LPL Financial LLC, the nation’s largest independent broker-dealer, has added CR Davis & Company to its broker-dealer, corporate registered investment advisor, and custodial platforms. The team serves approximately $110 million in advisory, brokerage and retirement plan assets, and previously operated its own broker-dealer.
CR Davis & Company dates back to the 1920s when family patriarch C. Russell Davis founded the company just before the Great Depression. Three generations later, his grandson Jeffrey Gibbs now heads the Springfield, Illinois-based practice with his business partner, longtime friend and fellow financial advisor, Brad Welker. The pair offers comprehensive wealth management, financial planning and education services to families and individuals.
“We are strong believers in educating our clients. The more we can talk to them about the reasons behind their investments and paint a picture of where they are heading, the better understanding they have of their overall financial landscape,” said Gibbs.
Gibbs and Welker said that they joined LPL to relieve some of the back-office operations, help lower fees, and provide their team and clients with technology.
“Having LPL as a partner allows us to be more client-oriented and concentrate on our specialty, which is mutual funds and individual accounts, not managing paperwork and dealing with government regulations,” Welker added.
LPL Financial provides service to approximately $903 billion in brokerage and advisory assets as of December 31, 2020. The company provides proprietary technology, clearing services, practice management programs and training, and independent research to 17,287 financial advisors.