LPL Financial Welcomes Riolo Financial Group
CHARLOTTE, N.C., Oct. twenty, 2021 (Globe NEWSWIRE) — LPL Economic LLC (Nasdaq:LPLA} announced now that Riolo Economic Group has joined LPL Financial’s broker-dealer, company registered expenditure advisor (RIA) and custodial platforms. The team noted acquiring served approximately $250 million in advisory and brokerage property*. They be a part of LPL from Ameriprise Economic.
Based mostly in New Metropolis, N.Y., the arranging-dependent practice was started in 2014 when marketplace veteran Dominick Riolo CFP®, teamed up with his son, Frank Riolo CFP®. With the shift to LPL, their longtime colleague Lisa Sherman CFP®, officially joins the team. The 3 monetary advisors are assisted by two workplace guidance personnel users. “We get the job done to make sure each shopper has a roadmap that will take their entire monetary photograph into account and adapts to their transforming wants,” Dominick Riolo explained.
Following in depth because of diligence, which bundled interviewing six corporations and speaking with their respective advisors, the team chose to lover with LPL for the upcoming chapter of their business. “With so a lot consolidation in the monetary advice marketplace, it was crucial for us to affiliate with a foremost wealth management organization. As a publicly traded organization, we believe that LPL can supply our business and consumers with lengthy-term stability in this at any time-transforming world,” Riolo explained. “Additionally, the shift to LPL permits us to have far more freedom in how we function. LPL entirely supports its advisors as unbiased business owners we aren’t calculated towards other advisors, and LPL does not generate conflict by featuring proprietary monetary products.”
Scott Posner, LPL government vice president, Small business Advancement, stated, “On behalf of the entire LPL group, we lengthen a warm welcome to Dom, Frank and Lisa. We are proud they regarded our stability as a advantage to their practice and consumers. We are dedicated to our advisors’ good results and will go on to invest in modern capabilities and robust business methods designed to assist them prosper. We look ahead to a lengthy-lasting connection with the entire team at Riolo Economic Group.”
Read through about other corporations that just lately joined LPL in the LPL Economic Information and Media section of LPL.com.
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About LPL Economic
LPL Economic (Nasdaq: LPLA) was started on the principle that the organization must get the job done for the advisor, and not the other way around. Nowadays, LPL is a chief** in the markets we provide, supporting far more than 19,000 monetary advisors, 800 establishment-dependent expenditure programs and 450 unbiased RIA corporations nationwide. We are steadfast in our dedication to the advisor-centered design and the perception that People deserve entry to goal steerage from a monetary advisor. At LPL, independence suggests that advisors have the freedom they deserve to select the business design, services, and technologies assets that make it possible for them to run their best practice. And they have the freedom to control their shopper relationships, for the reason that they know their consumers very best. Merely place, we take treatment of our advisors, so they can take treatment of their consumers.
** Top rated RIA custodian (Cerulli Associates, 2019 U.S. RIA Market Report) No. one Impartial Broker-Vendor in the U.S (Based mostly on overall revenues, Economic Scheduling journal 1996-2021) No. one company of third-get together brokerage services to banking institutions and credit rating unions (2020-2021 Kehrer Bielan Study & Consulting Annual TPM Report) Fortune five hundred as of June 2021
*Based mostly on prior business and signifies property that would have been custodied at LPL Economic, instead than third-get together custodians. Noted property and shopper numbers have not been independently and entirely verified by LPL Economic.
Securities and advisory services presented by means of LPL Economic LLC, an SEC- registered broker-dealer and expenditure advisor. Member FINRA/ SIPC
During this conversation, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or expenditure advisor representatives affiliated with LPL Economic LLC. We routinely disclose information and facts that may possibly be crucial to shareholders in the “Investor Relations” or “Press Releases” section of our site.
Riolo Economic Group and LPL Economic are different entities.
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