LPL Financial Recruits $670 Million Firm from Kestra
LPL Financial LLC, the nation’s largest independent broker-dealer, has added Cashman Consulting to its broker-dealer and corporate registered investment advisor platforms.
LPL Financial LLC, the nation’s largest independent broker-dealer, has added Cashman Consulting to its broker-dealer and corporate registered investment advisor platforms. The firm serves approximately $670 million in advisory, brokerage and retirement plan assets, and its advisors join from Kestra Investment Services.
The Redmond, Washington, firm was founded in 1998 when Jeff and Judy Cashman shifted from their prior third-party record keeping business to retirement plan consulting and individual wealth management. The firm has since grown into a 10-member group that includes their daughter, Megan Baumgartner, who serves as partner and client relationship manager, and her husband, Ryan Baumgartner, a partner and chief investment officer.
The team provides investment strategies to their client base of business owners, families and individuals.
“As retirement plan specialists, we have a plan for every client, working hard to support clients through the inherent uncertainty that comes with balancing the bull and bear markets for the long run,” said Jeff Cashman. “We take a hands-on approach and view ourselves as the quarterback to help run retirement plans.”
Cashman Consulting said that they “turned to LPL for additional resources, including access to integrated technology, economic strategists and research to enhance their client experience.”
LPL Financial provides service to approximately $762 billion in brokerage and advisory assets as of June 30, 2020. The company provides proprietary technology, clearing services, practice management programs and training, and independent research to 16,973 financial advisors.
