LPL Financial, JFC Advisor Network Welcome River Cities Financial Services

CHARLOTTE, N.C., Nov. 03, 2021 (GLOBE NEWSWIRE) --  (Nasdaq:LPLA) announced today that River Cities Financial Services has joined LPL Financial’s broker-dealer, corporate registered investment advisor (RIA) and custodial platforms, aligning with large enterprise JFC Advisor Network. The advisors reported having served approximately $350 million in advisory, brokerage and retirement plan assets*. They join LPL from Cetera Financial Group.   

With registered offices in Marietta, Beverly and Chillicothe, Ohio, River Cities has a rich history in the community, starting as an insurance agency in 1948 before expanding into wealth management in 1985. Manager and Owner Michael Anthony is joined by founders Leslie Futrell and Rick Walters, as well as fellow financial advisors Stacey Brooks and Keith Thieman. They are assisted by a long-tenured four-member office support staff.

“We are a community-oriented team and proud to serve the many small business owners, retirees and farmers in our towns. We view our clients as an extension of our own families, and we want what’s best for them,” Anthony said. “We take a team approach to providing solutions for every stage of life, with services spanning from comprehensive financial planning to employee retirement plan strategies.”

What helps set River Cities apart is that its five advisors each represent a different decade, ranging in age from mid-30s to early 70s. “We all bring unique experiences and differing views to the team to help ensure our clients’ financial needs will be taken care of now and for generations to come,” Anthony said.

Looking for a new partner, the team turned to LPL for the next chapter of their business. “This move gives us the flexibility to continue to build the practice on our own terms, putting our clients’ interests at the center of everything we do. With LPL, we have the stability of a publicly-traded company along with innovative, integrated technology that’s in a simple format, allowing us to spend more time with clients. There is nothing more rewarding than being able to sit down face-to-face with clients and help them work toward their financial dreams.”

Jack Connealy, founder of JFC Advisor Network, stated, “We are honored to welcome River Cities Financial Services to JFC Advisor Network. They have built an extraordinary practice, and their dedication to elevating their business is evidenced in their decision to move to LPL and affiliate with JFC. In doing so, they position themselves to further their growth and success. They benefit not only from the technology, tools and platforms of the largest independent broker dealer in the nation, but at the same time gain a tight-knit community of advisors and have the support and advocacy of our extensive group of industry experts at JFC. We look forward to supporting Mike, Stacey, Keith, Les, Rickie, and the entire River Cities team.”

Scott Posner, LPL executive vice president, Business Development, stated, “We welcome Mike, Les, Rick, Stacey and Keith to the LPL community and are proud that our independent platform served as a differentiator for the River Cities team. As a partner with scale, our commitment to service and ongoing investments in our advisors’ businesses is unwavering. We will continue to deliver innovative capabilities and robust business solutions designed to help advisors build their perfect practice and bring added value to their clients. We congratulate JFC on its continued growth and look forward to a long-lasting relationship with both JFC and River Cities Financial Services.”

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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 19,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to objective 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.

** Top RIA custodian (Cerulli Associates, 2019 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S (Based on total revenues, Financial Planning magazine 1996-2021); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 as of June 2021

*Based on prior business and represents assets that would have been custodied at LPL Financial, rather than third-party custodians. Reported assets and client numbers have not been independently and fully verified by LPL Financial.

Securities and advisory services offered through LPL Financial LLC, an SEC- registered broker-dealer and investment advisor. Member FINRA/ SIPC

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. We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

River Cities Financial Services, JFC Advisor Network and LPL Financial are separate entities.

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