SAN DIEGO, May 07, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Logan Reed, CFP®, CEPA®, CIMA®, CLU®, AIF®, James “Jim” English III, Michael Allegra Jr., CRPC, and Matthew Fleming, CFP®, have launched a new independent practice, Thimble Island Private Wealth, through affiliation with LPL Financial’s supported independence model, LPL Strategic Wealth Services. The team reported having served approximately $830 million in advisory, brokerage and retirement plan assets* while at Janney Montgomery Scott.
Based in New Haven, Conn., the quartet of experienced advisors share a commitment to providing personalized, concierge-level service to their clients. The 2024 Forbes Best-In-State Wealth Management Team takes a collective approach to help ensure that each client receives hands-on attention for their unique financial needs.
“We are relentless in our focus to help clients work toward their financial aspirations,” said English. “We believe success is measured not only in market returns, but by being with clients throughout each important milestone. We’ve been helping people plan for their future and manage their finances for so many years that we’re now serving fourth and fifth generations at our boutique practice.”
The team’s passion for service and desire to elevate their client-centric practice led them to LPL for the next chapter of their journey.
“We are thrilled to join LPL Financial and gain access to the firm’s best-in-class resources for today and in the future,” said Reed, a Forbes 2023 and 2024 Best-in-State Wealth Advisor. “LPL’s open architecture platform, robust resources and dedication to independence are in perfect harmony with our values and goals. We believe this move will allow us to provide an even more comprehensive and personalized financial planning experience for our clients.”
The team chose to affiliate via LPL’s comprehensive supported independence solution, LPL Strategic Wealth Services (SW), which combines the freedom and flexibility of entrepreneurship with hands-on business services and support to help practices thrive, both operationally and strategically. In addition to having access to LPL’s innovative wealth management platform and sophisticated resources, SW advisors benefit from a truly integrated service that includes simplified pricing, technology and dedicated support to launch their practice. Then, after the transition is complete, SW teams receive ongoing operations support managed by their team of experienced professionals including a business strategist, marketing partner, CFO and administrative assistant. Advisors have one point of contact, a dedicated team and priority access to advocacy and project management for complex business issues, ultimately allowing them to stay focused on the enduring needs of their clients and the culture and evolution of their practice.
“As entrepreneurs, we want to focus on client relationships and adding value,” Fleming said. “LPL gives us dedicated resources and sophisticated capabilities behind the scenes to allow us to run the business as we see fit while also ensuring clients are getting the best care.”
With the move to LPL, they chose to rebrand the firm to Thimble Island Private Wealth. “This is a nod to the chain of islands off the coast of Branford, which holds historical significance locally and on a national level,” Allegra said. “It’s a beautiful spot that’s also very complex, which is symbolic of our business and how we help clients navigate through complex financial landscapes.”
Scott Posner, LPL Executive Vice President, Business Development, said, “We extend a warm welcome to Logan, Jim, Mike and Matt and congratulate them on going independent with LPL Strategic Wealth Services. We appreciate their steadfast commitment to putting clients’ needs first as they build out their ideal practice, and we will be with them each step of the way as we deliver personalized resources, innovative business tools and a sophisticated wealth management platform designed to help advisors thrive. We look forward to supporting Thimble Island Private Wealth for years to come.”
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About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that LPL should work for advisors and institutions, and not the other way around. Today, LPL is a leader in the markets we serve, serving nearly 23,000 financial advisors, including advisors at approximately 1,100 institutions and at approximately 570 registered investment advisor ("RIA") firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and institution leaders have the freedom they deserve to choose the business model, services and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors and institutions, so they can take care of their clients.
Securities and Advisory services offered through LPL Financial LLC ("LPL Financial"), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States. Thimble Island Private Wealth and LPL Financial are separate entities.
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.
We routinely disclose information that may be important to shareholders in the "Investor Relations" or "Press Releases" section of our website.
*Value approximated based on asset and holding details provided to LPL from end of year, 2023.
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