Based in Minnetonka, Minnesota, 360 Financial provides a comprehensive offering of investment management and financial planning services, primarily on a fee basis, for retail clients and for qualified and nonqualified employer-sponsored retirement plans.
Led by founder and president Mike Rogers, 360 Financial employs four advisers overseeing approximately $120 million in retirement plan assets. The firm also manages about $150 million in private wealth client assets.
The firm’s private client wealth management business serves a mass affluent and high-net-worth retail investor base, largely in the Minnesota region. Its retirement planning services, for defined benefit and defined contribution plans, targets a range of business sizes, from small and mid-size clients to large professional services firms.
Bill Morrissey, executive vice president of business development at LPL Financial, says the agreement will bring LPL’s array of products and practice management support services to 360 Financial. He hopes the move will also enable both firms to attract new independent advisers to join the independent RIA advisor group.
“Our ability to assist such entities to grow and thrive is an important component of the total LPL service offering,” say Morrissey.
Rogers says that LPL will serve as a key partner for 360 Financial as it strives to become a full-service, back- and middle-office services provider for independent financial advisers seeking to establish or grow their own practices.