SAN DIEGO, Oct. 06, 2015 (GLOBE NEWSWIRE) — LPL Financial LLC, the nation’s largest independent broker-dealer*, a custodian for registered investment advisors (RIAs), and a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), today announced that Sandra Cho of Encino, Calif., has joined the LPL broker-dealer platform. Cho has formed Pointwealth Capital Management, an independent advisor firm and will provide fee-based advisory services through Golden State Wealth Management, an independent RIA firm serving 17 independent advisors throughout California on LPL’s hybrid RIA platform. Cho reported that, based on prior business, she had managed more than $184 million of assets, as of June 26, 2015**.
“I gave a lot of consideration to what would be the best affiliation model for my business and my clients,” said Cho. “LPL and Golden State were the clear choices for a variety of reasons. The independent model enables me to provide my clients with non-proprietary products, objective advice and a wide product selection. In addition, I was attracted to the ability to collaborate with other seasoned advisors and the oversight provided by Golden State.”
Cho focuses her advisory business around three main groups of constituents. A core component of her business is advising women and widows, a demographic with whom she empathizes, having been widowed with two young children herself years ago. She also engages in retirement planning for couples and individuals as well as tax management planning for business owners. She serves clients in the greater Los Angeles area, and several outlying areas.
Cho said that her approach to working with women differs from her approach to working with men. She finds that providing financial education factors heavily into her role as an advisor because, in her experience, she has found that women have often been dismissed or overlooked in financial conversations. In addition, Cho said she has found that women tend to be more collaborative and conservative investors as well as less reactive when markets take a turn.
“Sandra is an exceptional advisor, a woman of rare talent and an excellent partner for Golden State Wealth Management,” said Daniel Catone, AWMA, president of Golden State Wealth Management and a wealth manager. “Her combination of professional achievement and personal integrity are exactly what our firm looks for in our affiliated advisors. I am excited that our firm can help Sandra to grow her practice and deliver the unparalleled service her clients have come to expect.”
“We are thrilled to have Sandra Cho join LPL,” said Steve Pirigyi, executive vice president of business development, LPL. “We appreciate her commitment to educating and advising women investors and look forward to supporting her with the tools and resources that can help her to manage and grow her business.”
**Asset numbers were reported by Pointwealth Capital Management based on prior business and have not been independently and fully verified by LPL Financial.
*Based on total revenues, Financial Planning magazine, June 1996-2015
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the financial advice market and serves $486 billion in retail assets. The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,100 independent financial advisors and more than 700 banks and credit unions. LPL Financial is the nation’s largest independent broker-dealer since 1996 (based on total revenues, Financial Planning magazine, June 1996-2015), is one of the fastest growing RIA custodians with $112 billion in retail assets served, and acts as an independent consultant to over an estimated 40,000 retirement plans with an estimated $120 billion in retirement plan assets served, as of June 30, 2015. In addition, LPL Financial supports approximately 4,300 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,385 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visitwww.lpl.com.
Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC
Additional investment advice offered through Golden State Wealth Management, a registered investment advisor.
Pointwealth Capital Management and Golden State Wealth Management are separate entities from LPL Financial.