Equitrust Financial Group, Ltd., a Deerfield, Ill.-based firm that managed about $800 million in assets, joined LPL Financial’s broker-dealer and corporate registered investment advisor platforms.
The 12-member firm, founded in 1989 by Steven Hyman and Charles Noparstak, joins from Securities America, according to a release from LPL.
The team includes financial advisors Felix E. Aisen, Joshua S. Noparstak and Gail V. Crowley, along with a seven-member support staff, according to the release. It provides wealth management, retirement income planning, employee benefits, life insurance and long-term care strategies to a multi-generational client base of individuals and small business owners.
Noparstak said they believe it is in the best interest of their clients to work with a publicly listed company and one with self-clearing capabilities. Additionally, he said LPL stood out for its excellence in technology and business operations. “Our staff was blown away by how easy it could be to run our business; we have already seen an uptick in office efficiency simply because of something as simple as there being fewer forms to have to fill out,” he said in a statement.
Rich Steinmeier, LPL Financial managing director and divisional president, business development, said LPL is honored that Equitrust chose it as their partner. “The Equitrust team takes pride in its independence, and we welcome the entire team to LPL’s independent family. The client relationships they have built over time have been earned through the transparency they provide in their delivery of advice, which is designed to uniquely suit each individual clien," he said, adding that LPL values that approach and, also believe that through a rich understanding of a client’s goals and a commitment to help them translates to a true partnership.
LPL Financial, headquartered in Fort Mill, S.C., San Diego and Boston, is the nation’s largest independent broker-dealer.