From Captive Wirehouse to Flexible Independence, Richard Dragotta celebrates 10 years of Unified Independence and success.
Paramus, NJ -- (ReleaseWire) -- 03/19/2013 --Richard Dragotta, Branch Manager of “The Paramus Branch” is proud to celebrate the 10th year with LPL Financial. Having founded the branch a decade ago, Dragotta left the wirehouse model he knew and loved for his first 10 years in the industry and ventured to the mysterious, obscure and unknown model of the independent platform of that time. “A decade sure goes fast when you’re having fun. As a manager and an advisor at some of the largest wirehouses on Wall Street I felt a crack in the dam. Culturally things seemed to be changing for the industry and for many firms, so I went with my gut and took a chance. I guessed right not just on the future of the industry but finding a great partner in LPL Financial” says Dragotta.
Indeed guessing right and being early has positioned Dragotta as one of the largest network of advisor groups at LPL Financial as his network includes over 75 advisors and branches predominately in the tri-state area. “We congratulate Rich on his 10th anniversary at LPL Financial and look forward to continuing to support him as a valued client, says Derek Bruton Managing Director and National Sales Manager for LPL Financial”
During a decade of consolidation and mergers on Wall Street, Dragotta created AdvisorSource? which he trademarked to define his local outsourcing solutions which include turnkey expertise in transitioning advisors to the independent model. “I wanted to help liberate other advisors like me that were not just interested in a higher payout but wanted a better quality of life as well as the desire to provide conflict free objective advice without a corporate agenda. Even though we are independent from each other we share a common unity, camaraderie and many economies of scale. As the great Yogi Berra might say, let’s be independent together” says Dragotta.
“I have been fortunate in aligning and partnering with other great advisors and building a dedicated, experienced and professional staff team to implement and execute my vision,” he added. “ I am looking forward to the next decade and again I think I am early in expanding my model towards the what I believe is the future progression of this independent model; hopefully it will work out…..you got to go with your gut”.
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine, June 1996-2012), a top RIA custodian, and a leading independent consultant to retirement plans. LPL Financial offers integrated technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to over 13,300 financial advisors and approximately 700 financial institutions. In addition, LPL Financial supports over 4,500 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have approximately 2,900 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.