FOR IMMEDIATE RELEASE
Sheridan Road Financial Acquires Compass Benefit Partners
Northbrook, IL – December 7, 2016 – Sheridan Road Financial (“Sheridan Road” or the “Firm”) announced today that they had acquired Compass Benefit Partners, a leading institutional retirement plan consulting firm, based in Denver. The two principals of Compass, Mark Tonelli and Rob Johnson, will join Sheridan Road as Managing Directors and spearhead Sheridan Road’s continued expansion into the Denver market and more broadly, the Rocky Mountain region.
Mark Tonelli has more than 15 years of experience and consults with retirement plan sponsors in the private, non-profit and government area on Defined Contribution, Defined Benefit, and Non-Qualified Plans. As the Managing Partner at Compass Benefit Partners, he focused on assisting plan sponsors with plan design, investment management, and financial wellness initiatives. Previously, Mark spent more than 15 years in increasingly more varied roles at Fidelity Investments. He received his BS in Entrepreneurial and Small Business Operations from Northeastern University and attended Northwestern University Kellogg School of Management. Rob Johnson has more than 25 years of experience in financial and retirement planning, and has been involved with plan design assistance, communications, asset/liability modeling, investment reviews and all aspects of plan reporting, actuarial and compliance education. Before his role as a Managing Partner at Compass Benefit Partners, Rob was a senior consultant at Mercer. He received his BA in Mathematics from Queen’s University.
Daniel Bryant, Chief Executive Officer of Sheridan Road, commented, “We are extremely excited to continue our expansion into the Denver market. Compass was one of the leading institutional retirement consulting firms in the country with middle market clients across the country. Mark and Rob are a great cultural fit for us and feel passionately about bringing the entirety of our comprehensive consulting services to all of our clients. We look forward to heavily investing all of our resources in the market.”
Terms of the Transaction were not disclosed.
About Sheridan Road Financial
Headquartered in Chicago, Illinois, Sheridan Road Financial provides institutional investment consulting and private wealth management services to its clients. The Company has received a number of awards including being named the 2015 Retirement Plan Adviser Multi-office Team of the Year* by PLANSPONSOR Magazine as well as being named by Barron’s magazine as the #4 ranked Institutional Consultant for 2016**. The Company has offices in Chicago, Denver, Indianapolis, Louisville, Milwaukee, Minneapolis, Nashville, Northbrook and Tampa. For more information, please visit www.sheridanroad.com.
*PLANSPONSOR Magazine 2016 Retirement Plan Adviser Multi-Office Team of the Year award nominations are by industry professionals and selected based on quantitative evaluation of service levels and feedback from plan sponsor Retirement Professional Designation receive an automatic nomination.
**Barron’s 2016 award recognition is based on an evaluation of institutional investment assets overseen and revenue generated, number of clients, number of team members and designations and accomplishments.
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the retail financial advice market and served $502 billion in advisory and brokerage assets as of Sept. 30, 2016. LPL is one of the fastest growing RIA custodians and is the nation’s largest independent broker-dealer (based on total revenues, Financial Planning magazine June 1996-2016). The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 independent financial advisors and over 700 banks and credit unions, enabling them to help their clients turn life’s aspirations into financial realities.
Advisors associated with LPL also service an estimated 45,000 retirement plans with an estimated $120 billion in retirement plan assets, as of March 31, 2016. LPL also supports more than 4,000 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have more than 3,400 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.
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