LPL Financial has announced that 360 Financial has joined the LPL Financial RIA custodial and broker-dealer platforms.
Led by its founder and president, veteran financial advisor Mike Rogers, 360 Financial features a total of four financial advisors as well as additional professional support staff.
As of December 1, 2013, 360 Financial advisors supported brokerage and fee-based assets for private wealth management clients totaling approximately US$150 million and, as of December 31, 2013, retirement planning assets of US$120 million.
Based in Minnetonka, MN, 360 Financial provides a comprehensive offering of investment management and financial planning services, primarily on a fee basis, for retail clients and for qualified and non-qualified employer-sponsored retirement plans.
Its private client wealth management business serves a mass-affluent to high-net-worth retail investor base, largely in the Minnesota region, with a particular focus on baby-boomer-generation business owners and professionals. Its retirement planning services, for defined-benefit and defined-contribution plans, targets mainly small to mid-size businesses and large professional services firms.
Mr. Rogers and the firm’s three other financial advisors have been frequent recipients of prestigious industry awards. Mr. Rogers received the Five Star Wealth Manager Award six times, for 2008 and for each year from 2010 – 2014.
Dan Mahoney received the award three times, for 2012 – 2014, and each of Jeff Thompson and Tom Whitnah received it for 2013 and 2014. In addition, the firm was named to the NABCAP Premier Advisors list by the National Association of Board Certified Advisory Practices for 2011, 2012 and 2013.
Bill Morrissey, executive vice president of Business Development at LPL Financial, said: "We are happy to welcome 360 Financial to LPL. We are pleased that our extensive product offering and capabilities continue to attract top quality advisors seeking to give their clients the very best in wealth management and financial planning services. We are also gratified that 360 Financial recognizes that the LPL brand, with our broad array of products and practice management support services, will enable their growing firm to attract new independent advisors to join their independent RIA advisor group. Our ability to assist such entities to grow and thrive is an important component of the total LPL service offering."
Rogers said: "360 Financial is dedicated to providing our clients with a ‘big picture’ financial plan that puts them at the center of the planning process and enhances their ability to lead their lives with a strong sense of purpose. Affiliating with LPL will help us provide them with the unbiased financial advice and the 360-degree service that will help them to pursue their long-term financial goals.
"Additionally, LPL will be a cornerstone for us as we build 360 Financial into a full-service, turnkey OSJ, back and middle office services provider for independent financial advisors seeking to establish or grow their own practices within the greater Minneapolis area under the umbrella of the established 360 Financial brand. As part of our complete support services, including quality office and conference space, administrative and marketing support, and compliance reporting, the outstanding resources provided by LPL will play a vital role in complementing our capabilities. We view LPL as a leading partner in our future success."