San Diego, CA (PRWEB) October 03, 2013
LPL Financial LLC, 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 financial advisors of VisionPoint Advisory Group, LLC (“VisionPoint” or “the firm”), an independent investment advisor firm, have transitioned to LPL Financial. As of August 31, 2013, VisionPoint and its twelve financial advisors supported approximately $1 billion of corporate retirement plan and private client investment assets.
VisionPoint is headquartered in West Des Moines, IA, with additional offices in Sioux Falls, SD and Dallas, TX. VisionPoint financial advisors provide a full spectrum of financial and advisory services to enable corporate retirement plans, individuals and families to define and progress toward their own visions for the future. The firm will utilize LPL Financial’s broker-dealer and hybrid RIA platforms to support its commission and private client fee-based business. Additionally, VisionPoint will use resources and expertise of Retirement Partners, the retirement plan-focused division of LPL Financial.
VisionPoint offers financial advisors a highly flexible array of association options to help them build the business that is best suited for their own needs and those of their clients. These association options include an “Independent Advisor” model, in which advisors manage their own operations and marketing with compliance and supervisory support; an “Interdependent” model that allows advisors to maintain their independence while leveraging VisionPoint and LPL Financial’s scale, operational infrastructure, technology offerings and marketing capabilities; and a “Firm” model under which advisors become VisionPoint full time employees, with opportunities to participate as equity partners of the firm in the future.
These flexible operating structures enable VisionPoint’s advisors to optimize their own businesses and client offerings while emphasizing the firm’s core values of entrepreneurialism, diversity and collaboration.
Bill Morrissey, Executive Vice President of Business Development at LPL Financial, said, “We are excited to welcome VisionPoint to LPL Financial. Over the years, the firm has built an exceptional team of experienced professionals that are keenly focused on growing their business over the long term by providing comprehensive resources to their advisors and superior service to their retail and corporate clients. In particular, we are delighted to be able to empower VisionPoint financial advisors to support their multi-faceted client base through access to four platforms: Our broker-dealer, advisory, Retirement Partners and RIA Custodial platforms. VisionPoint’s selection of LPL Financial as its strategic partner is a reflection of the maximum choice, flexibility and resources that we provide to the most successful and sophisticated advisor groups in the industry today. We look forward to supporting VisionPoint financial advisors across the full spectrum of commission-based, advisory and corporate retirement plan business that they serve.”
James Mars, ChFC, CFPTM, Managing Partner of VisionPoint, said, “After a thorough review of potential broker-dealer partners to help us execute on our long-term growth strategy, we are thrilled to be joining the LPL Financial platform. LPL Financial’s cutting-edge technology, operational support, and recruiting infrastructure – among other offerings – will enable us to grow our wealth management operations significantly in the years ahead. At the same time, we believe that LPL Financial’s offerings in the corporate retirement plan marketplace put them years ahead of their competitors, and we are very excited to introduce their innovative solutions to our existing and prospective clients on the retirement plan side of our business.”
Mr. Mars continued, “At the end of the day, our core vision is to enable our clients, our partners and our employees to continue to grow personally, professionally and financially. Our partnership with LPL Financial gives us the scale, tools and capabilities we need in order to pursue these goals and continue to meet our clients’ and advisors’ needs in the years ahead.”
About VisionPoint Advisory Group
VisionPoint Advisory Group, LLC (VPAG) is a registered Investment Advisor (RIA) that provides a comprehensive suite of corporate retirement plan consulting, wealth planning and investment management services to advisors who assist affluent families, businesses and executives in pursuing their financial goals. VisionPoint was founded in 1981 in West Des Moines, Iowa. Today, VisionPoint has offices in Dallas, Texas and Sioux Falls, South Dakota as well as our home office in West Des Moines. For more information, please visit vpadvisor.com.
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine, June 1996-2013), an RIA custodian,* and an independent consultant to retirement plans. LPL Financial offers proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 13,400 financial advisors and approximately 700 financial institutions. In addition, LPL Financial supports more than 4,600 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have approximately 3,000 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit http://www.lpl.com.
Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC
VisionPoint Advisory Group, LLC is a separate entity from LPL Financial
*Cerulli Associates: RIA Service Agent Survey Q1 2013
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