GlobeNewswire Inc | Mar 29, 2021 08:40AM EDT

March 29, 2021

CHARLOTTE, N.C., March 29, 2021 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq:LPLA)today announced that financial advisors Steven Allison, Jonathan David Cummings and Raymond Empkey have joined LPL Financials broker-dealer, corporate registered investment advisor (RIA) and custodial platforms, aligned with JFC Financial Services, a large enterprise that recently joined LPL. The advisors reported having served approximately $215 million in advisory, brokerage and retirement plan assets*. They join LPL from Securities America, part of the Advisor Group network of broker-dealers.

Based in Hurst, Texas, Allison and Cummings specialize in employee stock ownership plans and 401(k) retirement plans. We work with business owners around the country to help them transition into retirement, said Allison, who teamed up with Cummings in 2010 after working as colleagues since 2002. Empkey, their longtime acquaintance, is planning to join the group this year. Currently in Bedford, Texas, Empkey has been in the industry since 1994 and focuses on retirement income and wealth transfer.

The advisors turned to LPL and JFC seeking an enhanced client experience, to create office efficiencies and to take advantage of LPLs self-clearing capabilities. Cummings stated, LPLs technology is incredibly user-friendly, not just for advisors but for our clients as well. Were able to seamlessly move from one tool to another within the same integrated platform. Also, as a publically traded company, LPL also offers stability as a long-term partner. We are excited about this next chapter in our business. Empkey added, We also appreciate the added benefit of JFCs partnership, enhanced service experiences and network of other like-minded advisors.

Scott Posner, LPL executive vice president, Business Development, said, We welcome Steve, David and Ray to LPL and congratulate JFC on its continued growth. Our entire focus is to support our advisors and make it easier for them to provided trusted financial guidance for their clients. We do this by creating differentiated experiences and investing in capabilities and business solutions designed to help advisors thrive. We look forward to connecting this team to the resources and technology that can help them reach their goals and make a difference in their clients lives.

Read about other firms that recently joined LPL in the LPL Financial News and Media section of LPL.com.

Advisors, find anLPL business development representativenear you.

About LPL Financial: LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader** in the markets we serve, supporting more than 17,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to objective guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.

** Top RIA custodian (Cerulli Associates, 2019 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S (Based on total revenues, Financial Planning magazine June 1996-2020); No. 1 provider of third-party brokerage services to banks and credit unions (2019-2020 Kehrer Bielan Research & Consulting Annual TPM Report)

*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.

Securities and advisory services offered through LPL Financial LLC, an SEC- registered broker-dealer and investment advisor.Member FINRA/SIPC.

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 LLC.We routinely disclose information that may be important to shareholders in the Investor Relations or Press Releases section of our website.

JFC Financial and LPL Financial are separate entities.

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Media Contact:Lauren Hoyt-Williams(980) 321-1232Lauren.Hoyt-Williams@lpl.com