LPL Financial LLC, the nation’s largest independent broker-dealer, announced that Retirement & Investment Group has joined LPL’s broker-dealer and corporate registered investment advisor (RIA) platforms. Joining from Raymond James Financial Inc., a broker-dealer with $790 billion in total client assets, the firm reported that it served approximately $200 million of client brokerage and advisory assets.
Based in Catonsville, Maryland, Retirement & Investment Group delivers investment and financial planning services to clients in or near retirement, building a distribution plan that can support their long-term financial needs.
“LPL capabilities allow me to keep operating costs down while also being able to maximize productivity and access resources that will make a difference in the support we provide,” said Tom Quirk, president of Retirement & Investment Group. “I’m particularly excited about the integration features in ClientWorks. I can automate investment analysis and produce reports, which makes it much easier on my end and improves the quality and experience for my clients. Those types of opportunities have the potential to add a lot of value to our practice.”
Quirk was attracted to LPL’s technology and wanted to take advantage of LPL’s scale to create cost efficiencies in his practice and to benefit from the choice and flexibility of LPL’s independent model to meet the needs of the investors he serves.
“We welcome Tom and his team to the LPL family,” said Rich Steinmeier, LPL Financial managing director and divisional president, business development. “We are proud he chose us to be his partner to support his growth. Investing in technology is a key focus for our firm, and we will continue to evolve our offering so that our advisors can increase efficiency, enabling them to spend more time with their clients. We look forward to supporting Tom and his firm’s future success.”
LPL Financial provides service to approximately $681 billion in brokerage and advisory assets as of the third quarter of 2018. The company provides proprietary technology, comprehensive clearing services, practice management programs and training, and independent research to more than 16,000 financial advisors and 700 financial institutions.