LPL Financial Welcomes First Summit Capital Management
27 June 2024 - 11:00PM
LPL Financial LLC announced today that the advisors of First Summit
Capital Management have joined LPL Financial’s broker-dealer, RIA
and custodial platforms, aligning with Momentum Wealth
Partners, an existing firm supporting LPL-affiliated advisors. The
First Summit advisors reported having served approximately $380
million in advisory, brokerage and retirement plan assets* and join
LPL from PNC Investments.
First Summit Capital Management in Wilmington, Del., is led by
principal owner and Managing Partner Thomas J. Cooney, a seasoned
financial services veteran with 32 years of industry experience. He
previously owned a successful company in the forest products
industry, where he honed his business acumen and strategic
thinking. Cooney is joined by Managing Partner Mark Freed, CFP©,
CRC©, a former professional pitcher for the Chicago Cubs and
Arizona Diamondbacks, who has more than a decade of experience in
wealth management. They are supported by Director of Operations
Vicki Pearce.
The team provides personalized investment strategies and
comprehensive financial planning services, including retirement
planning, wealth management and estate planning. “Our mission is to
empower clients to navigate their financial journey with clarity
and confidence. We believe in building meaningful relationships
based on trust, integrity and transparency, providing
straightforward and honest guidance to help clients make informed
decisions with sense of assurance,” Cooney said.
Looking for more freedom and flexibility in how they operate,
the First Summit team turned to LPL and Momentum for the next
chapter of their business.
“We are excited to join LPL Financial to gain access to their
robust capabilities, open architecture platform and streamlined
business solutions that enable us to offer more personalized
services and a broader range of investment options,” Freed said.
“We now have the independence to serve clients as we see fit and
put their best interests first. We’re confident this move will help
us expand the relationships we have with clients and create more
opportunities for the families we work with.”
Momentum Wealth Partners Managing Partner and Co-Founder Doug
Frank, said, “At Momentum, we cultivate a success-driven mindset,
encouraging advisors to improve their practices and commit to
outstanding client service. The First Summit Capital team truly
represents this philosophy. Thomas, Mark and Vicki, we are
delighted to welcome you to Momentum and LPL.”
Scott Posner, LPL Executive Vice President, Business
Development, said, “We welcome Tom, Mark and Vicki to the LPL
community and congratulate Momentum Wealth Partners on its
continued growth. As the industry continues to evolve, more
advisors are looking for a partner that provides flexibility and
customization to create differentiated experiences for their
clients. At LPL, we understand that and are committed to providing
advisors with sophisticated resources and curated choices to create
their ideal practice.”
Related
Advisors, find your perfect fit at LPL.
About LPL FinancialLPL Financial Holdings Inc.
(Nasdaq: LPLA) was founded on the principle that LPL should work
for advisors and institutions, and not the other way around. Today,
LPL is a leader in the markets we serve, serving nearly 23,000
financial advisors, including advisors at approximately 1,100
institutions and at approximately 570 registered investment advisor
("RIA") firms nationwide. We are steadfast in our commitment to the
advisor-mediated model and the belief that Americans deserve access
to personalized guidance from a financial professional. At LPL,
independence means that advisors and institution leaders have the
freedom they deserve to choose the business model, services and
technology resources that allow them to run a thriving business.
They have the flexibility to do business their way. And they have
the freedom to manage their client relationships, because they know
their clients best. Simply put, we take care of our advisors and
institutions, so they can take care of their clients.
Securities and Advisory services offered through LPL Financial
LLC ("LPL Financial"), a registered investment advisor. Member
FINRA/SIPC. LPL Financial and its affiliated companies provide
financial services only from the United States. First Summit
Capital Management, Momentum Wealth Partners 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.
We routinely disclose information that may be important to
shareholders in the "Investor Relations" or "Press Releases"
section of our website.
*Value approximated based on asset and holding details provided
to LPL from end of year, 2023.
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