CHARLOTTE, N.C., May 04, 2023 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Thomas Reynolds, CFP® and Kathleen Gfrorer, CFP® of Landmark Capital, Inc. have joined LPL Financial’s broker-dealer, RIA and custodial platforms. They reported having served approximately $400 million in advisory, brokerage and retirement plan assets*, and join LPL from Securities America, now part of the Advisor Group network of broker-dealers. The team will shut down its own RIA to join LPL’s corporate RIA to manage compliance, improve operations and provide an enhanced client experience.
Reynolds and Gfrorer have worked together for more than 30 years at the Oak Brook, Ill.-based firm, where they take a team approach to helping their clients work toward their long-term financial goals. As a full-service wealth management firm that caters to many high-net-worth clients, the Landmark team also includes support members Steven Mallo and Lauren Friscia.
“We understand that it can be a daunting task for individuals to plan their financial futures, whether the concern is paying too much in taxes or not having enough money to last throughout retirement. That’s where we step in. Our team has extensive training and experience to help break down complex matters, provide sound information and create personalized, long-term strategies,” Gfrorer said. “Tom and I complement each other well and bring different strengths to the team so that we can cover more ground to help clients make sound financial decisions and feel better about their future.”
Opting to join a National RIA to streamline operations
With the move to LPL, the team closed its RIA to join LPL’s RIA in an effort to scale back the workload, streamline operations and spend more time with the clients. The move was also part of the advisors’ business continuity plan to ensure clients will be taken care of well into the future.
“By joining LPL’s RIA, we’ll have enhanced back office support so we can alleviate ourselves of some of those responsibilities and concentrate more on helping our clients,” Gforer said. “We also plan to grow our team by bringing on additional advisors to help with our succession planning. LPL’s vast network of advisors should open up many doors for someone we can pull into our group to make sure clients will be well-taken care of for generations to come. We’re confident LPL is going to be able to take us into the future.”
Scott Posner, LPL Executive Vice President, Business Development, added, “We welcome Tom and Kathy to the LPL community and are honored to support them in the evolution of their practice. We committed to serving our advisors across a range of capabilities and resources, which includes helping offload the burden of managing compliance that many RIAs are experiencing, ultimately enabling advisors to spend more time with their clients. We look forward to delivering personalized services and innovative resources to Landmark Capital for years to come.”
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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 21,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 500 registered investment advisor ("RIA") firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to personalized 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.
*Value approximated based on asset and holding details provided to LPL from year-end 2022.
LPL Financial and its affiliated companies provide financial services only from the United States.
Securities and advisory services offered through LPL Financial LLC, an SEC-registered broker-dealer and investment advisor. Member FINRA/SIPC. Landmark Capital and LPL Financial are separate entities.
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.
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