Northern Plains Financial Joins LPL Financial's Broker-Dealer Network

Introduction of Northern Plains Financial to LPL Financial

Northern Plains Financial has officially become a part of LPL Financial’s extensive broker-dealer, RIA, and custodial platforms. This notable transition marks a significant step for both the financial advisory firm and LPL Financial, providing a greater array of services to their clients. Currently, Northern Plains Financial manages approximately $225 million in various assets, including advisory, brokerage, and retirement plans.

The Leadership Behind Northern Plains Financial

Northern Plains Financial is headquartered in Grand Forks and was established in 2014 under the leadership of Michael Elsberry, a Certified Financial Planner (CFP) and Chartered Retirement Planning Counselor (CRPC). With nearly two decades of experience in financial services, Elsberry has shaped a robust foundation for the firm. He was later joined by Eric Carlson, who brings over 13 years of experience from commercial banking to the advisory landscape.

A Tailored Approach to Financial Planning

The duo has focused on offering comprehensive financial planning and investment management services. Their unique approach is particularly beneficial for individuals in the farming and ranching communities and business owners with a passion for outdoor activities such as hunting and fishing. This personal touch in service delivery makes their client interactions meaningful and relatable.

Client Relationships and Financial Freedom

Michael Elsberry shares his passion for working with clients who appreciate outdoor activities, stating, "It’s been rewarding to cultivate meaningful relationships with clients over the years as they pursue their version of financial freedom." This holistic approach allows clients to reach their distinct financial objectives by employing customized strategies tailored to their individual needs.

Reasons Behind the Move to LPL Financial

Transitioning to LPL Financial offers Northern Plains Financial access to broader resources and innovative solutions. The team was drawn to LPL's commitment to exceptional client experiences and the emphasis on putting clients’ interests first. Elsberry remarked, "In our quest for a partner that mirrors our commitment to providing exceptional experiences, LPL emerged as the clear choice. We believe that LPL’s self-clearing platform and user-friendly online tools will greatly benefit our clients."

Efficiency and Speed in Client Services

Another driving factor in their decision was the desire for speed and efficiency in operations. The LPL platform promises quicker return times for critical tasks like account openings, and its consolidated features allow the advisory team to manage client investment portfolios more effectively. This enhancement will ultimately lead to a higher standard of service for their clients.

Support from LPL Financial Executive Team

Scott Posner, LPL Executive Vice President of Business Development, expressed enthusiasm for welcoming Northern Plains Financial into the LPL community. He emphasized that LPL's scale enables them to invest in innovative strategies and resources that empower advisors to deliver superior value to their clients.

About LPL Financial

LPL Financial Holdings Inc. is recognized as a leading firm within the financial services sector, serving over 23,000 financial advisors across approximately 1,000 institutions and around 580 registered investment advisor firms throughout the country. Their commitment to independence allows advisors the flexibility to tailor their services to best meet client needs. LPL emphasizes that the advisors should have the freedom to manage client relationships, ensuring that they can provide the best possible guidance.

Frequently Asked Questions

What services does Northern Plains Financial offer?

Northern Plains Financial provides a full spectrum of financial planning and investment management services, primarily serving the farming, ranching, and business communities.

Who are the key leaders at Northern Plains Financial?

Michael Elsberry and Eric Carlson lead Northern Plains Financial, bringing extensive experience in financial services and banking, respectively.

Why did Northern Plains Financial choose LPL Financial?

The firm sought LPL Financial for its extensive resources, commitment to client service, and innovative tools that enhance operational efficiencies.

How does LPL Financial support its advisors?

LPL Financial provides innovative capabilities and strategic resources that help advisors differentiate their businesses and add value to their services.

What advantages does LPL's self-clearing platform offer?

LPL's self-clearing platform streamlines processes, reduces return times for tasks like account openings, and simplifies investment management through consolidated client statements.

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