San Diego, CA (PRWEB) December 17, 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 two veteran advisors, Kelley F. Snook, Jr., and Paul Housey, have joined the LPL Financial broker-dealer and RIA custodial platforms. Individually, Mr. Snook and Mr. Housey each have over 20 years of financial services industry experience.
Both based in Troy, MI, Mr. Snook’s retirement plan consultancy, under the RIA Straightline Consulting Group, focuses nationally on corporate sponsored 401(k) plans, as well as non-profit 403(b) plans primarily for colleges and universities. Mr. Snook’s practice supported approximately $4.3 billion of assets as of August 31, 2013. Mr. Housey’s private client advisory practice, through the investment advisory firm Flipside Consulting, LLC, provides financial planning for the mass affluent, targeting clients with $1 million and above in investable assets, and high-net-worth clients. Mr. Housey’s private client practice had approximately $78 million of assets under management as of November 30, 2013.
“We are very pleased to join LPL Financial,” commented Mr. Snook. “With regulatory changes in recent years affecting 401(k) and 403(b) plans, our extensive work and familiarity with this area has given a boost to our retirement plan advisory business, and LPL Financial is a natural fit for supporting our growth in this arena. As we looked toward the future, it was clear to us we needed to partner with a leading independent broker-dealer and custodian, endowed with a robust back-office and organizational support structure, which had the flexibility to accommodate the highly customized solutions we deliver to our clients.”
Mr. Housey said, “As our private client advisory practice increasingly serves a high-net-worth clientele, we found that partnering with LPL Financial, with its substantial services and expertise dedicated specifically to this sector, would allow an independent firm like ours to fully compete and win against larger institutions. After carefully examining our options, we determined that LPL Financial had both the flexibility we needed and the capabilities to support the growth we envision.”
Bill Morrissey, Executive Vice President of Business Development at LPL Financial, said, “We are delighted to welcome Kelley Snook and Paul Housey to LPL Financial. We are pleased to be able to provide the full extent of support services, technology and practice management resources that will help facilitate their growth and enable them to continue to provide high quality, customized financial advice to their private and institutional clients alike.”
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 over 13,500 financial advisors and approximately 700 financial institutions. In addition, LPL Financial supports over 4,500 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
Other advisory services offered through Straightline Consulting Group and Flipside Consulting, LLC, registered investment advisors and separate entities from LPL Financial.
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