LPL Financial Welcomes ProsperLane Financial

Rhea-AI Summary

LPL Financial (NASDAQ:LPLA) has announced that ProsperLane Financial, a mother-son team managing approximately $250 million in assets, has joined LPL's broker-dealer and RIA platform. The team consists of Sheri Johnston, CFP® (formerly with Edward Jones) and Jason Hotzler (previously with Thrivent Investment Management), who together bring over 25 years of experience.

Based near Minneapolis, ProsperLane Financial specializes in serving young professionals, small businesses, and family-run firms. The team chose LPL for its enhanced technology offerings and succession planning support. LPL Financial currently supports over 29,000 financial advisors and approximately 1,200 financial institutions, with approximately $1.8 trillion in brokerage and advisory assets under management.

SAN DIEGO, July 30, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that mother and son team, Sheri Johnston, CFP^® and Jason Hotzler, from ProsperLane Financial have joined LPL Financial’s broker-dealer, Registered Investment Advisor (RIA). They reported serving approximately $250 million in advisory, brokerage and retirement plan assets.* Johnston joins LPL from Edward Jones and Hotzler from Thrivent Investment Management.

Based outside of Minneapolis in Prior Lake, Minn., Johnston and Hotzler have over 25 years of experience. They focus on serving young professionals who can grow into long-term clients, as well as small businesses and family-run firms.

“Our client philosophy is simple. We stand by our values of personalized customer service, quality products, reasonable expenses and always doing what is best for the client,” said Hotzler. “My family has owned businesses throughout my lifetime, so I’m excited to finally have a small business that I can share with my mother. We connect well with other family business clients, because it just speaks to where we’ve come from and what we’ve been doing for generations.”

Why ProsperLane Financial chose LPL

Looking for improved technology offerings to provide an elevated client experience and the counsel and support to create a succession plan for ProsperLane, the team turned to LPL after an extensive due diligence process.

“I chose LPL after a lengthy review of options available to me and my son. I wanted to build a multigenerational financial services office which would allow us to work together as a team and expand our services to our clients,” said Johnston. “We want to grow and have additional staff who have expertise in tax, accounting and legal fields. LPL gives us powerful resources and the freedom to support our growth, our way.”

Scott Posner, Managing Director, Business Development, said, “We welcome Sheri and Jason to LPL. LPL offers innovative technology and the strategic support advisors can use to deliver differentiated client experiences. We look forward to supporting the team as they continue to grow and support families in the Minneapolis area.”

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 over 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.8 trillion in brokerage and advisory assets on behalf of approximately 7 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.

Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. ProsperLane Financial 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 #775633

FAQ

How much in assets did ProsperLane Financial bring to LPL Financial (NASDAQ:LPLA)?

ProsperLane Financial reported serving approximately $250 million in advisory, brokerage and retirement plan assets upon joining LPL Financial.

What is LPL Financial's (NASDAQ:LPLA) current assets under management in 2025?

LPL Financial services and custodies approximately $1.8 trillion in brokerage and advisory assets on behalf of approximately 7 million Americans.

How many financial advisors does LPL Financial (NASDAQ:LPLA) support?

LPL Financial supports over 29,000 financial advisors and wealth management practices of approximately 1,200 financial institutions.

Who are the key team members joining LPL Financial from ProsperLane?

The key team members are Sheri Johnston, CFP®, who joins from Edward Jones, and her son Jason Hotzler, who joins from Thrivent Investment Management.

Why did ProsperLane Financial choose to join LPL Financial?

ProsperLane chose LPL Financial for its improved technology offerings, enhanced client experience capabilities, and support for creating a succession plan for their multi-generational practice.