LPL Financial today announced that a Texas team of advisors managing about $215 million in advisory, brokerage and retirement plan assets has left Securities America, part of the Advisor Group network of broker-dealers, to join its broker-dealer, corporate registered investment advisor and custodial platforms.
Steven Allison, Jonathan “David” Cummings and Raymond Empkey aligned with JFC Financial Services, a large enterprise that recently joined LPL.
Allison and Cummings, who are based in Hurst, Texas, specialize in employee stock ownership plans and 401(k) retirement plans, working with business owners around the country to help them transition into retirement, according to the announcement. It said the two became partners in 2010 after working as colleagues since 2002. Empkey, their longtime acquaintance, plans to join the group this year. He has been in the industry since 1994 and focuses on retirement income and wealth transfer, the release noted.
The advisors turned to LPL and JFC seeking an enhanced client experience, to create office efficiencies and to take advantage of LPL’s self-clearing capabilities, the release said. “LPL’s technology is incredibly user-friendly, not just for advisors but for our clients as well. We’re able to seamlessly move from one tool to another within the same integrated platform. Also, as a publicly traded company, LPL also offers stability as a long-term partner. We are excited about this next chapter in our business,” Cummings said in a statement.
Empkey added, “We also appreciate the added benefit of JFC’s partnership, enhanced service experiences and network of other like-minded advisors.”
In welcoming the team and congratulating JFC on its continued growth, Scott Posner, LPL executive vice president, business development, said, “Our entire focus is to support our advisors and make it easier for them to provided trusted financial guidance for their clients. We look forward to connecting this team to the resources and technology that can help them reach their goals and make a difference in their clients’ lives.”
Headquartered in San Diego; Fort Mill, S.C.; and Boston, LPL Financial is the nation’s largest independent broker-dealer. The firm supports more than 17,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide.