Mike and I have known each other for 40 years and we share a passion for client service with the belief that we have an obligation to serve our clients’ best interests at all times.
SAN JOSE, Calif. (PRWEB) November 28, 2017
John L. (Jack) Hillis, founder of Hillis Financial Services, announced that his firm merged with Danville, Calif.-based CalBay Investments, Inc. (“CBI”), effective June 13, 2017. The two firms are affiliated with LPL Financial, a leading retail investment advisory firm and the nation’s largest independent broker/dealer. Combined, the new firm manages $875 million of client brokerage and advisory assets, as of September 15, 2017.
The union of Hillis Financial Services with CalBay Investments, which was founded by Mike Allard, brings together the two top performing LPL advisors in the San Francisco Bay Area. The joining of two complementary firm cultures and practice strengths will enable both to provide additional client benefits and more sophisticated services.
“Mike and I have known each other for 40 years and we share a passion for client service with the belief that we have an obligation to serve our clients’ best interests at all times,” said Hillis. “We also operate similar business models and align on our core investment philosophies. By bringing together the complementary strengths of our two firms, we can increase our scale and depth of expertise to offer more value to our clients today and into the future.”
“Our firm is excited to align with Hillis Financial Services to create a robust practice that can deliver a broad range of services to our clients,” said Allard. “Jack and I both take a financial planning approach to serving our clients to deliver value and help clients work toward better outcomes. Our combined experience, along with the ability to deliver investment solutions that suit each client’s unique financial goals, creates a powerful combination to support our clients.”
Hillis founded his firm, which includes three additional advisors and two office support staff, in 2001. Overall, he has more than 40 years of experience providing financial planning and asset management advice to individuals, corporate executives and business owners. He is a top performing LPL advisor based on total overall production, having been named among the top two percent of LPL advisors nationwide from 2006 to 2016. He will continue to operate from his office in San Jose.
Allard has been a practicing financial planner since 1990 and is an LPL Executive Council member, ranked among the top 10 independent advisors based on gross dealer concession (GDC) totals at LPL in 2016. The firm, which includes seven support staff, has offices in Danville and Santa Clara.
About Hillis Financial Services
Hillis Financial Services is an independent, personal wealth planning firm focused on managing the “irreplaceable assets” of its clients, families and individuals, many of whom are small business owners. The firm uses a conservative approach to its proactive client portfolio management, believing that managing downside risk can be more important in today’s economy than seeking upside growth. As independent representatives of LPL Financial, the financial professionals at Hillis Financial Services primarily provide objective fee-based advice and services including personal financial, retirement, education, tax and estate planning; long-term care, charitable giving as well as risk management. The financial professionals build customized asset allocation portfolios of stocks, bonds and alternative investments for their clients. The team has more than 70 years of collective experience in managing portfolios, and many clients have been with the firm’s advisors for more than 30 years. The firm is based in San Jose, Calif. For more information, visit http://www.hillisfinancial.com.
About CalBay Investments, Inc
CalBay Investments (CBI) is an independent, wealth management firm focused on providing comprehensive strategies to individuals, families and businesses. The team has been serving Northern California, specifically the Bay Area, for more than 25 years. CBI understands that having the ability to provide experienced advice is imperative in helping to ensure the success of clients. Maintaining a commitment to the client, while focusing on continuing to build a lasting partnership, is part of CBI’s core belief. As independent representatives of LPL Financial, the professionals at CalBay offer objective, fee-based advice, quality service and trusted direction. While targeting retirement and income planning, CBI also provides financial planning and tax solutions along with other services. Many clients have been members of the CBI family since its inception; a testament to the firm’s foundation and the standards its team strives to maintain for generations to come. CalBay Investments has offices in Danville and Santa Clara. For more information, visit http://www.calbayinvestments.com.
About LPL Financial
LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), is a leader in the financial advice market and provided service to $551 billion in advisory and brokerage assets as of August 31, 2017. LPL is one of the fastest growing RIA custodians and is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine June 1996-2017). The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 independent financial advisors and over 700 financial institutions, enabling them to help their clients turn life's aspirations into financial realities. Advisors associated with LPL also serviced an estimated 46,000 retirement plans with an estimated $138 billion in retirement plan assets, as of June 30, 2017. LPL also supports approximately 3,700 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,400 employees with primary offices in Boston, Fort Mill, and San Diego. For more information, please visit http://www.lpl.com.
The Financial Consultants of CalBay Investments and Hillis Financial Services are also Registered Representatives with and securities and advisory services are offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.