LPL Financial and Momentum Wealth Partners Welcome Beacon Financial
Rhea-AI Summary
LPL Financial (NASDAQ: LPLA) announced that Beacon Financial has joined its broker-dealer, RIA, and custodial platforms, partnering with Momentum Wealth Partners. The Toledo-based Beacon Financial team, led by CEO Greg Kopan, transitions from Cetera with approximately $850 million in assets and 10 advisors.
Key factors in choosing LPL included its strategic succession planning team, integrated technology with single sign-on capabilities, and significant investment in cybersecurity (over $500 million last year). The multi-generational practice serves business owners, professionals, and retirees, focusing on personalized financial planning.
LPL Financial currently supports nearly 29,000 financial advisors and approximately 1,200 financial institutions, managing about $1.8 trillion in brokerage and advisory assets for approximately 7 million Americans.
Positive
- Addition of $850 million in assets under management to LPL's platform
- Expansion of LPL's advisor network with 10 new experienced advisors
- Strategic growth through successful recruitment from competitor Cetera
Negative
- None.
Insights
LPL adds $850M in assets by onboarding Beacon Financial, strengthening its advisor network and competitive position against Cetera.
The acquisition of Beacon Financial represents another strategic win for LPL Financial in the ongoing battle for advisor assets. This $850 million addition to LPL's platform demonstrates the company's continued execution of its growth strategy in the advisor-mediated marketplace. The transition of a 10-advisor team from direct competitor Cetera indicates LPL's strong competitive positioning, particularly in offering technology infrastructure and succession planning resources that are critical decision factors for multi-generational practices.
What's particularly noteworthy is Beacon's extensive due diligence process—10 months of research before selecting LPL—suggesting their platform offers compelling advantages that withstand rigorous scrutiny. LPL's $500+ million investment in technology infrastructure and cybersecurity last year appears to be paying dividends as a competitive differentiator, especially for practices with older client demographics where user experience and security concerns are paramount.
From a financial perspective, while the $850 million in assets represents only a fractional increase to LPL's $1.8 trillion total platform assets, these incremental acquisitions are fundamental to LPL's scaling strategy and compound over time. The multi-service approach—offering broker-dealer, RIA, and custodial services simultaneously—maximizes revenue potential from these assets while creating multiple relationship touchpoints that increase switching costs for advisors considering future moves.
The partnership with Momentum Wealth Partners demonstrates LPL's effective use of existing relationships to facilitate new acquisitions, creating an ecosystem where established firms help attract and integrate new practices, multiplying LPL's business development capabilities beyond its direct sales efforts.
SAN DIEGO, May 22, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that Beacon Financial has joined LPL Financial’s broker-dealer, Registered Investment Advisor (RIA) and custodial platforms, aligning with Momentum Wealth Partners, an existing firm supporting LPL-affiliated advisors. The Beacon Financial team of 10 advisors reported having served approximately
Based in Toledo, Ohio, Beacon Financial is led by Principal Owner and CEO Greg Kopan, AIF®, a seasoned financial services veteran with nearly two decades of industry experience. Kopan founded Beacon Financial in 1997 with the goal of helping clients build a more secure financial future. Today, Beacon Financial is a multi-generational practice leveraging multiple perspectives to work toward predictability for their clients’ wealth horizon.
“Our clients range from business owners and professionals to those nearing or in retirement, and we take a comprehensive approach to understanding each of their needs and goals to create a personalized and tailored plan to help them meet their short- and long-term goals,” Kopan said.
Looking to pair their client-centered philosophy with the desire to provide their clients with an elevated experience, the team spent 10 months researching firms and doing their due diligence before selecting LPL and Momentum as the best partners for their business goals.
“LPL stood out to us for several reasons,” Kopan said. “First, LPL has a strategic succession planning team, and that’s incredibly important as we are a multi-generational practice, and the future of the firm is always top of mind. LPL’s robust integrated and streamlined technology also stood out because we have a lot of older clients, and I am confident that having a single sign-on will be a positive change for them. Another deciding factor is that LPL understands our concerns around cybersecurity and is committed to helping combat the issue. Last year, LPL spent more than
Kevin Frank, Momentum Wealth Partners Managing Partner and Co-founder, stated, “At Momentum, our mission is to empower advisors to achieve their professional goals by providing strategic planning, personalized support and an unwavering partnership — the same type of partnership that the Beacon Financial team provides to their clients. We look forward to a successful partnership for years to come.”
Scott Posner, Managing Director, Business Development, said, “We welcome the Beacon Financial team and are honored they turned to LPL and Momentum Wealth Partners for the next phase of their business. At LPL, we are committed to helping advisors provide differentiated experiences by delivering innovative capabilities and strategic resources that make it easier for advisors to manage their practices and build long-term value with their clients.”
Related
Advisors, learn how LPL Financial can help take your business to the next level.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports nearly 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately
Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Beacon Financial, Momentum Wealth Partners and LPL Financial are separate entities.
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.
We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.
*Value approximated based on asset and holding details provided to LPL from end of year, 2024.
Media Contact:
Media.relations@LPLFinancial.com
Tracking #735638
FAQ
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