Cornerstone Wealth Strategies (Cornerstone) has joined LPL’s broker-dealer platform and will provide fee-based advisory services through Financial Advocates Investment Management, an independent RIA on LPL’s hybrid RIA platform.
Cornerstone reported that, based on prior business, the firm had served approximately USD300 million of client assets, as of 30 June, 2015.
Based in Kennewick, Washington, the Cornerstone team includes two advisors, Matt Riesenweber and Matt Wiser as well as an operations manager and two client service specialists. Cornerstone has been serving clients in the Kennewick and surrounding area for more than a decade and provides financial planning, investment management, retirement planning, estate planning and insurance and annuities services to professionals, small business owners and others.
“Joining LPL Financial is an excellent opportunity for Cornerstone’s clients, my team and the long-term direction of our firm,” says Riesenweber. “The increased flexibility and resources are invaluable, and we feel our clients will greatly benefit from the independent model of our firm.”
“We welcome the Cornerstone team to LPL,” says Steve Pirigyi (pictured), executive vice president of business development, LPL. “We appreciate that Matt and his team place great importance on the experience they provide to their clients. We look forward to supporting them with tools and resources to enable them to provide their clients with objective financial advice and to help them take their business to the next level.”