LPL Financial Welcomes Riolo Financial Group
CHARLOTTE, N.C., Oct. twenty, 2021 (World NEWSWIRE) — LPL Economic LLC (Nasdaq:LPLA} announced right now that Riolo Economic Group has joined LPL Financial’s broker-vendor, company registered expenditure advisor (RIA) and custodial platforms. The workforce documented having served roughly $250 million in advisory and brokerage assets*. They join LPL from Ameriprise Economic.
Dependent in New City, N.Y., the arranging-based observe was launched in 2014 when marketplace 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 workforce. The a few fiscal advisors are assisted by two business assist team members. “We perform to make positive every shopper has a roadmap that usually takes their complete fiscal photo into account and adapts to their shifting desires,” Dominick Riolo mentioned.
Right after substantial owing diligence, which incorporated interviewing six corporations and speaking with their respective advisors, the workforce selected to lover with LPL for the upcoming chapter of their company. “With so a lot consolidation in the fiscal guidance marketplace, it was important for us to affiliate with a leading prosperity administration business. As a publicly traded business, we imagine LPL can provide our company and shoppers with extended-time period security in this at any time-shifting environment,” Riolo mentioned. “Additionally, the transfer to LPL enables us to have extra independence in how we operate. LPL entirely supports its advisors as unbiased company entrepreneurs we are not calculated against other advisors, and LPL does not develop conflict by offering proprietary fiscal solutions.”
Scott Posner, LPL govt vice president, Business Growth, stated, “On behalf of the complete LPL local community, we extend a heat welcome to Dom, Frank and Lisa. We are happy they acknowledged our security as a reward to their observe and shoppers. We are dedicated to our advisors’ success and will continue to devote in revolutionary abilities and robust company options intended to support them prosper. We seem forward to a extended-long lasting romantic relationship with the complete workforce at Riolo Economic Group.”
Read through about other corporations that not long ago 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 launched on the principle that the business ought to perform for the advisor, and not the other way all over. These days, LPL is a leader** in the marketplaces we provide, supporting extra than 19,000 fiscal advisors, 800 institution-based expenditure applications and 450 unbiased RIA corporations nationwide. We are steadfast in our dedication to the advisor-centered product and the belief that Us residents are entitled to obtain to aim assistance from a fiscal advisor. At LPL, independence indicates that advisors have the independence they are entitled to to opt for the company product, services, and know-how sources that allow them to run their perfect observe. And they have the independence to deal with their shopper associations, mainly because they know their shoppers best. Merely put, we choose treatment of our advisors, so they can choose treatment of their shoppers.
** Prime RIA custodian (Cerulli Associates, 2019 U.S. RIA Marketplace Report) No. 1 Unbiased Broker-Supplier in the U.S (Dependent on whole revenues, Economic Planning journal 1996-2021) No. 1 supplier of third-occasion brokerage services to banking companies and credit rating unions (2020-2021 Kehrer Bielan Exploration & Consulting Yearly TPM Report) Fortune 500 as of June 2021
*Dependent on prior company and represents assets that would have been custodied at LPL Economic, relatively than third-occasion custodians. Described assets and shopper numbers have not been independently and entirely verified by LPL Economic.
Securities and advisory services made available by way of LPL Economic LLC, an SEC- registered broker-vendor and expenditure advisor. Member FINRA/ SIPC
All through this communication, the phrases “financial advisors” and “advisors” are employed to refer to registered representatives and/or expenditure advisor representatives affiliated with LPL Economic LLC. We routinely disclose information and facts that may well be important to shareholders in the “Investor Relations” or “Press Releases” portion of our website.
Riolo Economic Group and LPL Economic are different entities.
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