BankNewport Announces OceanPoint Investment Solutions
NEWPORT, RI (January 7, 2020) – BankNewport announced today that it now has a relationship with LPL Financial, the nation’s largest independent broker/dealer*, to provide comprehensive financial and investment advisory services. The announcement marks the formation of OceanPoint Investment Solutions that will enhance offerings within BankNewport.
Through its relationship with LPL Financial, the Bank will have the strategic support to provide access to a broad range of competitive fee-based investment advisory services to customers, in addition to access to industry-leading, independent investment research and tools, resources and technology that includes an online self-guided Wealth Portal.
“Our new affiliation with LPL Financial is an excellent fit for BankNewport and for our customers,” stated BankNewport President and CEO, Sandra J. Pattie. “The offering is truly relationship focused and is a natural extension of the Bank’s mission. OceanPoint Investment Solutions’ financial advisors will provide trusted investment advisory services solely on what they believe is appropriate for each client, further deepening our customer relationships.”
With the announcement, the Bank is proud to introduce Donald M. Hartley, an LPL Financial Advisor with over 16 years of extensive investment services experience. Don was previously a Financial Advisor with Edwards Jones in the Southcoast market of Massachusetts. Hartley will provide investment advisory to BankNewport and OceanPoint Insurance customers through referrals from the Bank’s statewide branch and sales network, in addition to his considerable client base.
Joining Don Hartley as a member of the OceanPoint Investment Solutions team will be Sheri Hendricks. After serving in the United States Marine Corps, Sheri began her career in the legal and financial services industry over 15 years ago, specializing in investing and saving for Retirement, Tax Efficiency, Estate Planning, and Trusts, as well as advanced Insurance Strategies.
“We are pleased to have Don and Sheri join our team,” continued President Pattie. “Their experience in all facets of asset and portfolio management, along with their commitment to offering personal service and trusted guidance will truly serve the best interests of our customers.”
As employees of LPL Financial, Hartley will maintain a registered license at BankNewport’s Portsmouth branch at 2628 East Main Road, and Hendricks will maintain a registered license at BankNewport’s East Greenwich branch at 1000 Division Street. The Bank’s future strategy includes the expansion of OceanPoint Investment Solutions through growing its team of financial advisors.
For more information about OceanPoint Investment Solutions, please contact (401) 845-8797.
Founded in 1819 and headquartered in Newport, BankNewport offers a full suite of loan and deposit products and services for families and businesses throughout Rhode Island. With $1.7 billion in assets, BankNewport is one of the oldest community banks in the United States and, as a mutual organization, is committed to the financial success of its customers, employees and communities. BankNewport has 18 branch locations, with commercial lending offices in Cumberland and Providence.
BankNewport business lines include OceanPoint Marine Lending, specializing in consumer marine and recreational vehicle financing programs, and OceanPoint Insurance, a Trusted Choice independent insurance agency, providing a broad range of property casualty insurance products, including financial services and marine related insurance products.
Through a relationship with LPL Financial, a leader in the retail financial advice market, BankNewport is able to enhance its offerings with OceanPoint Investment Solutions.
*Based on total revenues, Financial Planning magazine June 1996-2019
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. BankNewport and OceanPoint Investment Solutions are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using OceanPoint Investment Solutions, and may also be employees of BankNewport. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, BankNewport or OceanPoint Investment Solutions. Securities and insurance offered through LPL or its affiliates are: