LPL Financial today announced that Rosemont Financial Group, an Albany, N.Y.-based registered investment advisor with about $900 million in advisory, brokerage and retirement plan assets, has joined its broker-dealer and corporate registered investment advisor custodial platform.
The team joins from Cambridge Investment Research Advisors.
According to the announcement, Rosemont was founded in 2010 by five associates of a global financial firm looking to bring added value, experience and teamwork to both their existing client base and potential new clients. It has grown to include 11 financial advisors led by Steven Novotny, president, and Paul Coluccio, vice president. The other advisors are René Farrington, Christopher Gilbert, Cody Wojdyla, Judith Odell, Ross Fábregas, Joseph Turo, Christopher Dacey, Lorraine Reith, and Christopher Noonan. The team is supported by a trading assistant and a five-member office support team, including two accountants.
The Rosemont team offers comprehensive wealth management and financial planning to corporations, families and individuals with a mission to help clients “gain through confidence,” the release said. Its services include investment analytics, executive compensation, portfolio management, retirement planning and estate planning, as well as tax assistance from the firm’s CPAs.
Novotny said, due to Covid-19, the team needed a partner with enhanced technology. “With more clients at home looking to access their information online or through conference calls, we recognized the need to find a partner that offers enhanced technology. LPL stood out as an industry leader, with an online portal that is easy for our clients to use and navigate. And for our advisors, with everything integrated into one platform, it’s easier to manage our business and put more time toward working with our clients,” he said in a statement.
Additionally, he said the fact that LPL is self-clearing allows the team to save time and costs. LPL’s research offerings also help clients make more sense of the financial landscape and investment strategies, he said.
Rich Steinmeier, LPL’s managing director and divisional president for business development, said as advisors moved to a virtual role, they have demonstrated a commitment to clients. “But the experiences of this year shined even more light on the role technology, digital capabilities and partnership play in an advisor’s practice. Advisors need robust resources to differentiate the client experience and to manage a resilient practice,” he said.