LPL Financial Welcomes Riolo Financial Group
CHARLOTTE, N.C., Oct. twenty, 2021 (World NEWSWIRE) — LPL Economic LLC (Nasdaq:LPLA} announced nowadays that Riolo Economic Group has joined LPL Financial’s broker-vendor, company registered expense advisor (RIA) and custodial platforms. The staff reported obtaining served somewhere around $250 million in advisory and brokerage assets*. They be part of LPL from Ameriprise Economic.
Based mostly in New City, N.Y., the organizing-based mostly follow was started in 2014 when business veteran Dominick Riolo CFP®, teamed up with his son, Frank Riolo CFP®. With the transfer to LPL, their longtime colleague Lisa Sherman CFP®, formally joins the staff. The 3 monetary advisors are assisted by two place of work aid workers members. “We get the job done to make positive each shopper has a roadmap that normally takes their full monetary photograph into account and adapts to their transforming demands,” Dominick Riolo stated.
Soon after substantial thanks diligence, which included interviewing six companies and talking with their respective advisors, the staff selected to companion with LPL for the upcoming chapter of their business enterprise. “With so a lot consolidation in the monetary tips business, it was vital for us to affiliate with a primary wealth management organization. As a publicly traded organization, we imagine LPL can offer our business enterprise and shoppers with very long-expression stability in this at any time-transforming environment,” Riolo stated. “Additionally, the transfer to LPL makes it possible for us to have additional freedom in how we function. LPL completely supports its advisors as unbiased business enterprise owners we are not calculated from other advisors, and LPL does not create conflict by giving proprietary monetary goods.”
Scott Posner, LPL govt vice president, Small business Progress, stated, “On behalf of the full LPL group, we lengthen a warm welcome to Dom, Frank and Lisa. We are happy they recognized our stability as a profit to their follow and shoppers. We are committed to our advisors’ success and will proceed to make investments in ground breaking abilities and sturdy business enterprise remedies intended to help them prosper. We search forward to a very long-long lasting marriage with the full staff at Riolo Economic Group.”
Go through about other companies that just lately joined LPL in the LPL Economic Information and Media portion of LPL.com.
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About LPL Economic
LPL Economic (Nasdaq: LPLA) was started on the theory that the organization should really get the job done for the advisor, and not the other way all-around. Nowadays, LPL is a chief** in the marketplaces we serve, supporting additional than 19,000 monetary advisors, 800 establishment-based mostly expense systems and 450 unbiased RIA companies nationwide. We are steadfast in our determination to the advisor-centered product and the belief that Americans are entitled to accessibility to aim steerage from a monetary advisor. At LPL, independence suggests that advisors have the freedom they are entitled to to opt for the business enterprise product, providers, and technology resources that permit them to run their fantastic follow. And they have the freedom to handle their shopper interactions, mainly because they know their shoppers greatest. Simply place, we choose treatment of our advisors, so they can choose treatment of their shoppers.
** Best RIA custodian (Cerulli Associates, 2019 U.S. RIA Marketplace Report) No. one Impartial Broker-Dealer in the U.S (Based mostly on full revenues, Economic Organizing journal 1996-2021) No. one company of third-get together brokerage providers to banks and credit score unions (2020-2021 Kehrer Bielan Investigate & Consulting Yearly TPM Report) Fortune 500 as of June 2021
*Based mostly on prior business enterprise and signifies assets that would have been custodied at LPL Economic, relatively than third-get together custodians. Noted assets and shopper numbers have not been independently and completely confirmed by LPL Economic.
Securities and advisory providers available through LPL Economic LLC, an SEC- registered broker-vendor and expense advisor. Member FINRA/ SIPC
Throughout this interaction, the phrases “financial advisors” and “advisors” are applied to refer to registered associates and/or expense advisor associates affiliated with LPL Economic LLC. We routinely disclose facts that might be vital to shareholders in the “Investor Relations” or “Press Releases” portion of our web-site.
Riolo Economic Group and LPL Economic are individual entities.
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