Fort Mill, SC. – August 26, 2020 – Financial Resources Group Investment Services, LLC (Financial Resources Group) is celebrating its 10th anniversary this month as a company dedicated to helping financial advisors and financial institutions grow their businesses. Over the past decade, the company has grown to support over 87 financial institutions and over 1,000 financial professionals nationwide.
President Bruce Miller founded the company with a seven-person leadership team and approximately 140 registered advisors.
“In the early days, our mission was to support employee advisors on the LPL Financial Platform,” said Miller. “By the second year we expanded to serve the full range of LPL affiliation models – independent advisors, and financial professionals employed by their financial institution.”
Miller’s decision to start the company during a recession came with some concern, but he remained focused on the potential for growth.
“Starting a financial services company two years into one of the worst recessions in U.S. history was in one sense scary, but in another, a great opportunity to grow and expand.” said Miller.
The company’s vision was to provide high touch business consulting support to their financial professionals and financial institutions; and to assist them in building, retaining, and enhancing long term relationships with their clients. At the end of the first year, the company had $6.6 billion in client assets under advisement and 20 financial institutions partners, 14 of which are still with them today: 360 Federal Credit Union, Advancial Federal Credit Union, American Eagle Financial Credit Union, Eastman Credit Union (ECU), Firstar Bank, Hawaii Community Federal Credit Union, International Bank of Commerce (IBC), Northrop Grumman, PyraMax Bank, San Diego County Credit Union, Sikorsky Credit Union, Southland Credit Union, Sterling National Bank, and TruMark Financial Credit Union.
IBC Executive Vice President Gerald Schwebel stated, “During the past 10 years, we have seen our Texas LPL assets grow over 250 percent while retaining almost 100 percent of our core team of financial professionals.”
IBC was not the only financial institution to see the positive impact Financial Resources Group had on their organization.
“Over the last 10 years, Eastman Credit Union’s partnership with Financial Resources Group has helped deliver the high level of service that our members expect from us.” said Debra Bridwell, senior vice president of marketing and facilities at ECU.
Fidelity Bank who joined Financial Resources Group in March 2011, has seen significant growth as a result of their partnership.
“The services provided by Financial Resources Group and LPL Financial have proven to be an ideal complement to Fidelity Bank’s financial offerings,” said Matt White, regional executive of Fidelity Bank. “Over the past decade, their holistic approach has made it possible for us to triple our assets under management and increase our net revenue from nearly $275,000 to over $715,000. We are thankful to have a partner as dedicated to delivering ‘Right By You’ service as we are.”
Additionally, AVP of Investment Services at UW Credit Union, Teo Trandafir, is also grateful for their partnership since joining in 2012.
“Financial Resources Group has been a trusted partner to Investment Services at UW Credit Union,” said Trandafir. “Their support has been a true catalyst to our growth. We congratulate them on their 10-year anniversary and wish the company continued success in the future.”
Today, approximately half of the company’s financial professionals are associated with financial institutions and half are independent businesses.
“I am so thankful that my friend Clay Blair introduced me to Financial Resources Group,” said independent advisor Bentley Beard of Discovery Partners Investment Center. “It is great to know I have an advocate like Bruce Miller in my corner. The Financial Resources Group team makes our job helping clients a little easier.”
In April of 2020, Financial Resources Group and Gladstone Wealth Group entered into a strategic merger creating one of the largest enterprises by revenue and assets on the LPL Financial Corporate RIA platform. Today, Financial Resources Group has grown to over $24 billion in brokerage and advisory assets and over $141 million in revenue.
With the addition of the Gladstone leadership group and the strength of LPL Financial, Financial Resources Group is well positioned for the future.
“Our goal is to double the number of financial professionals and assets in the next five years.” said Miller
