Woods Financial Group, a Fort Worth, Texas-based firm looking to enhance its business continuity plan, has joined LPL Financial’s broker-dealer, corporate registered investment advisor and custodial platforms, according to an announcement from LPL.
The two-member advisory team, which manages about $130 million in advisory, brokerage and retirement plan assets, joins from Concorde Investment Services.
Joel Woods founded the firm in 1986 and was joined by Mark Smith in 2004. They have three support staff members. The team provides comprehensive wealth management to retired individuals and multigenerational families.
Woods said LPL’s vast network of advisors puts his team in a better position to expand their business and bring a younger financial advisor into the practice to ensure clients are taken care of well into the future. “We built our entire business on referrals and take great pride in taking care of our clients,” Woods said in a statement. “My clients know I’m of retirement age and they want to know what’s going to happen going forward. We’re already working with LPL’s M&A team to find a like-minded advisor who can come in and continue the work we started decades ago.”
Scott Posner, LPL's executive vice president of business development, said the company recently launched LPL’s M&A Solutions, which provides a trusted partner and end-to-end support to guide advisors throughout the mergers and acquisition process.
“Our advisors are our entire focus," Posner said, "and we are committed to making continuous investments in innovative capabilities such as this to help them protect their legacy and take care of their clients well into the future."