LPL Financial LLC, the nation’s largest independent broker-dealer, has added approximately 100 financial professionals affiliated with JFC Financial Services, including its founder Jack Connealy, to its broker-dealer, corporate registered investment advisor and custodian platforms.
The team serves approximately $3 billion in brokerage, advisory and retirement plan assets and joins from Securities America, part of the Advisor Group network of broker-dealers.
Connealy launched his independent practice in 1992, gradually building the JFC business by developing a network of financial institutions throughout Nebraska. Over the years, the firm morphed into a large enterprise that includes independent financial professionals as well as financial institutions.
Headquartered in Lincoln, Nebraska, the firm is comprised of 17 employees and an in-house team of financial professionals, along with the 100 affiliated financial advisors who joined LPL in waves beginning in mid-January.
Seeking to expand the business’ footprint on a national scale, Connealy said he and his team turned to LPL to leverage the firm’s recruiting capabilities. He said that LPL’s technology was also a factor behind the move.
“We’ve already seen significant recruiting success in the last three months thanks to the support from LPL,” Connealy said, noting that JFC has recently recruited 12 additional advisors to the firm, including six from Advisor Group.
LPL Financial provides service to approximately $670 billion in brokerage and advisory assets as of March 31, 2020. The company provides proprietary technology, comprehensive clearing services, practice management programs and training, and independent research to 16,763 financial advisors and 700 financial institutions.