LPL Financial Welcomes Legacy Financial Planning to Broker-Dealer Platform and Private Advisor Group Hybrid RIA
-- Team includes Recognized Top Woman Producer Tammy Mogilski and Award-Winner Brian Bedford, Bringing over $150 Million of Client Assets --
SAN DIEGO, Dec. 10, 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 Legacy Financial Planning, an independent financial advisory firm, has transitioned to the LPL Financial broker-dealer platform, bringing over $150 million of client assets.
Based in Rochester, NY, Legacy Financial Planning provides retirement and estate planning services to a national clientele through its presence in upstate New York and New England. Legacy Financial is led by Tammy Mogilski, CFP®, ChFC and Brian Bedford, CFS, industry veterans with respectively 26 and 12 years of experience. Among her many honors, Ms. Mogilski was ranked the top woman producer and the number three producer overall at the leading insurance broker-dealer where she was previously affiliated, while Mr. Bedford, had been named a member of the same insurance broker-dealer's Lifetime President's Conference, in recognition of his success in serving clients and growing his practice.
Legacy Financial has also joined the hybrid RIA platform of Private Advisor Group, an independent producer group and hybrid RIA based in Morristown, NJ, which provides independent advisors across the United States with compliance, business development, succession planning, and other back and middle office support services. Private Advisor Group is an independent producer group with LPL Financial, and its hybrid RIA utilizes LPL Financial as its primary custodian.
Bill Morrissey, Executive Vice President of Business Development at LPL Financial, said, "We are thrilled to welcome Legacy Financial Planning, which is led by two seasoned financial advisors with extraordinary reputations, Tammy Mogilski and Brian Bedford. We are pleased that such outstanding professionals have chosen LPL Financial for the comprehensive support capabilities we offer, so they may continue to service their clients with the highest quality of independent advice and complete investment freedom."
Ms. Mogilski stated, "In the course of our exploration for a new destination for our practice, we examined multiple opportunities and were invited to partner with many excellent firms. Ultimately, we found the depth of advisor resources and the uncompromised independence offered by LPL Financial to be unmatched in the industry. The assistance they are already providing us in such areas as technology, investment research, and marketing, combined with the ease of doing business on their platform, is truly extraordinary. We have now completed the transition of more than 1,500 client accounts and are eagerly looking forward to fully rebuilding our practice as independent advisors."
Mr. Bedford said, "We found LPL Financial to be head and shoulders above the rest of the industry. They have done an outstanding job of putting the client's interests first. We have also enjoyed invaluable support from Private Advisor Group, which has made our transition, and the transition of our clients, to our independent advisory firm smooth and seamless. We greatly appreciate their help and could not have done it without them."
About Legacy Financial Planning
Legacy Financial Planning is an investment advisory firm dedicated primarily to retirement and estate planning. Based in Rochester, NY, Legacy Financial Planning services upstate New York and parts of New England, and serves a national clientele. It specializes in providing retirement-oriented financial planning advice and instruction to employees of large organizations, including Fortune 500 companies. Its principals, Tamar Mogilski and Brian Bedford, and their staff serve approximately 400 clients with a total of 1,500 accounts and investment assets of more than $150 million held with the Private Advisor Group.
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.
LPL Financial. A Registered Investment Advisor.
Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and Legacy Financial Planning are separate entities from LPL Financial.
*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 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
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