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LPL FINANCIAL HOLDINGS INC.

(LPLA)
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LPL Financial : Supports Boggs & Company Wealth Management Launch

06/21/2021 | 09:05am EDT

CHARLOTTE, N.C. - June 21, 2021 -LPL Financial LLC today announced that financial advisor Larry Boggs has launched a new independent practice, Boggs & Company Wealth Management, through affiliation with LPL Financial's Strategic Wealth Services (SWS) model designed to support the unique needs of breakaway advisors. Boggs and his team reported having served approximately $1.3 billion in advisory, brokerage and retirement plan assets*. They join LPL from Wells Fargo Advisors.

With more than 45 years of financial services experience, Boggs has built a 13-member multigenerational team that includes his three daughters: financial advisor Mirjhana Buck and Dagenais Boggs and Koosie Boggs, who support business operations. 'We like to think of it as our family taking care of your family,' said Boggs, noting that the team develops relationships with each client to provide personalized advice, making a point to help them understand the reasoning behind their recommendations.

With headquarters in Cumberland, Md., the Boggs team provides comprehensive financial advice, retirement planning, business services, education funding, estate planning strategies, special needs trusts and other wealth management services to families and business owners throughout the region. In addition to the Boggs family, the team includes financial advisors Brian Kelly, Patsy Stullenbarger, Steven Stroup and Cady Rankin, with operations support from Michelle Lucas, Janet Shroyer, Brenda Mulligan, Molly Beeman and Christina Crites.

After more than four decades with his previous firm and its predecessors, Boggs decided it was time to break away from the wirehouse. He interviewed more than 15 firms before choosing to move the practice to LPL so he could run the business on his own terms and enhance the client experience. 'The industry is evolving and it became obvious we needed to update our approach to the business,' Boggs said.

'LPL offers the independence and flexibility I've been craving,' Boggs said. 'It gives us the ability to better accommodate our clients' needs and incorporate additional elements of financial planning into our firm. We have three CFPs on the team who have not been able to leverage their full potential. With the move to LPL, they will have the chance to take their skillsets to the next level and grow with the team, ultimately better serving our clients.'

Committed support from LPL Strategic Wealth Services

Boggs called LPL's SWS model a true differentiator. In addition to leveraging LPL's integrated wealth management platform and sophisticated resources needed to run a thriving practice, the SWS model delivers ongoing, personalized support for daily operations and long-term business management. Early in the journey, SWS bridges the transition to independence by providing the team with dedicated support and services to launch their practice, including real estate build out, brand development, technology setup and HR support. Once the transition is complete, the value shifts to the ongoing strategic, administrative, marketing and CFO support that allows advisors to stay focused on the enduring needs of their clients, culture and evolution of their practice.

'The SWS channel offered us a great opportunity to better serve our clients. From remote assistants to innovative technology and back-up support, it allows us to truly focus on what matters most-our clients,' Boggs said, also noting that he is especially looking forward to ability to leverage social media, which was difficult in the wirehouse environment.

Aside from business, the advisors and staff members at Boggs & Company are all active in their communities and believe in the importance of giving back. Boggs is chairman of the investment committee for the Endowment Fund and the Operating Fund for the University System of Maryland Foundation Board. He is also a member of the Western Maryland Health Systems Foundation Board and the Treasurer of The League, which supports special needs children. In 2018, Boggs received the Allegany County Chamber of Commerce Community Service award.

Scott Posner, LPL executive vice president, Business Development, said, 'We are honored to welcome Larry Boggs and the entire team at Boggs & Company Wealth Management to LPL Financial. As the newest affiliate of LPL's innovative Strategic Wealth Services platform, we look forward to supporting their independent practice with a dedicated and fully integrated team for years to come. At LPL, we are committed to being a long-term partner through each step of an advisors' business lifecycle. We strive to meet advisors where they are in the evolution of their practice by delivering a sophisticated wealth management platform and robust business resources designed to help them differentiate their practice and be successful serving the needs of their clients. We look forward to an exciting journey ahead with Boggs & Company Wealth Management.'

Learn more about Boggs & Company Wealth Management. Read about other firms that recently joined LPL in the LPL Financial News and Media section of LPL.com.

Advisors, find an LPL business development representative near you.

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 more than 17,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to objective 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.

*Based on prior business and represents assets that would have been custodied at LPL Financial, rather than third-party custodians. Reported assets and client numbers have not been independently and fully verified by LPL Financial.

** Top RIA custodian (Cerulli Associates, 2019 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S (Based on total revenues, Financial Planning magazine June 1996-2020); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report)

Securities and advisory services offered through LPL Financial LLC, an SEC- registered broker-dealer and investment advisor. Member FINRA/SIPC.

Throughout this communication, the terms 'financial advisors' and 'advisors' are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial LLC. We routinely disclose information that may be important to shareholders in the 'Investor Relations' or 'Press Releases' section of our website.

Boggs & Company Wealth Management and LPL Financial are separate entities.

Disclaimer

LPL Financial Holdings Inc. published this content on 21 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 June 2021 13:04:03 UTC.


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Capitalization 11 217 M 11 217 M -
EV / Sales 2021 1,71x
EV / Sales 2022 1,48x
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