One of First Allied Securities’ affiliated independent financial advisory firms, Lifestyle Financial Advisors, has completed the merger of the Laura A Nagle independent advisory practice into its organisation.
Nagle, a 35-year industry veteran, has joined Lifestyle with more than USD167 million in client assets, as of 31 October 2016.
First Allied, an affiliate of Cetera Financial Group, a network of independent firms, assisted in facilitating the transaction in support of Michael A Wegner, CWS, founder, president and CEO of Lifestyle.
Kevin Keefe, president and chief executive officer of First Allied, says: “First Allied is very pleased to have assisted in the merger of Laura Nagle’s independent advisory practice into Lifestyle Financial Advisors. Nagle has been an extraordinarily successful, well-established financial advisor, primarily serving retirement-planning accounts in the South Houston area, and her business fits extremely well with Lifestyle’s advisory specialties and geographic footprint. In joining Lifestyle, Nagle’s clients will gain access to an expanded suite of top-quality wealth management solutions and services through Lifestyle, First Allied and the Cetera network.
“First Allied has dedicated significant resources to helping our advisors realise their expansion goals, and we are delighted to assist Lifestyle in continuing to fulfil its growth strategy of adding additional advisors to its business in the South Texas region.”
Lifestyle Financial Advisors, based in Friendswood, Texas, is an independent retirement and estate-consulting firm offering a wide range of wealth-creation and preservation strategies. It provides asset management, investment solutions and insurance, as well as education planning services, to a predominantly mass-affluent clientele, largely in the petrochemical industries.
Lifestyle has a total of seven advisers who provide both commission- and fee-based advisory services, as well as five professional support staff.
With the addition of the Laura Nagle practice, Lifestyle will now serve approximately USD510 million in client assets.
In addition to its headquarters in Friendswood, Lifestyle has offices in Texas City and Deer Park, Texas, all in the Gulf Coast area.
Wegner says: “I am excited that Laura Nagle has joined our firm. I have known Laura as a local colleague and competitor for many years and continue to admire the exceptional business she has built. Although we serve similar clients, in the same geographic region, with similar financial needs, I believe they will benefit from their new affiliation with Lifestyle and its multi-advisor capabilities, as well as from the expanded resources and asset management solutions available through First Allied and Cetera. Furthermore, I believe that Laura’s predominantly commission-based business will better service many of her clients by offering them the option of both commission- and fee-based advice through Lifestyle.
“With this merger, and following our other recent advisor acquisitions, Lifestyle now has the people, the assets and the offices to grow our business substantially over the next several years, and is well positioned to attract additional advisors into the firm.”
Nagle began her career in the teaching profession before switching to financial advising 35 years ago. A segment of her business is still in 403(b) retirement planning for educators, but today she primarily serves the retirement rollover and retirement planning needs of clients in the petrochemical industries.
Nagle says: “I am delighted to join my practice to Lifestyle Financial Advisors and offer my clients more services and solutions than I previously could. I am also pleased to affiliate with a firm so committed to the independent advisory model, which will allow me to continue to provide my clients with a close personal relationship and offer them a wide range of open-architecture, non-proprietary products and financial solutions that best meet their financial needs.”