LPL Financial Welcomes Capstone Financial Partners

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CHARLOTTE, N.C., Aug. 02, 2021 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq: LPLA) announced today that financial advisors Robert Allen, MBA, ChFC®, CLU®, Marcel Morin, AIF, CLTC, CFS®, and April Davis of Capstone Financial Partners have joined LPL Financial’s broker-dealer, corporate registered investment advisor (RIA) and custodial platforms. The team reported having served approximately $170 million in advisory and brokerage assets*. They join LPL from Kestra Financial.

Allen, who started his career as a personal trainer before shifting to the financial services industry, founded Capstone Financial Partners in 2007 in his hometown of Glen Allen, Va. Having completed two Ironmen triathlons, Allen said he takes that same disciplined approach and “mental toughness” to help clients with long-range planning as they work toward their financial goals. He built the business from the ground up, and as his client base grew, so did the practice. Morin, now a partner in the firm, started his practice in his home state of Maine before settling in Virginia. He joined Capstone in 2015, followed by Davis in 2019. The team also includes Brad Gibson, portfolio strategist, and Stephanie Young, client services representative.

The advisors believe in the importance of giving back and educating the community. They are all instructors at the University of Richmond’s School of Professional and Continuing Study, where they lead courses on investing, retirement planning, financial planning and women in wealth. “We also take an education-first approach to helping our clients, making sure to teach them how investing and financial planning works,” Allen said, noting that the team works primarily with families and multigenerational wealth. “We believe that an educated consumer makes better decisions in their financial lives.”

After assessing their targeted growth, Allen and team decided it was time to find a new wealth management firm to support the future of their business. “We spent months going through the due diligence process and ultimately determined that LPL was the best fit to provide our clients with increased efficiencies and enhanced technology,” Allen said. “We appreciate LPL’s commitment to investing significant resources into technology in an effort to create simple, seamless integrations for our clients.”

Allen added that Capstone’s long-range plans include hiring a junior Certified Financial Planner and at least two more advisors. He stated, “We want to recruit and hire the next generation to ensure the continuity of our business and client coverage. We expect our growth to accelerate over the next few years, and are confident that LPL will provide us with the innovative resources and solutions to keep up with our trajectory.”

Scott Posner, LPL executive vice president, Business Development, stated, “We welcome Rob, Marcel and April to the LPL family and are proud to serve as their new partner. These advisors have gone to great lengths over the years to nurture their practice and give back to the community through financial education. We understand how the value of those personal connections contributes to the overall strength of their firm. At LPL, we are committed to providing all of our advisors with innovative technology and differentiated service experiences so they can run efficient, productive and client-centered business. We look forward to supporting Capstone Financial Partners today and into the future by offering a choice of business models and capabilities that can meet them wherever they are in the evolution of their practice.”

Read about other firms that recently joined LPL in the LPL Financial News and Media section of LPL.com.

Advisors, find an LPL business development representative near you.

About LPL FinancialLPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader** in the markets we serve, supporting more than 18,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to objective guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.

** Top RIA custodian (Cerulli Associates, 2019 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S (Based on total revenues, Financial Planning magazine June 1996-2020); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 as of June 2021

*Based on prior business and represents assets that would have been custodied at LPL Financial, rather than third-party custodians. Reported assets and client numbers have not been independently and fully verified by LPL Financial.

Securities and advisory services offered through LPL Financial LLC, an SEC- registered broker-dealer and investment advisor. Member FINRA/ SIPC

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial LLC. We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

Capstone Financial Partners and LPL Financial are separate entities.

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