CHARLOTTE, N.C., Dec. 05, 2022 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that the team at Financial House has joined LPL Financial’s broker-dealer, RIA and custodial platforms. They reported having served approximately $650 million in advisory, brokerage and retirement plan assets*, and join LPL from Lincoln Financial.
Operating from a lovingly restored early 1900s home in historic Centreville, Del., Financial House was established more than 30 years ago and is now in its second generation of owners. The team is led by partner financial advisors Joseph Biloon, CFP®, Robert Griesemer CLU, ChFC and Emily Woodson, CFP®. They are joined by fellow advisors Joseph Blair, CFP®, Leo Strine and Gary Ulrich, Jr. CFP®, along with several planning associates and office support team members.
With advanced credentials and broad skillsets, the Financial House team offers comprehensive wealth management services for individuals, families and successful professionals who are serious about working toward their financial goals. They make a point to communicate complex financial planning strategies in an easy and understandable way. “Our team is always available and ready to help, making our clients feel like family and our office feel like home,” Biloon said, noting each advisor brings unique strengths to help create practical solutions for clients across generations.
As the practice evolves, the team recognized the benefits of partnering with a leading, independent wealth management firm. After an extensive due diligence process, they chose LPL.
“Financial House was founded primarily as an insurance and planning firm, but that’s changed over the years. We now offer more comprehensive, complex investment strategies and planning, so working with an insurance-based partner no longer suited our business model,” Griesemer said. “We looked at different opportunities and spoke with friends and colleagues in the industry to get their perspective. At the end of the day, we recognized LPL would provide us with more independence and flexibility to grow our practice as we see fit.”
Woodson added, “We’re also excited about the ease of doing business at LPL. Everything from the client’s perspective will be streamlined and they will have one system to log into to see all of their account information. We also appreciate the efficiencies for our office staff.”
Additionally, the team said moving to LPL will open up more opportunities to recruit new advisors and also grow the practice inorganically, with access to a larger pool of retiring advisors looking to sell part or all of their business. “We’re expecting big growth for Financial House and future is LPL,” Biloon said. “LPL brings more resources to the table for ultimate succession planning, recruiting and transition assistance.”
Scott Posner, LPL Executive Vice President, Business Development, added, “It is a pleasure to welcome the highly experienced Financial House team to the LPL community. It is evident that the care, guidance and support they offer each client helps set them apart. We are honored they partnered with LPL to help evolve their business and prepare for future growth. We are committed to providing advisors with an award-winning*** wealth management platform, innovative digital capabilities and robust business solutions designed to help advisors build their perfect practice, add value for clients and win their market. We look forward to a long-lasting and productive relationship with Financial House.”
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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 more than 21,000 financial advisors, including advisors at approximately 1,100 institution-based investment programs and at approximately 500 registered investment advisor ("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 1996-2022); among third-party providers of brokerage services to banks and credit unions, No. 1 in AUM Growth from Financial Institutions; No. 1 in Market Share of AUM from Financial Institutions; No. 1 in Market Share of Revenue from Financial Institutions; No. 1 on Financial Institution Market Share; No. 1 on Share of Advisors. (2021-2022 Kehrer Bielan Research & Consulting Annual TPM Report). Fortune 500 as of June 2021.
*** Money Management Institute/Barron’s 2022 Industry Award winner, Wealth Management Platform of the Year. The award honors wealth management firms whose investment advisory platform exemplifies innovation in delivering better outcomes for investors and financial advisor.
LPL and its affiliated companies provide financial services only from the United States.
Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC. Financial House and LPL Financial are separate entities.
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.
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