SAN DIEGO – Aug. 18, 2015 – LPL Financial LLC, the nation’s largest independent broker-dealer*, a custodian for registered investment advisors (RIAs), and a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today announced that Marzano Capital Group has joined the LPL Financial broker-dealer platform and will provide fee-based advisory services through Independent Advisor Alliance (IAA), an independent RIA group that serves financial advisors in the Carolinas on LPL’s hybrid RIA platform. Marzano Capital Group reported that, as of April 30, 2015, it had managed more than $300 million of client assets**.
Jon Marzano, co-founder and managing partner of Marzano Capital, said, “We are truly excited to join LPL and IAA. With their support and resources, we will have more time to spend with our clients, and by adopting the independent model we can put the needs of our clients first.”
Based in Clemmons, N.C., Marzano Capital Group offers comprehensive financial planning for individuals, business owners and institutions. Founded in 2005 by Jon Marzano and his father, 35-year industry veteran Arthur Marzano, the firm offers wealth management and retirement planning for mass affluent and high-net-worth clients. Its advisors are advocates for a transparent investment process that utilizes a limited number of investment products, augmented by carefully researched individual stock and bond selection. With the addition of Steven Gallo in 2010, the firm added the ability to serve the needs of institutions, particularly nonprofits including foundations and religious organizations. Marzano Capital Group also employs two professional support staff.
Since its founding, Marzano Capital has experienced steady organic growth. The firm intends to move to a new office within the next year to create room for additional independent advisors to serve clients in Clemmons, a suburb of Winston-Salem, N.C., and surrounding communities
Robert Russo, founder and president of IAA, said, “As a well-respected, well-established and rapidly growing family-owned advisory in North Carolina, Marzano Capital fits well into the profile of independent firms supported by IAA. We look forward to providing them with our many customized support services and helping them access LPL’s tools and resources to manage and grow their business.”
Headquartered in Charlotte, N.C., IAA is an independent RIA advisor group that supports more than 50 LPL-affiliated advisors in the Carolinas. IAA has reported that is has recruited more than $700 million of retail assets to the firm since January of this year and has plans to continue to grow as a destination for independent advisors throughout the Southeast. IAA supports independent advisors by offering services to help to increase efficiencies, attract and retain clients and boost revenue by providing the tools and resources that will enable them to further develop their practices.
“We welcome Marzano Capital Group to LPL,” said Steve Pirigyi, executive vice president of business development at LPL Financial. “Robert Russo at IAA is a great champion of the independent model and we’re happy to see his hybrid RIA firm expand with the addition of this talented group. We look forward to supporting them both as they continue to grow their businesses and serve the needs of their clients.”
*Based on total revenues, Financial Planning magazine, June 1996-2015
**Asset numbers were reported by Marzano Capital Group based on prior business and have not been independently and fully verified by LPL Financial.
About Marzano Capital Group
Based in Clemmons, N.C., Marzano Capital Group offers comprehensive financial advice and financial solutions for individuals and business owners, and provides financial planning for institutional clients. Marzano Capital assists clients in formalizing their goals and implementing a plan to help pursue those goals, and then helps drive the process as their clients’ lives and the financial markets evolve. Building upon a predecessor practice launched by Arthur Marzano in 1984, Marzano Capital was co-founded in 2005 by Arthur and his son Jon Marzano. Today, Marzano Capital also includes financial advisor Steven Gallo and two support professionals. For more information, visit MarzanoCapitalGroup.com.
About Independent Advisor Alliance
Based in Charlotte, N.C., Independent Advisor Alliance (IAA) is strategically focused on building a community of successful independent advisors serving the financial and retirement needs of individuals and businesses. Through its hybrid RIA model, IAA provides its affiliated advisors with a broad range of customized support services designed to optimize efficiencies, reduce expenses, attract and retain clients, and boost revenue. Founded in 2007, today IAA serves more than 50 independent LPL financial advisors throughout the Carolinas, servicing a total of more than $1.5 billion of retail client asset, and seeks to grow as a destination for independent advisors throughout the Southeast. In addition to its founder and CEO Robert Russo, IAA employs a full-time staff of 13. For more information, visit www.independentadvisoralliance.com.
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the financial advice market and serves $485 billion in retail assets. The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 independent financial advisors and more than 700 banks and credit unions. LPL Financial is the nation’s largest independent broker-dealer since 1996 (based on total revenues, Financial Planning magazine, June 1996-2015), is one of the fastest growing RIA custodians with $105 billion in retail assets served, and acts as an independent consultant to over an estimated 40,000 retirement plans with an estimated $120 billion in retirement plan assets served, as of March 31, 2015. In addition, LPL Financial supports approximately 4,300 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,352 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.
Securities and advisory services offered through LPL Financial. A registered investment advisor, member FINRA/SIPC.
Investment advice offered through Independent Investment Alliance, a registered investment advisor. Independent Investment Alliance and Marzano Capital separate entities from LPL Financial.
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