LPL Financial Welcomes StreamSong Advisors to Broker-Dealer and RIA Custodial Platform
San Diego, CA (PRWEB) September 18, 2014 -- 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 StreamSong Advisors has joined the LPL Financial RIA custodial platform. StreamSong is a newly-formed independent financial advisory firm comprised of four seasoned professionals who have joined the LPL broker-dealer platform and who supported a total of more than $1.2 billion in assets under management as of December 31, 2013.
Based in Grand Rapids, MI, with an additional office in the Detroit metropolitan area, StreamSong’s team of professionals includes two financial advisors, a client portfolio manager, and a specialist in financial, tax, business succession and estate planning, as well as two support personnel. Targeting a clientele with $500,000 in investable assets and above, and traditionally serving a client base that has included several large high-net-worth family accounts, the StreamSong team plans to offer comprehensive advisory strategies for private clients and ultra-high-net-worth households seeking multi-family office support.
Steve Pirigyi, Executive Vice President of Business Development at LPL Financial, said, “We are very pleased to welcome StreamSong Advisors to LPL Financial. The StreamSong professionals have a distinguished track record advising wealthy families and individuals, especially business owners that have engaged in selling their businesses and other clients that have undertaken significant wealth transfers. We are delighted that StreamSong has recognized LPL’s extensive capabilities to support independent financial advisors who serve their targeted clientele and we are glad to assist them in launching their new practice.”
Thomas Braun, founder of StreamSong, said, “We are very excited to join the LPL Financial family. We researched a variety of firms and business models before choosing to become an independent hybrid financial advisory firm and to branch office with LPL. From every perspective, LPL was the clear choice: we were impressed by the quality of its technology, its investment research and the particular high-net-worth capabilities that LPL has developed with its Fortigent division. All together, these offerings provide the potential for a superior client experience.”
Advisors affiliated with StreamSong have provided customized investment strategies individually designed for each client, based upon the client’s needs and objectives. As part of their experience advising high-net-worth private clients, StreamSong’s professionals have backgrounds in business management and mergers and acquisitions, as well as in such areas as taxes and estate planning, which support their ability to service the wealth management needs of business owners and families monetizing large assets. In addition, leaders of the StreamSong firm believes that investors in the $500,000 - $2 million tier represent an underserved market segment, which is why the new practice has targeted it as a main area of focus.
“We also appreciate the invaluable assistance that LPL has provided in helping us set up our practice. The overall transition package – from helping us establish our RIA to providing outstanding branding and marketing support – was more than we could expect from any other partner,” Mr. Braun concluded.
*Based on total revenues, Financial Planning magazine, June 1996-2014
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 $465 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 13,800 independent financial advisors and over 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 $78 billion in retail assets served as of June 2014, and acts as an independent consultant to over 40,000 retirement plans with approximately $110 billion in retirement plan assets served. In addition, LPL Financial supports approximately 4,400 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,374 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.
Additional Advisory services offered through StreamSong Advisors, a registered investment advisor and a separate entitiy from LPL Financial.
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Betsy Weinberger, LPL Financial, http://lplfinancial.lpl.com/, +1 (858) 909-6845, [email protected]
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