LPL Financial Welcomes CG Advisor Network

Historical insight — Originally published April 28, 2023. Preserved as historical content; information may have changed.

LPL Financial LLC announced April 18, 2023 that CG Advisor Network (CGAN), an entity of the RIA CG Advisory Services, has selected LPL as its primary custodian and exclusive broker-dealer. They reported having served approximately $3.1 billion in advisory and brokerage assets*, previously at TD Ameritrade and Geneos Wealth Management.

Headquartered in Haslett, Michigan, CG Advisor Network was founded in 1998 by CEO Anthony J. Mazzali CFP®, ChFC® and a team of captive advisors in pursuit of independence. After taking stock of the wealth management space, CGAN founders realized that many advisors were looking to run their practices more efficiently, more effectively and more independently. So they created a platform and back office support system that would enable them to transition smoothly from a large firm to their own shingle.

Twenty-five years later, CGAN has grown to 74 advisors who serve clients nationwide.

By working with a robust network of investment and technology partners, CGAN offers access to products and services at competitive prices, along with the control, customization and flexibility that so many wealth advisors seek.

“For independent advisors, firm culture is king – and our culture at CGAN is all about giving advisors the control they want over the way they work while providing the infrastructure and support necessary to drive meaningful growth. We’re the best of both worlds: a big independent firm with a regional feel,” Mazzali said.

CGAN turned to LPL in an effort to enhance service experiences and further demonstrate its commitment to be a top tier choice for advisors.

“We’re constantly striving to build the kind of future-proof platform that helps advisors eliminate back-office, technology and investment management burdens so they can spend more time where it really matters—growing their business. LPL has a very good understanding of the advisor as a client and will help make us only stronger in this endeavor,” Mazzali said. “We will remain multi-custodian, with LPL being the primary custodian in our search for the best partner in the custody space.”

CGAN leaders also recognized LPL’s flexibility and open-minded approach to supporting their business, as well as the firm’s commitment to future enhancements that support the evolution of the profession.

“We appreciate LPL’s corporate strategy and commitment to supporting large RIAs in the custodial only space, as well as the firm’s culture and attention to services and products that support both the advisor and end client,” Mazzali said. “We are confident with LPL’s footprint as a leading custodian, and appreciate the firm’s financial commitment to the custodial and FINRA space, which gives us confidence that we are making a long-term commitment to stay as a strong partner for our advisors.”

Scott Posner, LPL Executive Vice President, Business Development, stated, “On behalf of the entire LPL community, it’s a pleasure to welcome CG Advisor Network. We are honored this highly successful group turned to LPL in their mission to elevate their firm and be a top choice for advisors. As a leading custodian, LPL is 100-percent advisor-focused. Our entire goal is to support advisors and enterprises with innovative tools and resources, an award-winning models-based investment platform*** and differentiated service experiences designed to help them thrive as business owners and take care of their clients. We look forward to an exciting journey ahead with CG Advisor Network and supporting this team for years to come.”

LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader in the markets we serve**, supporting more than 21,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 500 registered investment advisor (“RIA”) firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.

As part of our adaptive, life-centric approach to wealth planning, CG Advisor Network enables advisory firms to provide high net-worth and affluent clients with personalized risk-managed solutions easily and effectively. By implementing our unique platform that promotes scalability and operational efficiency, advisors leverage our powerful, repeatable system to help them spend less time on investment management and back-office duties, and more time building their business. Made up of independent certified financial professionals that are held to the fiduciary standard, CG Advisor Network is a Registered Investment Advisor (RIA) headquartered in Haslett, Michigan offering services nationwide.

*Value approximated based on asset and holding details provided to LPL from year-end 2022.

**Top RIA custodian (Cerulli Associates, 2020 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S. (Based on total revenues, Financial Planning magazine 1996-2022); among third-party providers of brokerage services to banks and credit unions, No. 1 in AUM Growth from Financial Institutions; No. 1 in Market Share of AUM from Financial Institutions; No. 1 in Market Share of Revenue from Financial Institutions; No. 1 on Financial Institution Market Share; No. 1 on Share of Advisors. (2021-2022 Kehrer Bielan Research & Consulting Annual TPM Report). Fortune 500 as of June 2021.

LPL Financial and its affiliated companies provide financial services only from the United States.

***Model Wealth Portfolios (MWP) advisory platform won the Money Management Institute/Barron’s 2022 Industry Award for Wealth Management Platform of the Year. The award honors wealth management firms whose investment advisory platform exemplifies innovation in delivering better outcomes for investors and financial advisors.

Written by LPL Financial. April 18, 2023.