securities LLC)
  • David Graham and Sibyl Samuel, Greenwood Village, Colo. (Key Investment Services LLC)
  • Karl Graham, Houston (J.P. Morgan Securities LLC)
  • Wayne Greenough, Charlotte, N.C. (MetLife Securities, Inc.)
  • Bruce Hesse, Flemington, N.J. (1st Global Capital Corp.)
  • Ryan Higgins, San Ramon, Calif. (Edward Jones)
  • Brian Hoffman, Bedminster, N.J. (PNC Investments)
  • Kyle Johnston, Seattle (Northwestern Mutual Investment Services LLC)
  • James Jones and Steven Smetana, Akron, Ohio (Ameriprise Financial Services, Inc.)
  • David La Rue, Paso Robles, Calif. (Edward Jones)
  • Steven Landwersiek, Stuart, Fla. (Ameriprise Financial Services, Inc.)
  • Jeffrey Lavezzi and Matthew Wahlman, Tukwila, Wash. (Robert W. Baird & Co., Inc.)
  • Michael Lenahan, Monroe, N.C. (SunTrust Investment Services, Inc.)
  • Robert Lenertz, The Woodlands, Texas (J.P. Morgan Securities LLC)
  • Stephen Levin and Marco Lopez, Dallas (Berthel, Fisher & Company Financial Services, Inc.)
  • Garth Lurvey, Longwood, Fla. (SunTrust Investment Services, Inc.)
  • Thomas McHugh Jr., King of Prussia, Pa. (Logan Capital Management, Inc.)
  • Taysha Patterson, Fisherville, Va. (Edward Jones)
  • Jonathan Peyton, Ashburn, Va. (USAA Financial Advisors, Inc.)
  • Victor Raigoza, Albuquerque, N.M. (Edward Jones)
  • Carla Reilly, Orland Park, Ill. (U.S. Bancorp Investments, Inc.)
  • Jeffrey Robin, Baton Rouge, La. (J.P. Morgan Securities LLC)
  • Frederick Shows, Greenville, S.C. (Waddell & Reed, Inc.)
  • Jason Singleton, Elkin, N.C. (Wells Fargo Advisors LLC)
  • Todd Smiler, Boca Raton, Fla. (Wells Fargo Advisors LLC)
  • Scott Sprague, Los Angeles (Cetera Advisor Networks LLC)
  • Lane Steel, Rexburg, Idaho (Wells Fargo Advisors LLC)
  • Scottie Traylor, Monroe, La. (Raymond James Financial Services, Inc.)
  • Mario Vasquez, Mission Viejo, Calif. (J.P. Morgan Securities LLC)
  • Gary Warner, Fresno, Calif. (Capital Financial Services, Inc.)

$30M-$49M

  • Joseph Abbruzzi, Mount Laurel, N.J. (RBC Capital Markets LLC)
  • Ryan Alderfer, Bellevue, Wash. (Key Investment Services LLC)
  • Jonathan Barkley, Galena, Ill. (Ameriprise Financial Services, Inc.)
  • Richard Berlinski, Iron Mountain, Mich. (SII Investments, Inc.)
  • Drew Boyer and William Greear, Westerville, Ohio (Fortune Financial Services, Inc.)
  • Casey Brighton, Greenville, N.C. (Edward Jones)
  • William Evans, West Columbia, S.C. (Morgan Stanley)
  • Nathan Fichter, Omaha, Neb. (Questar Capital Corporation)
  • Kevin Foreman, San Antonio (Thrivent Investment Management, Inc.)
  • Sean Fowler, Grayslake, Ill. (Fifth Third Securities, Inc.)
  • Rodney Gholson, Vienna, Ill. (J.W. Cole Financial, Inc.)
  • David Gordon, Philadelphia (Ameriprise Financial Services, Inc.)
  • Richard Gray, Dacula, Ga. (SunTrust Investment Services, Inc.)
  • Jon Grubbs, Wexford, Pa. (MetLife Securities, Inc.)
  • Craig Grover, Bangor, Maine (Mid-Atlantic Securities, Inc.)
  • Bryce Holley, Tooele, Utah (Key Investment Services LLC)
  • David Horn, Green Bay, Wis. (Wells Fargo Advisors LLC)
  • Asha Jain, Scottsdale, Ariz. (Wells Fargo Advisors LLC)
  • Steven Jones, Morehead City, N.C. (Wells Fargo Advisors LLC)
  • Gavriel Kandkhorov, Brooklyn, N.Y. (Wells Fargo Advisors LLC)
  • Beverly Ketel, Manchester, N.H. (Citizens Investment Services)
  • Jerome Lafer, Dallas (BBVA Compass Investment Solutions, Inc.)
  • Cali Lehman, Hutchinson, Kan. (CUSO Financial Services, L.P.)
  • Maurice Lounds, Schererville, Ind. (J.P. Morgan Securities LLC)
  • Rita Mazurkewycz, Clarksdale, Mo. (UMB Financial Services, Inc.)
  • Bryan Mccall, Port Jefferson, N.Y. (Next Financial Group, Inc.)
  • Michael Oberheim, Byron, Ill. (BMO Harris Financial Advisors, Inc.)
  • Michael Pfeuffer, Wexford, Pa. (MetLife Securities, Inc.)
  • Daniel Reitz, Allentown, Pa. (Beirne Wealth Consulting LLC)
  • Will Rivere, Houma, La. (Securities America, Inc.)
  • Danica Royster and Kenneth Royster, Norfolk, Va. (MetLife Securities, Inc.)
  • Thomas Sakadales, New Port Richey, Fla. (Edward Jones)
  • Arnold Schmale, Okawville, Ill. (J.W. Cole Financial, Inc.)
  • Jeffrey St. John, Northbrook, Ill. (Ameriprise Financial Services, Inc.)
  • Jeffrey Stone Jr., Greenville, S.C. (Wells Fargo Advisors LLC)
  • Bryan Thomas, Mentor, Ohio (The Huntington Investment Company)
  • Anh Tran, Orange, Calif. (First Allied Securities, Inc.)
  • Trung Vu, Bethesda, Md. (Ameriprise Financial Services, Inc.)
  • Ron Willoughby Jr., Scottsdale, Ariz. (Morgan Stanley)

“The fourth quarter of 2016 was a very successful quarter for recruiting at LPL and helped secure 2016 as LPL’s best recruiting year in the history of the firm,” Bill Morrissey, LPL managing director and divisional vice president, Business Development. “In 2016, there were a number of macro conditions impacting the marketplace, including increased regulatory complexity, advisor and firm consolidation, the election and uncertainty around the Department of Labor fiduciary rule. In an industry where inertia is sometimes the biggest obstacle, we were able to capitalize on these macro trends.  We enjoyed strong business results with these disruptions in the marketplace and resulting flight to quality. Advisors today are looking for a long-term partner, one with the ability to adapt to change in the marketplace. We continue to recruit advisors at scale across all four major channels with in the independent sector being the most active source of advisors for us in 2016.

“Our 2016 results provide strong momentum going into the new year. LPL will continue to invest in technology, people and infrastructure to provide advisors with the tools and resources they need to serve their clients and enhance their experience with LPL.”

*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 March 1, 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 March 1, 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 $517 billion in advisory and brokerage assets as of January 31, 2017. 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 1996-2016). 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 financial institutions, enabling them to help their clients turn life's aspirations into financial realities. Advisors associated with LPL also serviced an estimated 46,000 retirement plans with an estimated $127 billion in retirement plan assets, as of December 31, 2016. LPL also supports approximately 4,000 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have more than 3,200 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