The Choice Group Wealth Management has joined LPL Financial’s broker/dealer and hybrid registered investment adviser (RIA) platforms.
The Choice Group Wealth Management served approximately USD420 million of client brokerage and advisory assets as of 28 April.
Based in Melville, NY, The Choice Group Wealth Management is comprised of four advisers: Ira Katz, Daniel McNicholas, John Scala and Bryce Wilinski. The firm specialises in serving clients nearing or in retirement with a focus on financial planning, including retirement planning, cash flow analysis and estate planning services.
Katz says: “We want to demonstrate the value of the independent model to advisers and clients by offering a high-quality, full-service solution in the Long Island area. By aligning with LPL’s platform, we are able to have robust choice in serving our clients’ needs and can do so with the service experience they have come to expect. In addition, we feel we are well positioned to grow our firm by appealing to like-minded advisers seeking control of their business and a compensation structure that can support their growth.
“An impetus for our move was the impending Department of Labor changes. We wanted to be proactive and align with a platform that we felt gave us access to more products and greater flexibility so we can act as a fiduciary and serve our clients’ best interests. LPL was the right partner because we have been able to evolve our offering while continuing to operate as a boutique wealth management firm.”
“We welcome The Choice Group Wealth Management to LPL,” says Craig Kamis, LPL executive vice president, business development. “Regulatory changes are forcing many advisors and firms to consider if they have the right partner to support them for the long term. Ira and his team have clear growth goals and we are proud they recognised the value that LPL’s independent platform can deliver to support those goals. By aligning with our firm, they have access to new product lines and revenue channels and the ability to tailor a business model to suit their unique needs. We look forward to supporting the team for years to come.”
