LPL Financial welcomes advisor Michael Carmichael, who brings $190 million in assets and seeks to enhance client services.
Quiver AI Summary
LPL Financial LLC has announced the addition of financial advisor Michael Carmichael, RFC®, CRPS®, founder of Carmichael Financial, to its broker-dealer and RIA platforms. With approximately $190 million in client assets and over 20 years of experience in financial services, Carmichael emphasizes helping clients achieve secure financial futures through a comprehensive service approach. A veteran of the U.S. Marine Corps, he values honor and commitment in his practice. Carmichael joined LPL to leverage its advanced technology and resources to grow his business, and he appreciates the support for mergers and acquisitions provided by LPL. Scott Posner from LPL warmly welcomed Carmichael and highlighted the firm’s investment in innovative solutions to help advisors succeed.
Potential Positives
- Michael Carmichael's joining LPL Financial adds approximately $190 million in advisory, brokerage, and retirement plan assets, enhancing LPL's asset base and market presence.
- LPL's investment of over $500 million in technology and resources demonstrates its commitment to supporting advisors and improving client services, making it an attractive option for financial professionals.
- The addition of Carmichael, who has over 20 years of experience, showcases LPL’s ability to attract seasoned advisors seeking growth and support, reinforcing its position as a leading wealth management firm in the industry.
Potential Negatives
- The press release does not provide specific information about the financial performance or growth metrics of LPL Financial, which could raise concerns for investors about its current market position.
- There is no mention of how the addition of Michael Carmichael will directly impact LPL Financial's overall performance or service offerings, leaving some ambiguity about the strategic value of this addition.
- Despite showcasing significant investments in technology, the release lacks details on the effectiveness or measurable outcomes of these investments, which may lead to skepticism about their return on investment.
FAQ
Who is Michael Carmichael and what firm did he join?
Michael Carmichael is a financial advisor who recently joined LPL Financial's broker-dealer and RIA platforms from Osaic.
What assets does Michael Carmichael manage?
Michael Carmichael manages approximately $190 million in advisory, brokerage, and retirement plan assets.
What services does Carmichael Financial offer?
Carmichael Financial provides comprehensive wealth management services including investments, risk management, tax strategies, retirement planning, and estate planning.
Where are Carmichael Financial's offices located?
Carmichael Financial operates offices in Tucson, Arizona; Englishtown, New Jersey; and Logan, Utah.
What motivated Carmichael to join LPL Financial?
Carmichael believes LPL's resources, technology investments, and support will enhance his ability to serve and grow his client base.
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 1 times in the past 6 months. Of those trades, 1 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 purchased up to $100,000 on 02/13.
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$LPLA Insider Trading Activity
$LPLA insiders have traded $LPLA stock on the open market 13 times in the past 6 months. Of those trades, 0 have been purchases and 13 have been sales.
Here’s a breakdown of recent trading of $LPLA stock by insiders over the last 6 months:
- MATTHEW J AUDETTE (President and CFO) has made 0 purchases and 9 sales selling 33,365 shares for an estimated $12,159,676.
- MATTHEW ENYEDI (Managing Director) sold 5,154 shares for an estimated $1,903,526
- RICHARD STEINMEIER (Chief Executive Officer) sold 3,500 shares for an estimated $1,308,265
- MARC ELIOT COHEN (Managing Director) sold 1,100 shares for an estimated $402,435
- ANERI JAMBUSARIA (Managing Director) sold 305 shares for an estimated $101,241
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$LPLA Hedge Fund Activity
We have seen 331 institutional investors add shares of $LPLA stock to their portfolio, and 404 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CAPITAL RESEARCH GLOBAL INVESTORS removed 1,577,102 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $366,881,238
- FIRST TRUST ADVISORS LP removed 981,006 shares (-99.0%) from their portfolio in Q4 2024, for an estimated $320,308,269
- BOSTON PARTNERS added 805,637 shares (+26.0%) to their portfolio in Q4 2024, for an estimated $263,048,536
- JANUS HENDERSON GROUP PLC added 522,032 shares (+20.6%) to their portfolio in Q4 2024, for an estimated $170,448,668
- EMINENCE CAPITAL, LP removed 519,462 shares (-48.2%) from their portfolio in Q4 2024, for an estimated $169,609,537
- BALYASNY ASSET MANAGEMENT L.P. added 471,488 shares (+inf%) to their portfolio in Q4 2024, for an estimated $153,945,546
- DODGE & COX added 454,553 shares (+2922.0%) to their portfolio in Q4 2024, for an estimated $148,416,100
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SAN DIEGO, March 03, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq:LPLA) announced today that financial advisor Michael Carmichael, RFC®, CRPS®, founder of Carmichael Financial , has joined LPL Financial’s broker-dealer, Registered Investment Advisor (RIA) and custodial platforms. He reported serving approximately $190 million in advisory, brokerage and retirement plan assets* and joins LPL from Osaic.
With more than 20 years in financial services, Carmichael is passionate about helping his clients work toward building more secure financial futures. He works with five support staff members to provide a wide range of comprehensive wealth management services, including investments, risk management, tax strategies, retirement income planning and estate planning. They operate from registered offices in Tucson, Ariz., Englishtown, N.J., and Logan, Utah.
Prior to becoming an advisor, Carmichael spent eight years in the U.S. Marine Corps, serving in the Gulf War. He holds fast to the Corps values of honor, courage and commitment, often applying those same principles within his practice.
Carmichael’s aspirations to grow his business and elevate client experiences led him to LPL Financial.
“I’m always looking out for the best interest of my clients, and I believe they are in a better position at LPL, a publicly traded Fortune 500 company that regularly makes significant investments into technology, resources and service,” Carmichael said. “LPL is in growth mode and so is my business. As I look to expand my firm, I appreciate knowing I have the support and M&A experience of LPL behind me. In fact, LPL has already connected me with other advisors looking to retire soon. I am confident that these connections, paired with LPL’s other growth solutions and strategies, will help propel our business forward.”
Scott Posner, LPL Executive Vice President, Business Development, said, “I’d like to extend a warm welcome to Mike and his team. At LPL, we understand that advisors are looking for sophisticated capabilities and the autonomy to build and grow their ideal practice according to their vision. That’s why we invested more than $500 million last year in innovative technology and strategic resources to help their businesses thrive, both operationally and strategically. We look forward to a long-lasting relationship with Carmichael Financial.”
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 $1.7 trillion in brokerage and advisory assets on behalf of approximately 6 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. Carmichael Financial and LPL 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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