LPL Financial Welcomes Delaware Valley Financial Group To Its Broker-Dealer And Corporate RIA Platform
Leading Independent Producer Group Supports Nearly $500 Million in Total Client Assets
Transition to LPL Financial Encompasses 24 Licensed Financial Advisors
New Affiliation Presents Multiple Opportunities For Enhanced Support of Delaware Valley Financial Group's Wide Range of Businesses
SAN DIEGO, Sept. 19, 2012 /PRNewswire/ -- LPL Financial LLC, the nation's largest independent broker-dealer* and a wholly-owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today announced that Delaware Valley Financial Group (DVFG), a leading independent producer group, has affiliated with LPL Financial. As part of this process, 24 DVFG-affiliated licensed advisors are transitioning their securities registrations to LPL Financial. DVFG currently supports nearly $500 million in total client assets.
Based in King of Prussia, Pennsylvania, DVFG supports its independent advisors in providing their individual and business clients with a broad range of financial services, including financial planning and wealth management, business solutions, retirement strategies and comprehensive personal and property & casualty insurance solutions.
Bill Morrissey, Executive Vice President of Business Development at LPL Financial, said, "We are happy to welcome Delaware Valley Financial Group and its independent advisors to the LPL Financial broker-dealer and corporate RIA platform. DVFG is a distinguished, sophisticated organization with a robust set of businesses. We look forward to providing them with extensive operational support, not only through our broker-dealer relationship but through a multi-faceted partnership that can assist them in all aspects of practice management support and counsel."
Thomas A. Schirmer, Chairman of DVFG, said, "We are thrilled to be joining forces with LPL Financial. This new partnership provides DVFG Advisors with an unprecedented assortment of practice management and development tools, designed and supported by one of the industry's finest broker-dealer. We believe our association with LPL Financial marks the next step in DVFG's evolution as a leading financial services company and we look forward to a long and mutually successful affiliation with LPL Financial."
About Delaware Valley Financial Group
DVFG Companies Inc., headquartered in King of Prussia, PA and with offices in New Jersey, operates a vertically integrated multi-line financial services firm that specializes in Financial Advisory, Life Insurance, Annuities, Group Benefits, Qualified Plans, Property and Casualty Insurance, and access to Residential/Commercial Lending. DVFG's mission is to leverage its people, its product access, its resources and its fortitude to design, produce and distribute a unique assortment of financial services through the most strategically sound means of execution. This provides a high level of value, consistency and impact for each of its producers and their clients. Its commitment reflects its heritage—a constant pursuit of world-class customer service, an organizational focus on innovation and the unique design sensibility as embodied in its suite of evolving financial strategies. For more information, please visit http://www.dvfgadvisors.com
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 1996-2012), a top RIA custodian, and a leading independent consultant to retirement plans. LPL Financial offers integrated technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to over 13,100 financial advisors and approximately 685 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 2,900 employees with headquarters in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.
Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC
*Based on total revenues, Financial Planning magazine, June 1996-2012
This press release may contain forward-looking statements (regarding management expectations, strategic objectives, business prospects, financial results, and other similar matters) that involve risks and uncertainties. Forward-looking statements can be identified by words such as "will," "expects," "believes," and similar terms. Forward-looking statements are not guarantees of future performance and our actual results may differ significantly from the results discussed in the forward-looking statements. Important factors that may cause such differences include, but are not limited to, LPL Financial LLC's ability to successfully transition the DVFG-affiliated advisors to its platform, changes in general economic and financial market conditions, fluctuations in the value of assets under management or administration, effects of competition in the financial services industry, changes in the number of our financial advisors and institutions and their ability to effectively market financial products and services, the effect of current, pending and future legislation, regulation and regulatory actions, and the other factors set forth in Part I, "Item 1A. Risk Factors" in LPL Financial Holdings Inc.'s 2011 Annual Report on Form 10-K, which is available on www.lpl.com and www.sec.gov.
SOURCE LPL Financial LLC