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LPL Financial Welcomes Tennant Financial

1. Tennant Financial joins LPL, managing $1.3 billion in assets. 2. The team seeks greater independence and advanced technology from LPL. 3. LPL supports over 29,000 advisors, boosting growth opportunities. 4. The collaboration enhances LPL's capabilities in wealth management services.

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FAQ

Why Bullish?

The addition of Tennant Financial enhances LPL's asset base and market reach, similar to past successful integrations.

How important is it?

Positive team transitions contribute significantly to LPL's growth in a competitive market.

Why Short Term?

The immediate impact of new assets may boost LPLA's valuation but long-term success depends on performance.

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NDAQ: NWL
September 25, 2025 08:55 ET  | Source: LPL Financial Holdings, Inc. SAN DIEGO, Sept. 25, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that the partners of Tennant Financial have joined LPL Financial’s broker-dealer and Registered Investment Advisor (RIA) platform. They reported serving approximately $1.3 billion in advisory, brokerage and retirement plan assets* and join LPL from Northwestern Mutual. Based in Ballston Lake, near Saratoga Springs, N.Y., the team led by Steven Tennant, CFP®, Jeremy Berry, CPA and Ryan Wade, MBA, CFA®, provides financial services to clients throughout New England and nationwide. The three have collaborated since 2000 and together have 75 years of financial services and investment planning experience. The team primarily serves high-net-worth families, corporate executives, business owners, and medical professionals, as well as individuals navigating life transitions. Their holistic approach to financial services integrates retirement, investments, income and estate taxes, and charitable giving, creating a seamless strategy that supports clients across generations. “We make it a priority to truly understand our clients—their ambitions, their challenges and what they hope to achieve,” said Tennant. “From there, we craft personalized strategies and clear roadmaps designed for long-term success. By coordinating with all relevant stakeholders and fiduciaries, our team ensures a seamless progression toward our clients’ financial goals. In many ways, we serve as a personal CFO for the families and businesses we support, bringing structure and harmony where there was once complexity. This comprehensive, client-centered approach is what sets us apart from other firms.” Why Tennant Financial Chose LPL Seeking greater independence, flexibility, and access to advanced technology for their clients, the team, which also includes Nancy Monroe, Jason Blair, Stephanie Van Grinsven, Kat Herdzik, Lisa Skiba, Karen Scinto, Jenna Medina Badgley and Whitney Walker, joined LPL. “Our research and planning process, combined with and LPL’s technology and integration capabilities, were key factors in our decision. The technological landscape has advanced so quickly in the last five years, and we’re excited to bring that to bear for our clients and team,” said Berry. “We are on the cusp of significant change fueled by AI and the impact it will have on our abilities as advisors to provide the best service possible for our clients. By making this change today, it puts us in a position to continue to meet the needs of our clients as well as better support our team, both of which are critical to our current and future success.” Scott Posner, Managing Director, Business Development, said, “I’d like to extend a warm welcome to Tennant Financial. As a leading wealth management firm, LPL is committed to delivering innovative technology and comprehensive business solutions to help advisors differentiate their practices and increase value for their clients. We look forward to supporting the team as they start this new chapter of their business.” Related Advisors, learn how LPL Financial can help take your business to the next level. 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 over 29,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $1.9 trillion in brokerage and advisory assets on behalf of approximately 7 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. Figures provided as of June 30, 2025. For further information about LPL, please visit www.lpl.com. Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Tennant Financial and LPL Financial 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. We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website. *Value approximated based on asset and holding details provided to LPL from end of year, 2024. Media Contact: Media.relations@LPLFinancial.com  Tracking #798882

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