LPL Financial, a custodian for registered investment advisors (RIAs), and a wholly owned subsidiary of LPL Financial Holdings Inc, has transitioned to LPL's broker-dealer and corporate RIA custodial platforms.
Advantage reported that, based on prior business, its advisors had serviced approximately $205 million of client assets, as of 30 April, 2015.
Based in Alamo, California, Advantage is comprised of five financial advisors – V John Threlkeld, a Certified Wealth Strategist (CWS), John Saylor, CWS, Charles "Chip" Presti, CWS, Milton Guzman and Jon Lee, CFA-Level II – and a registered sales assistant. Advantage's team specialises in comprehensive financial planning, high-net-worth strategies, retirement planning, investment management, insurance and fixed income investing. Led by Threlkeld, Advantage serves a mass affluent and high-net-worth clientele throughout California, as well as other areas across the Southwest.
"We are excited about transitioning to LPL Financial," says Threlkeld, the firm's president and founding partner. "Its fully integrated platform provides exactly what we need now as well as the versatility to be able to transition our business model to a hybrid RIA firm structure in the future as we further establish our business."
Since 2003, Advantage has expanded through the successful completion of 11 acquisitions and one carve-out of a book of business. Advantage seeks opportunities to continue to grow through acquisition throughout California as well as in Arizona and other southwestern locations. Threlkeld credits LPL's large advisor base, with more than 700 advisors in California alone, for creating an environment that presents mutual opportunities for Advantage's growth as well as for succession planning for advisors.
"John Threlkeld and the Advantage team appreciated the value LPL can bring to their business, specifically around acquisition support and succession planning," says Steve Pirigyi, executive vice president of business development, LPL Financial. "We are pleased to welcome Advantage and to be able to provide them with the resources they need to pursue their strategy to expand their firm."
