Harbor Lighthouse Wealth Management Joins LPL Financial, Financial Resources Group
CHARLOTTE, N.C., Dec. 13, 2022 (GLOBE NEWSWIRE) -- announced today that financial advisors David Rimkus, Donald Sharko and Thomas Phelan have joined LPL Financial’s broker-dealer, RIA and custodial platforms, aligned with Financial Resources Group Investment Services. They reported having served approximately $285 million in advisory, brokerage and retirement plan assets*, and join LPL from LaSalle St. Securities.
Based in Orland Park, Ill., Rimkus launched the practice in 1997 after spending 10 years in banking. The business has grown over time, shifting from a transactional brokerage firm to a comprehensive wealth management firm that serves multigenerational clients. All three advisors grew up in Chicago and have a rich understanding and knowledge of the community. Rounding out the team are Operations Manager Emily Malfeo, who is Rimkus’ daughter, along with Client Services Associate Debra Lapaglia.
Looking to be more proactive in how they communicate with clients and plan for the future of their business, the team turned to LPL and Financial Resources Group.
“We appreciate the variety of innovative resources available to help us more effectively and frequently communicate with clients. We look forward to building out our website and having a social media presence, in addition to more regular touchpoints with clients throughout the year,” Rimkus said. “We also enjoy the integrated tools created by LPL that will free up our time, allowing us to more efficiently manage our clients’ needs and goals. We look forward to working closely with Financial Resources Group, which offers an additional layer of support and more localized resources.”
New brand: Harbor Lighthouse Wealth Management
With the move to LPL and Financial Resources Group, the team underwent an extensive rebrand that includes a new name, Harbor Lighthouse Wealth Management, and an overhaul of their office. “We’re excited to come out with a fresh image to soften the mood and reflect our vision to be a more inclusive, family-style office to serve our clients’ comprehensive financial needs,” Rimkus said, noting their former brand was tied to the LaSalle name. “This change reinvigorates us and motivates us, and we believe it will add value to practice and what we can deliver to our clients.”
With nearly 22,000 financial advisors across the nation, LPL also offers robust solutions to support for the team’s succession plan. “We felt more comfortable with the strength of LPL and its large presence in Illinois,” Rimkus said. “We know we’ll be able to bring other advisors into our firm to ensure business continuity. We are committed to fostering relationships with our clients’ children and grandchildren as they build generational wealth.”
“We are thrilled to partner with Harbor Lighthouse Wealth Management, truly a wonderful team dedicated to providing top-notch service to their clients,” said Steve Lank, President of Financial Resources Group. “Sharing similar values with our clients being at the core of everything we do, we look forward to helping them take their business to the next level with our expansive tools and resource offerings.”
Scott Posner, LPL Executive Vice President, Business Development, added, “We welcome David, Donald and Thomas to LPL and congratulate the entire team on the launch of the new brand. It is an exciting time for Harbor Lighthouse Wealth Management as they take steps to build their perfect practice and prepare for the future. The team saw a need to continuously evolve in order to meet the growing needs of clients, and we are proud they recognized the value that LPL provides to help advisors adapt and thrive. Our firm is committed to investing in our advisors’ business today and for the long run, and we look forward to supporting both Harbor Lighthouse and Financial Resources Group for many years.”
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About LPL Financial
LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader in the markets we serve**, supporting more than 21,000 financial advisors, including advisors at approximately 1,100 institution-based investment programs and at approximately 500 registered investment advisor ("RIA") firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.
*Value approximated based on asset and holding details provided to LPL from year-end 2021.
**Top RIA custodian (Cerulli Associates, 2020 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S. (Based on total revenues, Financial Planning magazine 1996-2022); among third-party providers of brokerage services to banks and credit unions, No. 1 in AUM Growth from Financial Institutions; No. 1 in Market Share of AUM from Financial Institutions; No. 1 in Market Share of Revenue from Financial Institutions; No. 1 on Financial Institution Market Share; No. 1 on Share of Advisors. (2021-2022 Kehrer Bielan Research & Consulting Annual TPM Report). Fortune 500 as of June 2021.
LPL and its affiliated companies provide financial services only from the United States.
Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC. Financial Resources Group, Harbor Lighthouse Wealth Management 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 LLC.
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