SAN DIEGO, June 11, 2015 (GLOBE NEWSWIRE) -- LPL Financial LLC, the nation's largest independent broker-dealer*, a custodian for registered investment advisors (RIAs), and a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq:LPLA), today announced that Advantage Wealth Advisors ("Advantage") has transitioned to LPL's broker-dealer and corporate RIA custodial platforms. Advantage reported that, based on prior business, its advisors had serviced approximately $205 million of client assets**, as of April 30, 2015.
Based in Alamo, Calif., with offices in Newport Beach and Corrales, N.M., Advantage is comprised of five financial advisors – V. John Threlkeld, a Certified Wealth Strategist® (CWS®), John Saylor, CWS®, Charles "Chip" Presti, CWS®, Milton Guzman and Jon Lee, CFA-Level II – and a registered sales assistant. Advantage's team specializes in comprehensive financial planning, high-net-worth strategies, retirement planning, investment management, insurance and fixed income investing. Led by Threlkeld, Advantage serves a mass affluent and high-net-worth clientele throughout California, as well as other areas across the Southwest.
"We are excited about transitioning to LPL Financial," said Threlkeld, the firm's president and founding partner. "Its fully integrated platform provides exactly what we need now as well as the versatility to be able to transition our business model to a hybrid RIA firm structure in the future as we further establish our business."
Since 2003, Advantage has expanded through the successful completion of 11 acquisitions and one carve-out of a book of business. Advantage seeks opportunities to continue to grow through acquisition throughout California as well as in Arizona and other southwestern locations. Threlkeld credits LPL's large advisor base, with more than 700 advisors in California alone, for creating an environment that presents mutual opportunities for Advantage's growth as well as for succession planning for advisors.
"John Threlkeld and the Advantage team appreciated the value LPL can bring to their business, specifically around acquisition support and succession planning," said Steve Pirigyi, executive vice president of business development, LPL Financial. "We are pleased to welcome Advantage and to be able to provide them with the resources they need to pursue their strategy to expand their firm."
*Based on total revenues, Financial Planning magazine, June 1996-2014
**Asset numbers were reported by Advantage based on prior business and have not been independently and fully verified by LPL Financial.
About Advantage Wealth Advisors
Based in Alamo, Calif., Advantage Wealth Advisors serves mass affluent and high-net-worth clients in California and the Southwest with comprehensive holistic financial planning services. As an ensemble practice, its team of LPL financial advisors provides a range of specialties for individuals, retirees and families. The firm also has a branch office in Corrales, N.M., as well as a satellite office in Newport Beach, Calif. For more information: 1-888-234-2771.
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.
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CONTACT: Media Contact: Lauren Hoyt-Williams 980-321-1232 Lauren.Hoyt-Williams@lpl.com