SAN DIEGO, May 20, 2015 (GLOBE NEWSWIRE) -- LPL Financial LLC, the nation's largest independent broker-dealer*, a custodian for registered investment advisors (RIAs), and a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq:LPLA), today announced that Shelley Moncrief, Jarrod Lege and Rick Schenck have joined Standard Investment Advisors ("Standard"), an advisory firm that is on LPL's broker-dealer and corporate RIA custodial platforms. Based on prior business, Moncrief and Lege collectively reported servicing $194 million of assets, as of Dec. 31, 2014, and Schenck reported servicing $130 million of assets, as of Dec. 31, 2014**.
The three veteran advisors have moved from the bank-based wealth management environment, following a similar move by Standard founders Merritt Talbot and Margie Benjamin, who left the bank setting for independence in 2014. Standard now operates four offices throughout Louisiana and plans to recruit to additional new offices in Baton Rouge and Shreveport. The firm is focused on attracting advisors and advisory firms that service between $75 to $150 million of assets.
Steve Pirigyi, executive vice president of business development at LPL Financial, said, "We have worked closely with Standard to help set up their new firm, providing assistance with their business planning and presenting a strategy for recruiting additional advisors from across the Gulf Coast. We are excited to see that plan come to life with the addition of these three advisors. We look forward to supporting the Standard team as they continue to grow their business."
Merritt Talbot, president of Standard Investment Advisors, said, "We examined many options when we began this process, but found LPL to have the best reputation, the most comprehensive resources and the largest broker network of all the independent broker-dealers. These advantages help to make Standard a destination of choice for financial advisors throughout Louisiana who are seeking independence."
Moncrief, who has more than 30 years of advisor experience, said, "Joining Standard allows us to be independent as well as gives us the ability to pursue a higher-net-worth clientele. And, through LPL, we will have access to a greater breadth of investment resources and a more robust, modern technology platform."
Standard provides mass affluent and high-net-worth individual clients and their families with holistic financial planning and asset management customized to each client's specific needs and financial goals. Standard also provides business and corporate clients advisory services including compensation, retirement and benefits counsel and insurance and tax planning. In addition, the firm helps financial institutions, including banks and credit unions, to offer wealth management services through relationships with Standard-allied financial advisors.
*Based on total revenues, Financial Planning magazine, June 1996-2014
**Asset numbers were reported by Moncrief, Lege and Schenck based on prior business and have not been independently and fully verified by LPL Financial.
About Standard Investment Advisors
Based in New Orleans, La., with offices in Mandeville, Lafayette and Abbeville, Standard Investment Advisors provides personalized service and objective advice to help its clients make important financial decisions. It provides financial, insurance and tax solutions for individuals and their families, businesses, and corporate clients. With experience in banking and mortgage lending, Standard Investment Advisors is also well-suited to help banks, credit unions and other financial institutions offer investment services. For more information, visit www.standardinvestmentadvisors.com.
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq:LPLA), is a leader in the financial advice market and serves $485 billion in retail assets. The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 independent financial advisors and more than 700 banks and credit unions. LPL Financial is the nation's largest independent broker-dealer since 1996 (based on total revenues, Financial Planning magazine, June 1996-2014), is one of the fastest growing RIA custodians with $105 billion in retail assets served, and acts as an independent consultant to over an estimated 40,000 retirement plans with an estimated $120 billion in retirement plan assets served, as of March 31, 2015. In addition, LPL Financial supports approximately 4,300 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,352 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.
Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC
Connect with Us!
https://www.linkedin.com/company/5294
https://www.facebook.com/LPLFinancialLLC
http://www.youtube.com/user/lplfinancialllc
LPLA-A