CHARLOTTE, N.C., Sept. 29, 2021 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq: LPLA) announced today that the team at First Legacy Wealth Management has joined LPL Financial’s broker-dealer, corporate registered investment advisor (RIA) and custodial platforms, aligned with large enterprise JFC Advisor Network. The team reported serving over $400 million in advisory, brokerage and retirement assets*. They join LPL from Avantax Investment Services, part of Blucora.
With offices in San Angelo and Big Spring, Texas, First Legacy Wealth Management, with over 75 years of combined experience, is a tax-based practice that strives to provide clients with individually tailored financial advice focused on tax implications and long-term goals. Positioning themselves with CPAs, the team specializes in retirement assets, wealth growth and legacy planning. “Our priority is providing a personalized experience for our clients and being a team they can always call on,” said financial advisor Dennis Reed, CPA. “We enjoy helping our clients incorporate charitable giving in their financial plans, and we also work with public charities to help them continue to serve our community.”
Reed is joined at First Legacy by fellow advisors Lance Modawell, AAMS and Steve Stone, CPA, CFP®. They are supported by three full-time assistants, including Reed’s son, Walter Reed, who is working toward an advisor role with plans to eventually expand the practice to Houston. Together, they are a close-knit team with vast industry experience.
Why LPL is their chosen home
As the practice continues to grow, the First Legacy team determined to find a new wealth management partner to provide them with differentiated client experiences and more flexibility in how they operate their business. “When we realized LPL’s client-oriented business model aligned with ours, the choice to move was an easy one,” Reed said. “We will be backed by the firm’s dependable and unwavering support that emboldens us to dictate our business model, further develop our practice and strengthen our client relationships. We are excited about the variety of options and the user-friendly interface that LPL’s platforms have to offer. Our clients can expect a more personalized and seamless online experience, combined with our diligent support services.”
Jack Connealy, founder of JFC Advisor Network, stated, “JFC Advisor Network is thrilled to welcome First Legacy to our growing network of financial professionals. At JFC, we are dedicated to furthering the success of our advisors and elevating their practices, and we are honored to be entrusted with this mission by First Legacy. We look forward to supporting Dennis, Lance, Steve and the entire First Legacy team.”
Scott Posner, LPL executive vice president, Business Development, stated, “We welcome to Dennis, Steve and Lance to the LPL community and congratulate JFC for growing its network of quality advisors. At LPL, we aim to redefine independence in our industry and focus on one central purpose to serve our advisors. Our capabilities and resources are thoughtfully designed to let advisors operate their practice efficiently while spending more time with their clients. We are constantly innovating our technology and affiliation models, so our advisors can create their perfect practice and rise above the competition. We look forward to supporting First Legacy Wealth Management in a long-lasting partnership and helping their business thrive.”
Read about other firms that recently joined LPL in the LPL Financial News and Media section of LPL.com.
Advisors, find an LPL business development representative near you.
About LPL Financial
LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader** in the markets we serve, supporting more than 19,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to objective guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.
** Top RIA custodian (Cerulli Associates, 2019 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S. (Based on total revenues, Financial Planning magazine June 1996-2020); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 as of June 2021
*Based on prior business and represents assets that would have been custodied at LPL Financial, rather than third-party custodians. Reported assets and client numbers have not been independently and fully verified by LPL Financial.
Securities and advisory services offered through LPL Financial LLC, an SEC-registered broker-dealer and investment advisor. Member FINRA/ SIPC
Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial LLC. We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.
First Legacy Wealth Management LLC, JFC Advisor Network and LPL Financial are separate entities.
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