LPL Financial today announced that a former Morgan Stanley advisor who handled $300 million in advisory, brokerage and retirement plan assets has joined its broker-dealer, hybrid registered investment advisor and custodial platforms.
Francis Ciocari has aligned with Gladstone Wealth Partners and will partner with LPL advisors to launch a new Gladstone Wealth Partners office in Blue Bell, Pa., the release said. Joining him are longtime assistant and client relationship manager Christine Buck Nolan.
Ciocari, who spent eight years at Morgan Stanley and 15 years prior to that at Merrill Lynch, according to his BrokerCheck profile, said his firm primarily serves corporate executives and affluent investors.
Ciocari said that, while working remotely during the Covid crisis, he decided that the best way to serve his clients was by owning his business and firmly having control over his process. “It’s refreshing to have complete autonomy in the way we build the practice. As independent advisors, we can offer full transparency and operate in our clients’ best interests,” he said in a statement.
“LPL is a Fortune 500 company with a great reputation, committed to investing in innovative technology and resources. I wanted my clients to feel comfortable knowing I was partnering with an industry leader and the best in the independent space. And on top of that, with Gladstone we have access to invaluable resources, turnkey support and additional help with compliance, leaving me with more time to spend supporting clients and their investments. It’s a win-win,” added Ciocari.
Richard Frick, managing partner and CEO at Gladstone Wealth Partners, said he looks forward to growing this Philadelphia suburb market with Ciocari. “I’ve known Fran for years and to be able to support him as he transitions to the independent channel is an awesome feeling. The momentum just continues for Gladstone and the independent space, and we believe this hybrid office environment will continue to accelerate it. We are committed to supporting our advisors every day with personalized services designed to help them succeed,” he said.