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Financial services

Beacon Financial Joins LPL Financial's Broker-Dealer Platforms

Strategic Insights

— 2 min read

Beacon Financial, a team of 10 financial advisors led by Principal Owner and CEO Greg Kopan, has joined LPL Financial's broker-dealer and Registered Investment Advisor (RIA) platforms, aligning with Momentum Wealth Partners. The team, which serves clients with approximately $850 million in advisory, brokerage, and retirement plan assets, was previously with Cetera. Beacon Financial's decision to partner with LPL and Momentum was driven by the desire to provide an elevated experience for their clients, who range from business owners and professionals to those nearing or in retirement. The team conducted extensive research and due diligence before selecting LPL and Momentum as their partners, citing their strategic succession planning team, robust integrated technology, and commitment to cybersecurity.

Key Takeaways:

  • Beacon Financial, a multi-generational practice led by Principal Owner and CEO Greg Kopan, has joined LPL Financial's broker-dealer and RIA platforms, aligning with Momentum Wealth Partners.
  • The team serves clients with approximately $850 million in advisory, brokerage, and retirement plan assets, which were previously held at Cetera.
  • The decision to partner with LPL and Momentum was driven by the desire to provide an elevated experience for Beacon Financial's clients, who range from business owners and professionals to those nearing or in retirement.
  • Beacon Financial conducted extensive research and due diligence before selecting LPL and Momentum as their partners, citing the firm's strategic succession planning team, robust integrated technology, and commitment to cybersecurity.
  • LPL Financial supports nearly 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.8 trillion in brokerage and advisory assets on behalf of approximately 7 million Americans.
  • The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools, and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses.

Statistics:

  • Approximately $850 million in advisory, brokerage, and retirement plan assets serviced by Beacon Financial.
  • 10 advisors joining LPL Financial from Cetera as part of Beacon Financial's team.
  • Nearly 29,000 financial advisors supported by LPL Financial.
  • 1,200 financial institutions serviced and custodied by LPL Financial.
  • $1.8 trillion in brokerage and advisory assets serviced and custodied by LPL Financial.
  • 7 million Americans benefiting from LPL Financial's services.
  • $500 million spent by LPL Financial on technology infrastructure and cybersecurity in 2024.

Sources:

  • LPL Financial Holdings Inc. (Nasdaq: LPLA)
  • Beacon Financial
  • Momentum Wealth Partners
  • Cetera
  • FINRA/SIPC
  • Contify.com

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