CHARLOTTE, N.C., Aug. 29, 2022 (GLOBE NEWSWIRE) — LPL Financial LLC announced today that a team of five financial advisors from Genesis Financial Partners joined LPL Financial’s registered investment advisor (RIA) and custodial platforms and aligned with JFC Advisor Network, an LPL affiliated firm. The team reported having served approximately $150 million in advisory, brokerage and retirement plan assets,* and joins from Cambridge Associates.
“We are a high touch firm that lives the LPL mission of helping advisors so they can best serve their clients,” said JFC Advisor Network’s head of Business Development and Recruiting, Tom Cook, CFS®, CFP®. “We walked hand-in-hand with the Genesis Financial Partners team throughout the transition, and continue to offer ongoing operational support and transparent economics.”
JFC Advisor Network President, Jack Connealy, CFP®, ChFC®, CLU® founded the firm 30 years ago in Lincoln, Nebraska and joined LPL in 2020. Since then, the firm has grown exponentially, adding several administrative and support staff to better serve its growing client base.
“We welcome the team from Genesis Financial Partners and look forward to extending the financial strength and stability of LPL to them and their clients,” said Connealy. “Backed by LPL’s powerful platforms, we strive to operate in a personalized way that is very responsive to advisors, offering a simple model that works extraordinarily well: combining strong economics and strong support.”
About the Genesis Financial Team
The team has been providing wealth management services for nearly 22 years, basing their philosophy on one of collaboration and personalization. Taking this type of approach allows them to understand all of their clients’ situations and what really matters to them. They then build and customize a holistic financial plan that addresses each client’s key needs in the areas of retirement planning, financial planning and estate planning.
Before making their move, the team at Genesis Financial Partners performed extensive due diligence, actively researching firms before selecting LPL Financial. “When we saw what was out there, we decided that moving to LPL was a win/win as we were able to streamline processes in a way that makes it really easy to do business,” said Rick Mass, a partner at Genesis Financial Partners. “Plus we were also able to pass on those savings directly to our clients.”
“One of our goals is to expand with our LPL affiliation and maximize the economic benefits that are available through that relationship,” added Cook. “A big influence for the move was the technology offered at LPL, which makes it so much easier to conduct business. LPL gives us back our time—the most valuable asset we have, and that really resonates with advisors.”
“I’m thrilled to hear that our core mission of providing exceptional experiences and capabilities so advisors can build their perfect practice is resonating with advisors,” said Scott Posner, LPL Financial’s executive vice president, Business Development. “JFC Advisor Network serves a diverse client base of financial institutions and independent advisors—an area in which LPL’s dynamic and scalable business models really excel. We welcome the Genesis Financial team and congratulate JFC Advisor Network on their continued expansion.”
Read about other firms that recently joined LPL in the LPL Financial News and Media section of LPL.com.
Advisors, find an LPL business development representative near you.
About LPL Financial
LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader in the markets we serve,** supporting nearly 21,000 financial advisors, and approximately 1,100 institution-based investment programs and 500 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.
*Value approximated based on asset and holding details provided to LPL from year-end 2021.
**Top RIA custodian (Cerulli Associates, 2020 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S. (Based on total revenues, Financial Planning magazine 1996-2021); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 Company as of June 2021. LPL and its affiliated companies provide financial services only from the United States.
Securities and advisory services offered through LPL Financial LLC, a registered investment advisor.
Member FINRA/ SIPC.
Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial LLC. We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.
JFC Advisor Network, Genesis Financial Partners and LPL Financial are separate entities.
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