Coastal Wealth Management Group joins LPL Financial, enhancing client services and expertise, with a focus on music industry and athletes.
Quiver AI Summary
LPL Financial LLC announced that the advisors from Coastal Wealth Management Group have joined Financial Resources Group Investment Services, which supports LPL-affiliated advisors. Coastal Wealth Management, based in Ocean Springs, Mississippi, manages around $175 million in advisory, brokerage, and retirement plan assets and previously operated under Osaic. The team, comprised of local members Lloyd Baxter, George Cumbest, Darryl Meadows, and Timothy Taranto, focuses on business owners, pre-retirees, and retirees, with plans to also mentor clients in the music industry and college athletics. Motivated by positive feedback from other advisors about LPL's technology and support, the group believes the move will enhance their service offerings and provide stability. Leaders from both LPL and Financial Resources Group expressed their excitement about the partnership and commitment to adding value to the business as they expand in the Gulf Coast region.
Potential Positives
- Coastal Wealth Management Group joining LPL Financial indicates a successful recruitment of a well-established team with approximately $175 million in client assets, enhancing LPL's roster of affiliated advisors.
- The move reflects LPL's commitment to providing up-to-date technology and robust support, which is pivotal for advisors looking to enhance their offerings and client services.
- The partnership positions LPL for growth opportunities in the Gulf Coast region, as Coastal Wealth Management Group targets business owners and unique markets such as the music industry and college athletes.
- LPL Financial's reputation as a leader in the financial advisor-mediated marketplace is strengthened with the addition of a team with significant community ties and industry expertise.
Potential Negatives
- The transition of Coastal Wealth Management Group from Osaic to LPL Financial could indicate potential instability or dissatisfaction with their previous affiliation, raising concerns about LPL's ability to retain advisors.
- The statement highlights a significant due diligence process, suggesting that Coastal Wealth Management Group had several reservations about joining LPL, which might signal underlying issues with the firm's attractiveness to new advisors.
- The emphasis on wanting a "more robust technology platform" might hint that LPL's current technology offerings were previously seen as insufficient by prospective advisors.
FAQ
What is the recent announcement from LPL Financial?
LPL Financial announced that Coastal Wealth Management Group has joined Financial Resources Group Investment Services, enhancing their service offerings.
Who are the members of Coastal Wealth Management Group?
The team includes Lloyd Baxter, George Cumbest, Darryl Meadows, and Timothy Taranto, all originally from the Mississippi Gulf Coast.
Why did Coastal Wealth Management Group choose LPL Financial?
They selected LPL for its robust technology platform, positive advisor feedback, and commitment to support their growth and stability.
What audience does Coastal Wealth Management Group serve?
They work primarily with business owners, pre-retirees, retirees, and are focused on the music industry and college athletes.
What assets does Coastal Wealth Management Group manage?
They reported managing approximately $175 million in advisory, brokerage, and retirement plan assets as they join LPL Financial.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$LPLA Congressional Stock Trading
Members of Congress have traded $LPLA stock 2 times in the past 6 months. Of those trades, 2 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $LPLA stock by members of Congress over the last 6 months:
- SENATOR MARKWAYNE MULLIN has traded it 2 times. They made 2 purchases worth up to $150,000 on 05/13, 02/13 and 0 sales.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$LPLA Insider Trading Activity
$LPLA insiders have traded $LPLA stock on the open market 22 times in the past 6 months. Of those trades, 0 have been purchases and 22 have been sales.
Here’s a breakdown of recent trading of $LPLA stock by insiders over the last 6 months:
- MATTHEW ENYEDI (Managing Director) sold 5,154 shares for an estimated $1,903,526
- MATTHEW J AUDETTE (President and CFO) sold 4,588 shares for an estimated $1,652,001
- RICHARD STEINMEIER (Chief Executive Officer) sold 3,500 shares for an estimated $1,308,265
- GREG GATES (Group Managing Director) has made 0 purchases and 16 sales selling 3,000 shares for an estimated $1,142,251.
- MARC ELIOT COHEN (Managing Director) sold 1,100 shares for an estimated $402,435
- ANERI JAMBUSARIA (Group Managing Director) has made 0 purchases and 2 sales selling 160 shares for an estimated $55,668.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$LPLA Hedge Fund Activity
We have seen 447 institutional investors add shares of $LPLA stock to their portfolio, and 306 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WINSLOW CAPITAL MANAGEMENT, LLC added 1,457,701 shares (+inf%) to their portfolio in Q1 2025, for an estimated $476,872,305
- DODGE & COX added 1,053,351 shares (+224.1%) to their portfolio in Q1 2025, for an estimated $344,593,246
- PRINCIPAL FINANCIAL GROUP INC added 971,814 shares (+1453.3%) to their portfolio in Q1 2025, for an estimated $317,919,231
- MILLENNIUM MANAGEMENT LLC removed 773,101 shares (-86.0%) from their portfolio in Q1 2025, for an estimated $252,912,261
- CLARKSTON CAPITAL PARTNERS, LLC added 674,227 shares (+inf%) to their portfolio in Q1 2025, for an estimated $220,566,620
- ALLIANCEBERNSTEIN L.P. added 642,503 shares (+550.5%) to their portfolio in Q1 2025, for an estimated $210,188,431
- EGERTON CAPITAL (UK) LLP added 613,555 shares (+238.1%) to their portfolio in Q1 2025, for an estimated $200,718,382
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$LPLA Analyst Ratings
Wall Street analysts have issued reports on $LPLA in the last several months. We have seen 5 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Morgan Stanley issued a "Overweight" rating on 07/15/2025
- Wells Fargo issued a "Overweight" rating on 07/11/2025
- Barclays issued a "Overweight" rating on 07/10/2025
- Redburn Atlantic issued a "Buy" rating on 06/09/2025
- JMP Securities issued a "Market Outperform" rating on 05/09/2025
To track analyst ratings and price targets for $LPLA, check out Quiver Quantitative's $LPLA forecast page.
$LPLA Price Targets
Multiple analysts have issued price targets for $LPLA recently. We have seen 8 analysts offer price targets for $LPLA in the last 6 months, with a median target of $437.5.
Here are some recent targets:
- Kyle Voigt from Keefe, Bruyette & Woods set a target price of $435.0 on 08/04/2025
- Benjamin Budish from Barclays set a target price of $463.0 on 08/01/2025
- Michael Cyprys from Morgan Stanley set a target price of $490.0 on 07/15/2025
- Michael Brown from Wells Fargo set a target price of $420.0 on 07/11/2025
- Bill Katz from TD Cowen set a target price of $403.0 on 07/09/2025
- Charles Bendit from Redburn Atlantic set a target price of $460.0 on 06/09/2025
- Christopher Allen from Citigroup set a target price of $400.0 on 06/09/2025
Full Release
SAN DIEGO, Aug. 07, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that the advisors of Coastal Wealth Management Group have joined Financial Resources Group Investment Services , an existing firm supporting LPL-affiliated advisors. They reported serving approximately $175 million in advisory, brokerage and retirement plan assets* and join LPL from Osaic.
Based on the Gulf Coast in Ocean Springs, Miss., the team includes Lloyd Baxter CWS®, AIF®, George Cumbest, Darryl Meadows and Timothy Taranto. They were all born and raised on the Mississippi Gulf Coast and continue to be active members of their community. Coastal Wealth Management Group works with business owners, pre-retirees and retirees and has its sights set on advising clients in the music industry as well as college athletes.
“We aim to follow our passions and transform relationships into clients. One of my favorite ways to gain clients is naturally, through activities I enjoy, such as collaborating with songwriters at a nonprofit,” said Cumbest, who also serves as the President of the Mississippi Songwriter Alliance in his free time. “We are a process-driven yet relationship-oriented group. Over the years, some of our clients have become our friends. We have a well-defined, technical process for meeting with clients. We conduct thorough research, listen to their stories and goals, and then develop and propose a tailored plan.”
Why Coastal Wealth Management Group Chose LPL
Looking to enhance their offerings, increase their capacity to serve clients and enjoy a more robust technology platform, the team made the move to LPL after an in-depth due diligence process.
“I spoke with about 30 advisors and assistants, discussing in detail how they were finding their experience with LPL. The conversations were positive, and everyone seemed very happy,” said Cumbest, who was with LPL from 2010 to 2015. “The people we've been working with at LPL have been great. We appreciate that the technology is up to date, they have the resources to support us and LPL’s strong footprint for acquisitions stood out to us as we look to grow. We believe LPL will offer us more stability moving forward, and we feel positive about our future with LPL.”
Adam Rean-Bohlen, Director of Business Consulting at Financial Resources Group, said, “We’re honored to welcome Lloyd, George, Darryl and Timothy to the Financial Resources Group family. Their industry expertise aligns perfectly with our commitment to excellence, and we’re excited to continue the partnership in 2025 and beyond. Our number-one goal is to create meaningful value for their business.”
Scott Posner, Managing Director, Business Development, said, “We welcome the team at Coastal Wealth Management Group to LPL. At LPL, we are deeply committed to helping business owners like Lloyd, George, Darryl and Timothy by investing in robust, integrated technology capabilities designed to help advisors provide clients with differentiated experiences. We look forward to supporting the team for years to come as they expand in the Gulf Coast region.”
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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 1,100 financial institutions, servicing and custodying approximately $1.9 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. Coastal Wealth Management Group 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.
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