Cetera Financial Adviser Teams Join LPL, Bringing $350 Million in Combined Assets
This summer, several financial adviser teams joined LPL Financial’s broker-dealer, registered investment adviser, and custodial platforms from Cetera. Together, SoundWay Financial of North Haven, Conn., and Englert Financial of Springfield, Va., reported serving $350 million in assets.
First, SoundWay Financial aligned with existing LPL firm Balmville Wealth Group and reported serving $180 million in advisory, brokerage, and retirement plan assets.
Nestled a few miles from the Long Island Sound, SoundWay is led by senior advisers Richard Belanger; Hons Yu, CFP; and Michael Belanger. Rich Belanger served as a Korean linguist in the U.S. Army for 10 years before launching his wealth management practice. Yu received his economics and finance degree from the University of Connecticut and a Certificate in Financial Planning from Bryant University, and Michael Belanger joined the SoundWay team with over 20 years of client service and management experience. They are supported by Nicara Enright-Alves, longtime operations manager and adviser, and team members Luke DeRose, Thomas Wissenbach, and Anthony Persampieri.
Earlier this summer, George Englert, Kevin Englert, and Carrie Hughes joined LPL from Avantax, now owned by Cetera, and reported serving approximately $170 million in advisory, brokerage, and retirement plan assets.
Englert Financial is a family-oriented firm founded by George Englert, an industry veteran who has worked closely with various government agencies, including the Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation. His son Kevin Englert joined the team in 2011 after an initial career as an auditor in public accounting and the private industry. Hughes joined the firm in 2016, bringing a diverse background in wealth management, accounting, insurance, business analysis, and project management.
“We believe our clients deserve the highest level of service, which is why we take a team approach to add a broader perspective to all we do. Our goal is to provide a variety of comprehensive financial planning services and investment strategies with the understanding that each client is unique and deserves personalized attention and tailored services,” George Englert said.
The SoundWay group also said they turned to LPL and [Balmville Wealth Group] to elevate their practice and work more cohesively as a team.
“At SoundWay Financial, we offer holistic planning for a wide range of investment needs, whether that means helping a client with a retirement strategy or providing financial advice for unexpected life events,” Rich Belanger said. “We’ve found that clients benefit from a collaborative approach, and we believe LPL puts us in a better position to work in a team environment where we have more control of our practice.”
The SoundWay team said they will benefit from localized support, connections, and an additional layer of resources from Balmville Wealth Group, also known as BWG.
“I have known Rich from the day he came through training after joining the industry. From day one, he has always been one of the most hard-working, diligent, organized and professional advisers I have ever come across in my career,” said Michael Vela, BWG founder and chairman. “We are excited to have Rich, Hons, Michael and the SoundWay team join the BWG family and look forward to helping them take their careers to the next level.”
Englert’s Hughes said they chose LPL in part for its technology and innovative resources. “With LPL’s integrated capabilities, our team will be able to save time and truly focus on what’s most important, which is personalized investment planning and building wealth for our clients,” said Hughes.
Scott Posner, LPL executive vice president of business development, expressed his excitement around supporting the onboarded teams.
“LPL is committed to delivering independent solutions designed to meet the needs of advisers wherever they are in the evolution of their practice. Our integrated capabilities and strategic business resources allow them to offer seamless and personalized experiences to create more value for clients and win in their market,” Posner said.
In addition to SoundWay and Englert, former Cetera financial advisers Lance Dumas, AIF, ChFC, and Darryl Carter, CPA, joined LPL’s platforms as Cornerstone Financial Advisers last May.
LPL Financial Holdings Inc. serves nearly 23,000 financial advisers, including advisers at more than 1,000 enterprises and 580 registered investment adviser firms nationwide. Headquartered in San Diego, its total advisory and brokerage assets totaled more than $1.5 trillion as of June 30, 2024.
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