Frequently Asked Questions

I’ve dedicated my career to working with clients who value personalized, comprehensive, and professional financial advice. I enjoy and find value in being able to solve a problem for someone and being their “go-to” person. Helping others has given me great personal satisfaction.

1. Are you a fiduciary?

Yes, I am a fiduciary for my advisory clients. I am legally obligated to work in their best interest.

2. Who is LPL Financial?

LPL Financial is a publicly traded fortune 500 company. In fact, they are the biggest independent broker dealer in the U.S. [1] as well as the *3rd largest RIA custodian [2].

LPL Financial has been in business for over 30 years, and currently supports 6 million client accounts and over 18,000 advisors. LPL Financial provides security and stability for their financial professionals and their practices.

LPL advisors have direct access to a research department that has 35+ team members with over 400 years of combined industry experience giving advice on things like investment strategies and portfolios [3]. In addition, LPL has ZERO proprietary products to sell and has no investment banking relationships aligning the firms interests with that of the advisors and the clients.

3. Why did you choose to affiliate with LPL Financial?

LPL’s offerings allow me to put my clients’ best interests at the forefront of everything I do and will help provide a truly tailored experience. I can now offer clients the products and services that are the best fit for them and their long-term goals, without the constraints of forced models or reduced availability to different assets. I chose to affiliate with LPL as an employee, so I get all of the benefits of a large firm, along with the freedom and flexibility to operate on my own terms. I don’t have to deal with HR, real estate or the operational mechanics of running a firm. It gives me peace of mind knowing that the practice is taken care of, so that I can focus on serving my clients – and that’s what matters most.

4. Will a move to LPL Financial cause a taxable event for me?

The short answer is no! We will do our best to make this process easy and simple for you. There will be some paperwork for you, lots of paperwork for us, but most importantly—there will be no sale of assets during this transition. Thus, you will not incur a taxable event. In fact, in many instances I find new clients have opportunities to save taxes by harvesting tax losses that some bigger firms with strict models simply cannot do at a client level. Please know that if any administrative fees do occur as a result of this move, you are not responsible for these. LPL Financial will reimburse you for any account fees associated with this transition.

 
5. Has your investment strategy changed?

My investment strategy has remained the same for over 20 years. Focus on cost-effective investments, asset allocation, and rebalancing. My affiliation with LPL Financial will allow me to continue to provide this service to clients and will continue to be the majority of my business.

With that, on occasion a client may benefit from something a bit different. With LPL, I have access to thousands of other options and tools — from a simple CD or treasuries to more complex tax savvy outside managers.

It’s also nice to know that if the investment world changes, LPL will have strategies I can use in the capacity of a fiduciary.

6. Will there be a change/increase to the Fee Schedule?

When I designed my fee schedule my focus was to be fair and reasonable to clients. We have found that new clients can save a great deal of money which of course leads to more money for the client. In the future if anything needs to change, I get to control that decision.

7. If I transfer my assets, where will they be held, and how safe will they be?

As a Financial Industry Regulatory Authority (FINRA) member firm subject to the Federal Securities Laws and the rules of industry self-regulatory organizations, LPL Financial prioritizes its obligations to protect client assets in their custody with the utmost care and scrupulous adherence to financial protection rules, including those governing the segregation of client assets.

LPL Financial provides an enormous catalog of services and resources, as well as a long history of financial stability. The LPL Financial SIPC Membership provides account protection in the event of firm failure up to a maximum of $500,000 per customer, of which $250,000 may be claims for cash. An explanatory brochure is available at https://www.sipc.org.

Additionally, through London Insurers, LPL Financial accounts have additional securities protection to cover the net equity of customer accounts up to an overall aggregate firm limit of $575,000,000 subject to conditions and limitations. The account protection applies if an SIPC member firm fails financially and is unable to meet obligations to securities clients, but it does not protect against losses from the rise and fall in the market value of investments.

8. Will I have online access to see my allocation, values, trades, etc.?

After we have completed the transfer to LPL Financial, we will contact you to let you know how to enroll in the new client online portal where you will find all of the above and more.

9. What About Financial Planning?

With LPL I have access to the three main providers of Financial Planning software. The one I chose allows for interactive real time changes. If you would like to learn more, please email me and ask to see samples.

10. What Is Next?

Please reach out for a free initial consultation to see if the services I provide are a good fit for your needs.

Call or Text: 856-324-5894

Email: Nate.Spohn@lplfinancial.com

Disclosure:

Advisory services offered through LPL Financial, a registered investment advisor. All investing involves risk including loss of principal. No strategy assures success or protects against loss.

Sources:

[1] As reported by Financial Planning magazine, June 1996-2023, based on total revenue

[2] Cerulli Associates, 2019 U.S. RIA Marketplace Report

[3]  https://6519997.fs1.hubspotusercontent-na1.net/hubfs/6519997/LPL%20Research%20By%20The%20Numbers%20-%202023.pdf

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