CHARLOTTE, NC, July 20, 2021 (GLOBE NEWSWIRE) – LPL Financial LLC today announced that financial advisors Steven Bailin, CFPÂ®, Jodie Cohen CFPÂ®, CRPSÂ®, and Jeffrey Prince CFPÂ®, founded a new independent practice, PBC Private Wealth, as part of LPL Financial’s Strategic Wealth Management (SWS) model, designed to meet the unique needs of independent advisors. Advisors said they have served approximately $ 700 million in advisory, brokerage and pension assets *. They join LPL from Morgan Stanley.
Based in Los Angeles, with another headquarters in Las Vegas, Bailin, Cohen and Prince are longtime colleagues who partnered a decade ago to provide personalized advice and planning-focused investment strategies to wealthy individuals, multigenerational families and small business owners. Together, they help clients with investing and wealth management, budgeting, education savings, retirement planning, and wealth transfer planning, among other services.
PBC, which happens to be the combined initials of advisers’ last names, also stands for Principled, Balanced and Committed. âWe feel like we are making a difference in the lives of our clients and their families; it is much more than simple asset management. Our goal is to provide exceptional service while helping to put our clients’ financial lives in order, simplify complex issues and help them achieve their financial aspirations, âsaid Prince. âGoing above makes us want to wake up every morning and continue to help our customers. “
Seeking to take control of their business and integrate more financial planning services into their business, the team chose to join LPL as a partner to launch their new independent business. Advisors said LPL allows them to run their business at their own pace, without outside influence. âWe are excited to launch PBC so our clients can do business the way they want,â Cohen said. âWe are passionate about incorporating our clients’ values ââand goals into their financial plan. With balanced portfolios and financial choices, we are committed to serving our clients and continuing their legacy. “
PBC Video: Our Story
Bailin added, âThe decision to launch PBC Private Wealth was a call to action; this is what our customers ask for. LPL’s integrated digital platform gives us more flexibility and an open architecture where we can offer a suite of innovative solutions, financial planning and digital tools to truly help our clients better understand their financial situation.
LPL Strategic Wealth Service a “differentiator”
Advisors said it was the combination of LPL’s innovative technology with the sophisticated level of support provided by LPL Strategic Wealth Services that reinforced their decision to take the step. âThe SWS model is a real differentiator,â Prince said. âThis gives us dedicated transition support before we even join us to help us with everything from finding real estate to developing our brand and marketing tactics. But just as important, we have the ongoing support of business consultants who help us with day-to-day operations and long-term strategies so that we can focus on our clients. We love to have this great support structure behind us so that we never feel alone. “
Advisors also added that they appreciate LPL’s integrated platform which combines both broker and RIA models. âLPL provides us with all the resources and business support necessary to continue to provide a high level of service and personalization to our customers, with the added benefit of being independent,â said Prince.
Scott Posner, LPL Executive Vice President, Business Development, said: â; Their commitment and dedication resonated in every aspect of establishing their new practice. At LPL, we believe advisors should be able to serve their clients however they see fit. We are deeply committed to innovation and meeting them where they are in the evolution of their business to help them differentiate the customer experience and create successful practices. We warmly welcome the entire PBC Private Wealth team to the LPL family and look forward to maintaining a lasting relationship with them.
Learn more about PBC Private Wealth. Find out about other companies that have recently joined LPL in the LPL Financial News and Media section of LPL.com.
Consultants, find an LPL business development representative near you.
About LPL FinanciÃ¨re:
LPL Financial (Nasdaq: LPLA) was founded on the premise that the business should work for the adviser, not the other way around. Today, LPL is a leader ** in the markets we serve, supporting more than 17,000 financial advisors, 800 institutional investment programs and 450 independent RIA companies across the country. We are unwavering in our commitment to the advisor-centric model and our belief that Americans deserve access to objective advice from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services and technological resources that allow them to perfectly manage their practice. And they have the freedom to manage their customer relationships because they know their customers better. Simply put, we take care of our advisors so that they can take care of their clients.
* Based on past business and represents assets that would have been held by LPL Financial, rather than third party custodians. Reported assets and customer numbers have not been fully and independently verified by LPL Financial.
** Principal custodian of AIR (Cerulli Associates, 2019 US RIA Marketplace Report); # 1 independent brokers in the United States (based on total revenues, Financial Planning magazine June 1996-2020); 1st provider of brokerage services on behalf of third parties to banks and credit unions (Annual Report TPM 2020-2021 Kehrer Bielan Research & Consulting); Fortune 500 in June 2021
Securities and advisory services offered by LPL Financial LLC, an SEC registered brokerage and investment advisor. FINRA / SIPC member.
Throughout this communication, the terms âfinancial advisersâ and âadvisersâ are used to refer to the registered representatives and / or representatives of the investment advisers affiliated with LPL Financial LLC. We regularly disclose information that may be important to shareholders in the âInvestor Relationsâ or âPress Releasesâ section of our website.
PBC Private Wealth and LPL Financial are separate entities.
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