Cashman Consulting, a Redmond, Wash.-based firm that managed about $670 million in advisory, brokerage and retirement plan assets, has joined LPL Financial’s broker-dealer and corporate registered investment advisor custodial platforms, according to a release from LPL.
The 10-member firm, which provides long-term investment strategies to their client base of business owners, families and individuals, joined from Kestra Investment Services.
Jeff and Judy Cashman founded the firm in 1998 when they shifted from their third-party recordkeeping business to retirement plan consulting and individual wealth management, the release said. The firm has since grown to include their daughter, Megan Baumgartner, who is a partner and client relationship manager, and her husband, Ryan Baumgartner, partner and chief investment officer.
Cashman Consulting turned to LPL for additional resources, including access to integrated technology, economic strategists and research to enhance their client experience, the release said. “This move to LPL will make us more efficient and will provide our team with even more information to support clients with education as well as personalized investment strategies that can help them work toward their goals,” Cashman said in a statement.
Noting LPL’s robust advisory presence in the Northwest, Cashman said he believes that will help benefit their networking and growth opportunities. “We have been very impressed with LPL. Every person we talk with has an infectious energy level and service-first attitude,” he said.
Rich Steinmeier, LPL Financial managing director and divisional president for business development, said LPL “warmly welcomes the entire Cashman team to the LPL family and are proud to support their goal of providing excellent service and trusted guidance to their clients. ... Jeff and Judy have built a valuable business and we look forward to being their long-term partner as Cashman Consulting deepens its legacy.”
LPL Financial, headquartered in Fort Mill, S.C., San Diego and Boston, is the nation’s largest independent broker-dealer.