– Former Bank-Based Private-Client Advisors Transition to the LPL Financial Broker-Dealer Platform and Also Align with the RIA of Level Four® Advisory Services –
– Newly Created New Orleans/Metairie Independent Financial Advisory Firm Plans to Attract Additional Louisiana-Based Advisors Seeking Independence –
SAN DIEGO, May 14, 2015 (GLOBE NEWSWIRE) -- LPL Financial LLC ("LPL Financial"), the nation's largest independent broker-dealer*, an RIA custodian, and a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq:LPLA), today announced that Faubourg Private Wealth Advisors ("Faubourg"), a newly formed, independent financial advisory firm, has joined the LPL Financial broker-dealer platform and will provide fee-based services to clients through Level Four® Wealth Management, an independent advisor group serving more than 120 independent advisors across the United States on LPL's RIA platform. As of Feb. 28, 2015, Faubourg reported that based on prior business, its financial advisors served $175 million of client assets**.
Founded by veteran financial advisors formerly serving bank-based private clients, Faubourg provides independent, comprehensive financial planning and investment services on a customized basis to individuals, families and organizations in Metairie, La., and the surrounding New Orleans area. Faubourg is comprised of six financial professionals, including three licensed advisors. The firm plans to focus on attracting additional advisors from across Louisiana to grow its service-oriented wealth management firm.
Move to Independence
"We are thrilled to work with LPL Financial and Level Four® to bring our clients the many benefits of truly independent financial advice," said P. David Soliman, a founding partner. "We look forward to having access to a broad array of investment products and resources – previously unavailable to us – and to have the freedom to work closely with our clients to provide tailored financial advice and investment strategies."
"We welcome the Faubourg team to the LPL platform and are pleased that they have chosen our firm to support their business in their move to independence," Steve Pirigyi, executive vice president of business development at LPL Financial. "Our industry-leading technology, service and resources will help them to deliver tailored solutions to address their clients meet their financial goals."
Poised for Growth
"As we move forward, we will work to attract additional advisors from across Louisiana –from bank-based programs and well as from regional and national wirehouses – to expand upon our service to clients. We take a holistic approach by working with clients and their other trusted advisors, including accountants, attorneys, bankers and insurance agents, to provide targeted independent wealth management," added Tyson Vanlandingham, a founding partner.
"We believe that advisory firms such as Faubourg exemplify the firm of the future and we are excited to have them in our network," said Jake Tomes, chief executive officer of Level Four®. "Faubourg will serve as an important strategic cornerstone for Level Four® in the New Orleans area. We look forward to helping them grow and attract additional advisors and specialists to their firm as well as to Level Four® Wealth Management."
Faubourg's primarily fee-based services include financial planning and monitoring, investment advisory, trust services, retirement plan consultation and administrative support, individual retirement accounts and estate planning services.
*Based on total revenues, Financial Planning magazine, June 1996-2014
**Asset numbers were reported by Faubourg Private Wealth Advisors based on prior business of its affiliated financial advisors, and have not been independently and fully verified by LPL Financial.
About Faubourg Private Wealth Advisors
Based in Metairie, La., Faubourg Private Wealth provides independent, comprehensive financial planning and investment services individually tailored to its clients' needs. The firm's core values center on individualized client service and operating as investment fiduciaries. Faubourg offers a variety of open-architecture financial products and services from a network of trusted institutions. Backed by top-level resources and state-of-the-art technology, Faubourg takes a collaborative approach to professional planning, and works with attorneys, CPAs, insurance agents, bankers, heirs, and other trusted advisors to develop both short- and long-term strategies to help build and preserve client wealth. For more information, visit www.fpwa.com.
About Level Four® Advisory Services
Based in Plano, Texas, Level Four® Wealth Management is committed to being the firm of the future. Level Four provides extensive business development and operational support to accounting firms and financial professionals seeking to create a holistic financial services offering. Its office of supervisory jurisdiction (OSJ) provides support services to over 120 financial professionals, and its coaching and training services drives its philosophy across its members' practices. Its SEC-registered investment advisor (RIA), Level Four® Advisory Services, LLC, is an independent, full-service investment management firm providing a broad array of financial services, including retirement planning, tax management, estate planning, risk management, education funding, investment management, employee and executive benefits. The financial professionals at Level Four® Advisory Services have partnered with LPL Financial as their broker-dealer in order to maximize the value they can bring to clients, through LPL's extensive range of tools and services. More information is available at www.levelfouradvisors.com.
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq:LPLA), is a leader in the financial advice market and serves $485 billion in retail assets. 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 more than 700 banks and credit unions. LPL Financial is the nation's largest independent broker-dealer since 1996 (based on total revenues, Financial Planning magazine, June 1996-2014), is one of the fastest growing RIA custodians with $105 billion in retail assets served, and acts as an independent consultant to over an estimated 40,000 retirement plans with an estimated $120 billion in retirement plan assets served, as of March 31, 2015. In addition, LPL Financial supports approximately 4,300 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,352 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial. A registered investment advisor, member FINRA/SIPC.
Investment advice also offered through Level Four® Advisory Services LLC., a registered investment advisor. Level Four Advisory Services LLC, Level Four Wealth Management, and Faubourg Private Wealth Advisors are all separate entities from LPL Financial.
LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial.
Connect with Us!
CONTACT: LPL Financial Media Contact Lauren Hoyt-Williams 980-321-1232 Lauren.Hoyt-Williams@lpl.com