SAN DIEGO, Dec. 09, 2024 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisor Francisco J. Blanco has joined LPL Financial’s broker-dealer, RIA and custodial platforms. Blanco reported having approximately $200 million in advisory, brokerage and retirement plan assets* and joins from JP Morgan Chase.

With the move, Blanco merged with existing firm Stonebrook Wealth Management, founded in 2019 by fellow JP Morgan veteran Joe Mazzucco. The merger results in the formation of Stonebrook Wealth Partners.

Based in Fort Lauderdale, FL., Blanco provides tailored financial planning and investment strategies to his clients and specializes in areas such as retirement planning, tax-efficient investing and estate investment planning. His approach is centered around building lasting relationships, understanding each client’s unique goals and developing personalized solutions that align with their long-term objectives. Often leveraging his extensive network of professionals for the benefit of his clients, Blanco is fully committed to intentionally helping his clients navigate their entire financial journey with confidence and transparency.

“I became an independent financial advisor to remove the glass ceiling,” said Blanco. “I believe the best way to offer financial guidance is to be free of corporate mandates, sales quotas and limitations. LPL is in the business of supporting independent advisors and provides the technology, autonomy and resources that Stonebrook needs to deliver the best possible experience to my clients.”

New partnership and new firm name

After 12 years in financial services, Blanco decided to tap into his entrepreneurial side by partnering with Mazzucco and LPL for the next chapter of his career.

“The deeply personal and important decision to merge with Joe followed a year-long due diligence process,” Blanco said. “Together, our shared mission is rooted in the belief that personalized and independent financial advice is a fundamental need for everyone, and we are passionate about building a firm where both clients and colleagues feel a part of something special.”

“I am thrilled to join forces with Francisco,” Mazzucco said. “He is a high-caliber and experienced financial advisor with a passion for helping others. He is dedicated to his craft and will be a great resource to our firm as we build out our team and service experiences.”

Stonebrook Wealth Partners offers financial guidance, fiduciary investment management and retirement planning services to individuals, families and businesses with no sales goals, no proprietary products and the flexibility to work with many of the world’s largest and most respected asset managers. In addition to serving clients, Stonebrook looks forward to being the partner of choice for other financial advisors by offering turn-key business support including administrative staff, operational resources, marketing, transition consulting, office space and more.

Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome Francisco to LPL and congratulate him on his move to independence. I’d also like to congratulate Joe on Stonebrook’s continued growth and success. As their strategic partner, we are committed to delivering the support they need to help them run their business seamlessly and add value to their clients. We look forward to supporting Stonebrook Wealth Partners for many years to come.”

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About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 28,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.7 trillion in brokerage and advisory assets on behalf of 6 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.

Securities and advisory services offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). LPL Financial and its affiliated companies provide financial services only from the United States. Stonebrook Wealth Partners and LPL are separate entities.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

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*Value approximated based on asset and holding details provided to LPL from end of year, 2023.

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