Timeline Continued Support FAQ About LPL
Hello,
As we continue to navigate your financial journey together, it's important to us that we share developments that are intended to enhance the support and services we provide you.
We at Kelly Financial Group (KFG) are pleased to announce an exciting new chapter: Atria Wealth Solutions, the parent company of our broker-dealer SCF, has agreed to be acquired by LPL Financial LLC (LPL), a leader in the wealth management industry.
This partnership is a deliberate move to bolster our capabilities and to continue working towards meeting your needs with even greater resources and services. The companies will work together to obtain regulatory approval for the transaction, which is expected to close in the second half of 2024.
♦
Timeline and what this means for you:
•What to expect: It’s business as usual for the time being, with no changes to our operations or your services. Our priority remains to provide you with the unwavering support and personalized financial advice you've come to expect from us.
•Communication and compliance: You should have already received several communications including regulatory disclosures from both Kelly Financial Group and SCF concerning LPL’s acquisition of Atria and the potential impact to you and on your investments.
—
We now have greater clarity on the timeline for our transition to LPL, which is expected to occur in early December 2024. At that time, we will require your signature or e-signature to complete the process.
We understand that transitions can be a time of uncertainty, and we want to assure you that we are committed to making this process as smooth and seamless as possible. Our team will be here to guide you through each step, ensuring that you have all the necessary information and support.
Throughout the transition period, we will keep you informed with regular updates and detailed instructions. Should you have any questions or require assistance at any point, please do not hesitate to reach out to us. Our goal is to provide you with uninterrupted service and to enhance your overall experience with the advanced capabilities that the new platform will offer.
Thank you for your continued trust and partnership. We look forward to continuing to serve you with the highest level of professionalism and care.
We hope this addresses your concerns. If you have any further questions, please don't hesitate to reach out to us. We are here to ensure a smooth and seamless transition for you.
♦
Continued Support
We understand that change, even when beneficial, can bring questions. We are here to address any questions you may have and to provide clarity on how these developments will serve to enhance the quality and scope of services we provide. Thank you for your continued trust and partnership. We are excited about the opportunities this partnership with LPL means in our relationship with you and are committed to leveraging these new resources for your benefit.
We value our relationship with you and are excited to take this next step with you.
♦
Below are some Frequently Asked Questions concerning this change.
FAQ
Will you still be my advisor?
- Yes, our entire team will continue to be available to you. We are committed to maintaining our relationship and providing you with the highest level of service that you’ve become accustomed to.
Was Kelly Financial purchased as well?
- No, Kelly Financial group is still independently owned and operated. We will continue to serve you as we always have.
Will I be informed about updates and changes during the transition?
- Yes, we will keep you informed and guide you through every step of the transition. Our goal is to ensure you are fully aware of all updates and changes.
Can I speak to someone for more information or assistance? Who?
- Of course! You can always call us directly or visit our office. We are here to answer any questions and provide the support you need always.
Will your contact information or location change?
- No, our contact information and location will remain the same. We are here to serve you just as we always have.
Will I lose any services offered?
- No, in fact, with LPL's advanced technology, your services should improve. You will continue to receive the same level of service as you have before, if not better.
What do I need to do?
- You will need to complete and sign the paperwork we provide. This will initiate the transfer process. We are here to assist you with any questions or concerns you may have during this time.
Will there be any fees or costs associated with the change?
- No, there are no additional fees or costs incurred by you due to this transition. Your current fee structure will remain unchanged.
How long will the transfer to LPL take?
- The entire transfer process will take a few months to complete. However, once you have signed the necessary paperwork, your accounts will transfer within a few weeks or less. We will keep you informed every step of the way to ensure a smooth transition.
What perks does LPL offer?
- LPL offers advanced back-office technology, which allows us to provide enhanced service and support. This means faster processing times, better access to information, and a more streamlined experience for you.
Will I need to sign any documents or set up new accounts?
- Yes, you will need to sign some paperwork to facilitate the transfer, and new accounts will be set up for you. We will provide clear instructions and support to make this process as straightforward as possible.
Will my fees change?
- No, your fee will remain at its current rate. The only change will be in the billing cycle, which will switch from monthly to quarterly. We believe this adjustment will provide a smoother and more efficient experience for you.
Will there be any changes to the services or platforms offered (client portal, etc)?
- Yes, the platform will transition to LPL's system. You will still have access to a client portal with all the same services, and you will benefit from LPL's advanced technology.
How will I access my account during the transition? Can I still see my accounts online?
- Yes, you will continue to have online access to your accounts. However, you will need to reestablish your credentials/ passwords. We will provide guidance to help you through this process.
What will happen to my investments?
- Your investments will remain the same, with adjustments made as needed, just as they are now. There will be no changes to your investment strategy unless we discuss and agree upon them together.
Is my account protected during the transfer process?
- Yes, your account is fully protected throughout the transfer process. We take every precaution to ensure your investments are secure.
Will I lose access to my accounts?
- Your old accounts will be closed, but you will still have access to past records from those accounts. Your new accounts will provide continued access to all your investment information.
Do I need to re-sign with your firm?
- You will need to sign paperwork to transfer your accounts to LPL. This will ensure that you remain a valued client of our firm.
Will I still have online access through LPL?
- Absolutely. You will continue to have online access through this process. We are committed to ensuring that your online experience remains seamless and secure.
Will I lose money during the transition?
- No, your accounts will remain fully invested during the transition. There will be no disruption to your investment strategy or performance.
How will this affect my systematic withdrawals?
- Your systematic withdrawals should not be affected by this transition. We will work to ensure there is no interruption to your regularly scheduled withdrawals.
Will this new company force me to change my strategy or investments?
- No, Kelly Financial will remain your advisor, and we will continue to guide your strategy and investments together. Your investment goals and preferences will remain our top priority.
Will my account number change?
- Yes, you will receive new account numbers for your accounts with LPL. We will provide all the necessary details and support to update your records.
—
If you have any questions or concerns please don't hesitate to reach out to us. 661-273-9005
Send us a message
Contact Us
♦
About LPL Financial
LPL Financial Holdings Inc. (commonly referred to as LPL Financial) was founded in 1989 [1] and is considered the largest independent broker-dealer in the United States. As of 2021 the company had more than 17,500 financial advisors [2], over US$1 trillion in advisory and brokerage assets [3], and generated approximately $5.9 billion in annual revenue for the 2020 fiscal year[4]. LPL Financial was formed in 1989 through the merger of two brokerage firms—Linsco (established in 1968) and Private Ledger (established in 1973)—and has since expanded its number of independent financial advisors both organically and through acquisitions. LPL Financial has main offices in Boston, Fort Mill, Austin, and San Diego [5]. The company is a member of FINRA and the SIPC [6].
LPL Financial
1. "Our History". www.lpl.com. Retrieved 2020-11-02.
2. "LPL Financial Holdings | 2021 Fortune 500". Fortune. Retrieved 2021-06-14.
3. "Corporate Snapshot". www.lpl.com. Retrieved 2021-02-12.
4. "LPL Financial Announces Fourth Quarter and Full Year 2020 Results". Retrieved 2021-02-11.
5. "LPL Financial Work Locations". www.lpl.com. Retrieved 2020-11-02.
6. "LPL Financial". www.lpl.com. Retrieved 2021-02-12.