A financial advisor who had managed $165 million in client assets at Cetera Financial Specialists is joining LPL Financial, the firm announced Thursday, and will align with Gladstone Wealth Partners.
Frank Cangelosi operates as Cangelosi Wealth Management in Hawthorne, N.J. He’s accompanied in the move by three staffers, two of whom are working on their Series 7 licenses.
In a statement, Cangelosi said he was looking for additional tools and support, as well as help with a succession plan.
“I’ve been with the same firm my entire career, but after a thorough due diligence process, it became clear that my clients would be better served with more localized resources provided by Gladstone, backed by the support of LPL’s industry-leading technology and business solutions,” he said. “I have about 1,400 client accounts and want to make sure they are taken care of for generations to come.”
Cangelosi has helped trained hundreds of advisors, and said joining LPL should allow his firm to provide more opportunities for next-gen advisors.
Cangelosi has 31 years of experience, according to his BrokerCheck report.
Counting advisor moves in and out of firms requires some art as well as science.
“I'm just a big believer that based on demographics alone, we are looking at a 10-to-15 year bull market in M&A in the RIA and independent wealth space,” said Michael Belluomini, SVP of M&A at Carson Group.
As a tsunami of retirees comes crashing in, three-fifths of those surveyed believe – wrongly – that the federal safety net will cover their LTC needs.
Orion's latest update, a partnership with 11th.com, focuses on an underserved area of compliance for advisors and wealth firms.
The latest arrivals, including a 10-advisor ensemble from Ameriprise, bolster the firm's independent contractor and employee advisor channels.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
