First Allied Securities, a Cetera Financial Group Firm, Assists Lifestyle Financial Advisors in Attracting $167 Million Independent Advisory Practice
Friendswood, Texas-Based Lifestyle Exceeds $500 Million in Assets with Addition of Laura A. Nagle, Local Retirement Planning Advisor
San Diego, Calif. – First Allied Securities (First Allied), a leading independent broker dealer with more than three decades of history serving successful financial advisors, announced today that one of its affiliated independent financial advisory firms, Lifestyle Financial Advisors (“Lifestyle”) has completed the merger of the Laura A. Nagle independent advisory practice into their organization. Ms. Nagle, a 35-year industry veteran, has joined Lifestyle with more than $167 million in client assets, as of October 31, 2016. First Allied, an affiliate of Cetera Financial Group, a leading network of independent firms, assisted in facilitating the transaction in support of Michael A. Wegner, CWS®, Founder, President and CEO of Lifestyle.
Kevin Keefe, President and Chief Executive Officer of First Allied, said, “First Allied is very pleased to have assisted in the merger of Laura Nagle’s independent advisory practice into Lifestyle Financial Advisors. Ms. Nagle has been an extraordinarily successful, well-established financial advisor, primarily serving retirement-planning accounts in the South Houston area, and her business fits extremely well with Lifestyle’s advisory specialties and geographic footprint. In joining Lifestyle, Ms. Nagle’s clients will gain access to an expanded suite of top-quality wealth management solutions and services through Lifestyle, First Allied and the Cetera network.”
Mr. Keefe continued, “First Allied has dedicated significant resources to helping our advisors realize their expansion goals, and we are delighted to assist Lifestyle in continuing to fulfill its growth strategy of adding additional advisors to its business in the South Texas region.”
Lifestyle Financial Advisors, based in Friendswood, Texas, is a leading independent retirement and estate-consulting firm offering a wide range of wealth-creation and preservation strategies. It provides asset management, investment solutions and insurance, as well as education planning services, to a predominantly mass-affluent clientele, largely in the petrochemical industries. Through its holistic planning services, Lifestyle provides “big picture” financial management and works closely with accountants and legal counsel to ensure a comprehensive plan is in place to meet its clients’ future financial and individual retirement needs. Lifestyle has a total of seven advisors who provide both commission- and fee-based advisory services, as well as five professional support staff. With the addition of the Laura Nagle practice, Lifestyle will now serve approximately $510 million in client assets. In addition to its headquarters in Friendswood, Lifestyle has offices in Texas City and Deer Park, Texas, all in the Gulf Coast area.
Mr. Wegner said, “I am excited that Laura Nagle has joined our firm. I have known Laura as a local colleague and competitor for many years and continue to admire the exceptional business she has built. Although we serve similar clients, in the same geographic region, with similar financial needs, I believe they will benefit from their new affiliation with Lifestyle and its multi-advisor capabilities, as well as from the expanded resources and asset management solutions available through First Allied and Cetera. Furthermore, I believe that Laura’s predominantly commission-based business will better service many of her clients by offering them the option of both commission- and fee-based advice through Lifestyle.”
He added, “With this merger, and following our other recent advisor acquisitions, Lifestyle now has the people, the assets and the offices to grow our business substantially over the next several years, and is well positioned to attract additional advisors into the firm.”
Laura Nagle began her career in the teaching profession before switching to financial advising 35 years ago. A segment of her business is still in 403(b) retirement planning for educators, but today she primarily serves the retirement rollover and retirement planning needs of clients in the petrochemical industries.
Ms. Nagle said, “I am delighted to join my practice to Lifestyle Financial Advisors and offer my clients more services and solutions than I previously could. I am also pleased to affiliate with a firm so committed to the independent advisory model, which will allow me to continue to provide my clients with a close personal relationship and offer them a wide range of open-architecture, non-proprietary products and financial solutions that best meet their financial needs.”
About First Allied
Based in San Diego, First Allied serves as the firm of choice for independent financial advisors from across the nation who seek to grow their businesses. The firm is a leader in developing meaningful partnerships with business owners who seek to help their clients reach their financial goals, and have been doing so for over three decades. Our exclusive business development platform has been expertly constructed to provide entrepreneurial financial advisors with one of the most comprehensive platforms for growth in the industry. First Allied is part of Cetera Financial Group®, a leading network of independent retail broker-dealers.
First Allied offers securities through First Allied Securities, Inc., a registered broker-dealer, member FINRA/SIPC. Advisory services are offered through First Allied Advisory Services, Inc., a registered investment adviser. For more information, please visit www.firstallied.com.
About Cetera Financial Group®
Cetera Financial Group ("Cetera") is a leading network of independent firms empowering the delivery of objective financial advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions. Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions.
Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations. Advisor support resources offered through Cetera include award-winning wealth management and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology. For more information, visit www.ceterafinancialgroup.com.
* "Cetera Financial Group" refers to the network of independent retail firms encompassing, among
others, Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services (marketed as Cetera Financial Institutions), Cetera Financial Specialists, First Allied Securities, Girard Securities and Summit Brokerage Services.
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