Veteran LPL Financial Senior Executives Form FirstPoint Partners, a "First Point" of Contact for Advisors Looking to Make a Change

SAN DIEGO, July 28, 2011 /PRNewswire/ -- Former LPL Financial (NASDAQ: LPLA) Senior Executives of Business Development announced today the launch of FirstPoint Partners, LLC, a boutique consulting and recruiting firm that serves financial advisors transitioning to and/or within an independent, hybrid or RIA business model. The firm will use a consultative approach when helping advisors select from the myriad of options available to them.

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"With more than 60 years collective experience as both advisors and Senior Executives – on both the wirehouse and independent sides of the business – we truly understand the vast differences between broker-dealers and custodians, as well as what it takes to transition from one platform to another," says Scott Collins, Founder and Chief Executive Officer of FirstPoint Partners. "We know advisors only make one or two moves in their career – we want to make sure those moves are for the right reasons and are advantageous."

"After 20 years touting the merits of independence, we decided to practice what we preach," says Scott Miller, President of FirstPoint Partners. "The new firm allows us true objectivity in what we recommend to our clients. We now work with an entire spectrum of independent broker-dealers and custodial platforms rather than just one."

FirstPoint Partners founders Scott Collins and Scott Miller are long-time former Senior Executives of LPL Financial, which went public in November 2010, as well as former Merrill Lynch financial advisors. The two formed FirstPoint Partners to fill what they saw as a knowledge-gap between advisors seeking independence and/or changing firms and objective advice in the selection process. The team felt that serving the industry as an independent third- party would allow them to better serve advisors.

The firm is strengthened by expertise from additional long-time former LPL recruiter Scott Montgomery, Senior Vice President of Business Development. Montgomery brings more than 9 years recruiting experience from LPL and more than 12 years of experience in sales as- a wholesaler and financial advisor. Furthermore, FirstPoint Partners has strategic partnerships with industry experts in areas such as Legal, Business Consulting and Succession Planning, RIA formation, Compliance and Risk Management.

In their former roles, the team was involved in transitioning more than $750 million in advisor revenue. Their experience negotiating contracts from the broker-dealer side helps put advisors in the control seat throughout the process. Both founders' experience as financial advisors translates to a personal understanding of the significance and magnitude of transitioning to independence and/or changing firms.  

About FirstPoint Partners, LLC

FirstPoint Partners is a boutique consulting and recruiting firm that serves financial advisors transitioning to and/or within an independent, hybrid or RIA business model. Founded in early 2011, the firm was created on the premise that in order for a financial advisor to consider a move, they should know the options available to them in the marketplace. FirstPoint Partners' management team has more than 60 combined years of experience for industry leaders, such as LPL Financial and Merrill Lynch, and has worked with thousands of advisors. The firm's consultative approach analyzes an advisor's practice and needs and helps shape how their practice will look in the future. Advisors receive insider knowledge as to which platform is the best fit for them, deal negotiation and a shortened decision-making process which can save significant time and resources in the long-run.  For more information, please visit www.FindYourFirm.com

SOURCE FirstPoint Partners, LLC