LPL Financial Welcomes Hendrix Group Financial Services

CHARLOTTE, N.C., Sept. 29, 2020 (GLOBE NEWSWIRE) --  (Nasdaq:LPLA), a leading retail investment advisory firm, independent broker-dealer and registered investment advisor (RIA) custodian, today announced that Hendrix Group Financial Services has joined LPL Financial’s broker-dealer and corporate RIA platforms, which leverage LPL as custodian. The advisors reported having served approximately $180 million in advisory and brokerage assets*. They join LPL from Securities Service Network, part of the Advisor Group network of broker-dealers.

After 50 years as the Financial Service Center of Alabama, the Birmingham-based practice rebranded as Hendrix Group Financial Services in 2017. A true family business, the team comprises of brothers Tim Hendrix and Brad Hendrix, Sr., and Brad's son, Brad Hendrix, Jr. All three are partners in the firm and financial advisors. They are joined by Brad Sr.'s daughter, office manager Lindsey Burns, and Tim and Brad Sr.'s sister, administrative assistant Sandra Bailey.

“We are a faith-based practice and we believe that as Christians, we are called to help people. Our goal is for our clients to walk out feeling better than when they came in,” said Brad Hendrix Sr., a former NFL offensive lineman who played in Dallas and San Diego prior to launching his career as a financial advisor.

After their former broker-dealer was sold, the Hendrix team began to research options for a new partner. “We have not changed broker-dealers in 32 years, and we hope to never change again. With LPL, we have found a partner with stability that can help us take the business to the next level,” said Brad Hendrix Sr. “The integrated technology in ClientWorks will really enhance our ability to serve clients with excellence. We love that we can pull client reports, make trades and open new accounts, all within the same application without having to go in and out of windows.”

Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, said, “We welcome the Hendrix team to the LPL family and are proud to serve as their new partner. This family-run business has developed many enduring relationships over the years. We understand how the value of those personal connections contributes to the overall strength of their firm. At LPL, we are committed to providing them with a differentiated set of capabilities and service experience so they can run an efficient and productive business, by having time back into their day to be able to focus on their client relationships. We look forward to a long-lasting partnership with Hendrix Group Financial Services.”

Read about other firms that recently joined LPL in the of LPL.com.

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About LPL Financial

LPL Financial () is a leader in the retail financial advice market and the nation’s largest independent broker-dealer**. We serve independent financial advisors, professionals, and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.

Securities and Advisory services offered through LPL Financial, a registered investment advisor. Member FINRA / SIPC.

Hendrix Group Financial Services and LPL Financial are separate entities.

*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.

**Based on total revenues, Financial Planning magazine June 1996-2020

Throughout this communication, the terms “financial advisors” and “advisors” include registered representatives and/or investment adviser representatives affiliated with LPL Financial LLC, an SEC registered broker-dealer and investment adviser.

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