LPL Financial Welcomes Somnio Wealth
10 April 2024 - 11:00PM
LPL Financial LLC announced today that financial advisors Greg
Mullaney, CFP®, Colleen Kelly Abate, CFP® and Peter Pagano have
joined LPL Financial’s broker-dealer, RIA and custodial platforms.
They reported serving approximately $300 million in advisory,
brokerage and retirement plan assets*, and join LPL from Ameriprise
Financial.
With the move they launch Somnio Wealth, an independent
financial practice based in Louisville, Ky. The name of the firm –
a nod to the Latin word “to dream” – paired with the company colors
of red, white and blue, highlights the team’s desire to help their
clients achieve the “American Dream” for themselves and the ones
they love and care for. Mullaney says helping clients realize their
financial goals starts with meeting their clients where they are
and guiding them every step of the way.
“We always say that an educated client is the best kind of
client, so providing a financial education is at the center of
everything we do,” Mullaney said. “Our industry has a lot of
confusing jargon, so we try to educate our clients in a way that
they can relate. Additionally, if something doesn’t make sense, we
encourage our clients to interject and make us explain it to them
until they understand so they can take an active role in their
financial planning process.”
Looking to pair their client-centered philosophy with their
desire to move to independence, the Somnio Wealth team interviewed
several firms before selecting LPL as the best fit for their
business.
“We knew we needed a partner to help us take our client
experience – and our business – to the next level, and that’s
exactly what we found with LPL,” said Mullaney. “From LPL’s
integrated technology and business solutions to their back-office
support, everything they offer will help us provide the kind of
elevated experience we want for our clients – something we could
never get from a franchise model. In addition, as we look to expand
our footprint, LPL’s M&A Solutions will help us attract other
advisors and grow our business our way.”
Scott Posner, LPL Executive Vice President, Business
Development, stated, “We welcome Greg, Peter, Colleen and the rest
of the team to the LPL community and are honored to support the
launch of Somnio Wealth. At LPL, we are committed to helping
advisors visualize and develop their perfect practice by offering
streamlined and integrated business solutions and personalized
support to help them create an elevated experience for their
clients. We look forward to supporting this team for years to
come.”
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 more than 22,000
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. Somnio Wealth 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 mid-2023.
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