Planify reported $550 million served in advisory, brokerage and retirement plan assets
CHARLOTTE, N.C., Feb. 08, 2022 (GLOBE NEWSWIRE) — LPL Financial LLC (Nasdaq: LPLA) announced today that Planify Group has joined LPL Financial’s broker-dealer, corporate registered investment advisor (RIA) and custodial platforms, aligned with LPL-affiliated firm Cornerstone Wealth Management. Joining from MassMutual, Planify Group reported to LPL that it served approximately $550 million in advisory, brokerage and retirement plan assets.*
Based in St. Louis, Planify is comprised of financial advisors Todd Gentry, Joe Heitkamp, Nick Dragan, Valerie Baker, Shannon Lewandoski and Rachel Burks. Each team member brings different areas of experience and creative thinking to their work serving a variety of clients, including business owners, affluent families, professionals and the special needs community. Through their work, the Planify team aims to help address their clients’ unique needs through holistic strategies rooted in personalized financial planning, solutions-oriented problem solving and comprehensive investment advice.
“Over the years, our group has built a solid foundation of shared priorities and values,” Heitkamp said. “Primarily, we’ve cultivated a ‘client-first’ mentality that translates into everything we do. Our prioritization method is simple: we address financial planning for our clients first and foremost, then tackle solutions and problem solving after we feel confident that we have covered our bases.”
A Mutually Beneficial Merger
Planify chose to align with LPL and Cornerstone to implement a new business strategy that would help them maximize their capabilities and better serve their clients. “We really care about our clients, and with Cornerstone and LPL we’re able to put them first. Improved technology and capabilities were another big draw for us; we needed something seamless, intuitive and secure, which we found at LPL. With more freedom, independent solutions and an open architecture platform, we’re able to offer more comprehensive and personalized experiences to our clients to better help them maintain a lifestyle both now and in the future,” Lewandoski said, noting they also appreciate the additional layer of resources from Cornerstone, including real estate, marketing and compliance.
Joe Keifer, Cornerstone co-founder and managing partner, stated: “Cornerstone Wealth Management is excited to welcome such an experienced and enthusiastic team of financial professionals to our growing community of independent advisors across the country. Planify Group is a great fit for Cornerstone, as they share our focus on providing customized financial guidance that helps people enjoy their current passions while planning for their future needs. We’re delighted to support Valerie, Nick, Todd, Joe, Shannon, and Rachel as they pursue their professional goals and guide their clients to ‘Plan Well. Live Well.’”
Scott Posner, LPL executive vice president, Business Development, stated: “We welcome Planify Group to the LPL Financial community, and we congratulate Cornerstone on growing its network of advisors. This team’s collective skillset and experience across wealth management, special needs planning and behavioral finance align perfectly with our values and goals here at LPL. We remain committed to delivering robust resources, business solutions and innovative capabilities designed to help our advisors differentiate their practice and thrive. We’re looking forward to supporting this group and following their success in the years to come.”
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About LPL Financial
LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader in the markets we serve,** supporting nearly 20,000 financial advisors, and approximately 800 institution-based investment programs and 500 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.
**Top RIA custodian (Cerulli Associates, 2020 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S. (Based on total revenues, Financial Planning magazine 1996-2021); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 Company as of June 2021. LPL and its affiliated companies provide financial services only from the United States.
* Value approximated based on asset and holding details provided to LPL from the year 2021