LPL Acquires $3.1B Company From TD Ameritrade

Financial Advisors


LPL currently supports over 21,000 financial advisors, including advisors for approximately 1,100 companies and approximately 500 RIAs.

CG Advisor Network has selected LPL Financial as its primary custodian and exclusive broker-dealer, LPL said Tuesday.

Based in Haslett, Michigan, CGAN, a division of Registered Investment Management CG Advisory Services, serves CGAS’ independent advisory staff, formerly TD Ameritrade and Geneos Wealth Management, with approximately $3.1 billion in provided advisory and brokerage assets for

TD Ameritrade did not immediately respond to a request for comment.

According to his report on the Securities and Exchange Commission’s website, CGAN was founded in 1998 by CEO Anthony J. Mazzari, a certified financial planner with 29 years of experience in the field.

In a news release, LPL said, “After examining the wealth management space, the founders of CGAN realized that many advisors are seeking to conduct their work in a more efficient, effective and more independent manner. “So they created a platform and back-office support system that allowed a smooth transition from a large company to their own company. [operation]”

CGAN has grown to 74 advisors serving clients nationwide. The firm said it chose LPL “to enhance its service experience and further demonstrate its commitment to being the best choice for advisors.”

“We are committed to building a future-proof platform that takes the burden off the back office, technology and investment management from advisors so they can spend more time doing what really matters: growing their business. We are always working on it.”

“LPL understands our advisors as clients very well and helps make us stronger in this effort. They are the main custodians when looking.”

According to LPL, CGAN executives also “recognized the flexibility and open-minded approach to supporting LPL’s business and the company’s commitment to future enhancements that support the evolution of the profession.”

“We appreciate LPL’s corporate strategy and commitment to supporting large-scale RIAs in the custodial-only space, as well as the company’s culture and attention to services and products that support both advisors and end-clients,” said Mazzali. said in a statement.

LPL currently supports more than 21,000 financial advisors, including advisors for approximately 1,100 companies and approximately 500 RIAs nationwide, and stores or services assets for $1 trillion of brokerage and advisory clients.

(Photo: LPL campus in South Carolina. Photo: LPL Financial)



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