Firm's Affiliation with LPL to be a Vital Feature in Recruiting New Independent Advisors to the 360 Financial Independent RIA Group
San Diego, CA - February 3, 2014 - LPL Financial LLC, the nation's largest independent broker-dealer, an RIA custodian, and a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today announced that 360 Financial has joined the LPL Financial RIA custodial and broker-dealer platforms. Led by its founder and president, veteran financial advisor Mike Rogers, 360 Financial features a total of four financial advisors as well as additional professional support staff. As of December 1, 2013, 360 Financial advisors supported brokerage and fee-based assets for private wealth management clients totaling approximately $150 million and, as of December 31, 2013, retirement planning assets of $120 million.
Based in Minnetonka, MN, 360 Financial provides a comprehensive offering of investment management and financial planning services, primarily on a fee basis, for retail clients and for qualified and non-qualified employer-sponsored retirement plans. Its private client wealth management business serves a mass-affluent to high-net-worth retail investor base, largely in the Minnesota region, with a particular focus on baby-boomer-generation business owners and professionals. Its retirement planning services, for defined-benefit and defined-contribution plans, targets mainly small to mid-size businesses and large professional services firms.
Mr. Rogers and the firm's three other financial advisors have been frequent recipients of prestigious industry awards. Mr. Rogers received the Five Star Wealth Manager Award* six times, for 2008 and for each year from 2010 - 2014. Dan Mahoney received the award three times, for 2012 - 2014, and each of Jeff Thompson and Tom Whitnah received it for 2013 and 2014. In addition, the firm was named to the NABCAP Premier Advisors list by the National Association of Board Certified Advisory Practices for 2011, 2012 and 2013.**
Bill Morrissey, Executive Vice President of Business Development at LPL Financial, said, "We are happy to welcome 360 Financial to LPL. We are pleased that our extensive product offering and capabilities continue to attract top quality advisors seeking to give their clients the very best in wealth management and financial planning services. We are also gratified that 360 Financial recognizes that the LPL brand, with our broad array of products and practice management support services, will enable their growing firm to attract new independent advisors to join their independent RIA advisor group. Our ability to assist such entities to grow and thrive is an important component of the total LPL service offering."
Mr. Rogers stated, "360 Financial is dedicated to providing our clients with a 'big picture' financial plan that puts them at the center of the planning process and enhances their ability to lead their lives with a strong sense of purpose. Affiliating with LPL will help us provide them with the unbiased financial advice and the 360-degree service that will help them to pursue their long-term financial goals.
"Additionally, LPL will be a cornerstone for us as we build 360 Financial into a full-service, turnkey OSJ, back and middle office services provider for independent financial advisors seeking to establish or grow their own practices within the greater Minneapolis area under the umbrella of the established 360 Financial brand. As part of our complete support services, including quality office and conference space, administrative and marketing support, and compliance reporting, the outstanding resources provided by LPL will play a vital role in complementing our capabilities. We view LPL as a leading partner in our future success."
*'2012-2014 Five Star Wealth Manager award based on 10 objective criteria associated with providing quality services to clients such as credentials, experience, and assets under management among other factors. Prior to 2012, award was based on client satisfaction. Respondents evaluated criteria such as customer service, expertise, value for fee charge and overall satisfaction. The overall score is based on an average of all respondents and may not be representative of any one client's experience.
**Award based on an evaluation of twenty different practice categories such as experience, credentials, assets under management, fee structure and philosophy among other factors.
About 360 Financial
Based in Minnetonka, MN, 360 Financial provides comprehensive investment management and financial planning for retail clients and retirement plan sponsors. Its expertise includes such areas as investment advice, investment management, wealth planning, asset protection, estate tax planning, retirement planning, retirement income, 401k rollovers, IRAs, and long-term care insurance. Its "Big Picture" 360-degree strategy puts the client at the center of the financial planning process. The firm's four financial advisors, led by Mike Rogers, IAF®, President and founder, each have over 25 years of industry experience. As an advisor group, 360 Financial also provides a turnkey solution for financial advisors seeking the benefits of independence while under the umbrella of an established brand.
Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through 360 Financial, a registered investment advisor and separate entity from LPL Financial.
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq:LPLA), is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine, June 1996-2013), an RIA custodian, and an independent consultant to retirement plans. LPL Financial offers proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to over 13,500 financial advisors and approximately 700 financial institutions. In addition, LPL Financial supports over 4,500 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have approximately 3,000 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.