LPL Financial Welcomes Financial Advocacy Network and its Four Member Independent Advisor Practices to Broker-Dealer and RIA Custodial Platform - 8NEWS - WRIC | News Where You Live

LPL Financial Welcomes Financial Advocacy Network and its Four Member Independent Advisor Practices to Broker-Dealer and RIA Custodial Platform

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Newly Launched Independent Hybrid RIA Group to Leverage Broad Range of Experience Among Member Independent Advisor Practices

San Diego, CA (PRWEB) August 20, 2014

LPL Financial LLC, the nations largest independent broker/dealer, an RIA custodian, and a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today announced that Financial Advocacy Network (FAN) has joined the LPL Financial broker-dealer and RIA custodial platform. The advisors of FAN, a newly launched independent hybrid RIA group that supports four independent financial advisory practices with a total of 13 financial advisors, have a total of approximately $450 million of advisory and brokerage client assets, as of April 15, 2014.

Based in the Washington, DC, area, FAN was co-founded by veteran financial advisor Chris Cox, along with his wife Amy Fernicola Williard, who serves as the groups compliance officer, and Marty Sullens, the groups head of business development. FANs mission is to empower experienced fee- and commission-based financial advisory practices that seek to be independent, but do not desire to be alone. Towards this end, FAN provides a comprehensive array of compliance supervision services, as well as back and middle office support to independent advisors, designed to enable them to maximize their focus on client relationships.

In addition, FAN seeks to leverage the broad range of intellectual capital and financial advisory experience available among its members to create a network for sharing ideas, capabilities, best practices and business growth opportunities. FAN expects to expand each member advisory practices financial advisory capabilities in areas such as asset management, investment research, insurance solutions, and retirement planning, while also providing its member practices with support in areas such as training, recruiting and succession planning.

Steve Pirigyi, Executive Vice President of Business Development at LPL Financial, said, We are very pleased to welcome Chris Cox and all the independent advisors in Financial Advocacy Network to LPL Financial. Their objective to nurture a broad range of capabilities among FANs independent advisors, and then share their common intellectual capital, is a forward-thinking innovation on the advisor group business model, and we are pleased to work with them to help facilitate their vision. We are proud they have recognized that LPL Financials combination of flexibility, support and regulatory expertise can help enable the group to move forward. Were excited to serve as their partner for enabling growth and success for the future.

FANs member advisory practices serve a range of clients across the country, including mass-affluent and high net worth individuals and institutions. Its member independent advisor practices include The Monitor Group, of Rockville, MD, of which Mr. Cox is also a principal financial advisor; Wenger Financial Services, of Newport News, VA; Legacy Wealth Management, of Mt. Pleasant, SC; and Newcorp Wealth Strategies, of Atlanta, GA. All four affiliated practices conduct their fee-based advisory business through FANs registered investment advisory (RIA) firm, Maryland Financial Group, Inc.

Mr. Cox, co-founder of FAN and Managing Principal of The Monitor Group, said, I am very excited by our launch of Financial Advocacy Network, which will enable each of our members to operate as independent advisors while maximizing their capabilities to grow, succeed and learn from one another. As an industry leader in the independent advisor space we feel LPL Financial understands the independent advisor business model like no other partner or potential partner we encountered, and they have been extremely supportive of our vision for our member practices, our network and the independent financial advice industrys future.

About Financial Advocacy Network
Financial Advocacy Network (FAN) is a community of entrepreneurial, independent advisors brought together by the desire to achieve exceptional practice management, access high quality resources and engage in a culture of shared knowledge and experience to enhance individual practices and the overall success and value of their businesses. Based [in the Washington, DC, region/Rockville, MD], FAN currently includes The Monitor Group, of Rockville, MD; Wenger Financial Services, of Newport News, VA; Legacy Wealth Management, of Mt. Pleasant, SC; and Newcorp Wealth Strategies, of Atlanta, GA. FAN members conduct their fee-based advisory business through Maryland Financial Group (MFG), an RIA owned by FAN. FAN was founded by Christopher Lee Cox, a financial advisor since 1997; his wife, Amy Fernicola Williard; and Marty Sullens. In total, FAN has approximately $450 million of assets, as of April 15, 2014.

About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), is     the nation's largest independent broker/dealer (based on total revenues, Financial Planning magazine, June 1996-2014), an RIA custodian, and an independent consultant to retirement plans. LPL Financial offers proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 13,700 financial advisors and approximately 720 financial institutions. In addition, LPL Financial supports approximately 4,500 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have more than 3,000 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit http://www.lpl.com.

Securities and advisory services offered through LPL Financial. A registered investment
advisor, member FINRA/SIPC.

Advisory services also offered through the Maryland Financial Group Inc. The Maryland Financial Group and the Financial Advocacy Group Members are separate entities from LPL Financial.

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