Broker Check

LPL FINANCIAL ACQUISITION

Will this change cost me any money?

  • In short, no. Your current fee structure will transfer. The acquisition is tentatively going to take place May 1, 2021 with accounts transferring around mid-July. I will be working with a team of specialists to work towards making this as seamless as possible for my clients.

Will I have to change my investment portfolio?

  • No, your investment allocations can remain the same.
  • As I work through researching available options, I may make recommendations (as I do now), if I see opportunities within your allocations.

Will I be required to sign paperwork?

  • The majority of accounts under my management will not require any signatures. There are some accounts that will require signatures. I will continue to work through details on this and be in touch as the transition gets closer.

Will I still have access to my wealth management portal at LPL?

  • I will still be using the same financial planning software and clients will still have access to personal wealth management portals. I am hopeful that the content within your portals will transfer seamlessly.

Will your contact information change?

  • The office address and phone number will remain the same. My Waddell & Reed email address will remain active through the end of the year; I will contact you with updated email information far in advance of any changes.

Will the transition from Waddell & Reed to LPL Financial have any negative impact?

  • As I mentioned earlier, there are a percentage of accounts that may require signatures resulting in possible inconvenience. I will do everything I can to simplify this as much as possible. Other than that, I don't believe there should be any negative impact to you. I have been, and will continue to be, your financial advisor.

What are the positives to come out of this transition?

  • The new technology platform is a significant improvement over the platform I am using now with enhanced capabilities such as “same-day” redemptions into your bank account (wow!).
  • I will have access to a wider variety of operations support, infrastructure, and compliance oversight services, allowing me to offer you a greater level of service than before.
  • LPL Financial encompasses a larger network of financial advisors, giving my team and myself the opportunity to learn from more of our peers and improve my business – which could mean a better experience for you!



(06/21)