Former Janney Team With $830 Million in Assets Launches Independent Practice With LPL

Financial advisers Logan Reed, CFP, CEPA, CIMA, CLU, AIF, James “Jim” English III, Michael Allegra Jr., CRPC, and Matthew Fleming, CFP, have launched a new independent practice. Thimble Island Private Wealth is affiliated with LPL Strategic Wealth Services, LPL Financial’s supported independence model.

The Thimble Island team reported having served approximately $830 million in advisory, brokerage, and retirement plan assets and was previously with Janney Montgomery Scott.

Based in New Haven, Conn., the adviser quartet share a commitment to providing personalized, concierge-level service to their clients. They said they take a collective approach to help ensure that each client receives hands-on attention for their unique financial needs.

“We are relentless in our focus to help clients work toward their financial aspirations,” said English. “We believe success is measured not only in market returns, but by being with clients throughout each important milestone. We’ve been helping people plan for their future and manage their finances for so many years that we’re now serving fourth and fifth generations at our boutique practice.”

“We are thrilled to join LPL Financial and gain access to the firm’s best-in-class resources for today and in the future,” said Reed when explaining the reason they chose to affiliate with LPL.

“LPL’s open architecture platform, robust resources and dedication to independence are in perfect harmony with our values and goals. We believe this move will allow us to provide an even more comprehensive and personalized financial planning experience for our clients.”

Like several other adviser teams launching independent practices of late – e.g., Heritage Private Wealth, MG Partners Private Wealth, and Grafton Wealth Advisors – the team chose to affiliate with LPL Strategic Wealth Services as it offers both operational and strategic services. LPL said Strategic Wealth Services advisers benefit from simplified pricing, technology, and launch support. Post-transition, teams receive ongoing operations support via a business strategist, marketing partner, chief financial officer, and administrative assistant. Advisers have one point of contact and priority access to advocacy and project management for complex business issues.

“As entrepreneurs, we want to focus on client relationships and adding value,” Fleming said. “LPL gives us dedicated resources and sophisticated capabilities behind the scenes to allow us to run the business as we see fit while also ensuring clients are getting the best care.”

With the move to LPL, they chose to rebrand the firm to Thimble Island Private Wealth. “This is a nod to the chain of islands off the coast of Branford, which holds historical significance locally and on a national level,” Allegra said. “It’s a beautiful spot that’s also very complex, which is symbolic of our business and how we help clients navigate through complex financial landscapes.”

“We extend a warm welcome to Logan, Jim, Mike and Matt and congratulate them on going independent with LPL Strategic Wealth Services,” said Scott Posner, executive vice president of business development.

“We appreciate their steadfast commitment to putting clients’ needs first as they build out their ideal practice, and we will be with them each step of the way as we deliver personalized resources, innovative business tools and a sophisticated wealth management platform designed to help advisers thrive.”

LPL Financial Holdings Inc. serves nearly 23,000 financial advisers, including advisers at approximately 1,100 enterprises and 570 registered investment adviser firms nationwide. Headquartered in San Diego, its total advisory and brokerage assets totaled more than $1.44 trillion as of March 31, 2024.

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