Exciting Changes Underway For Our Practice
We are pleased to share several meaningful updates about our practice, changes that reflect both our commitment to you and our optimism about what lies ahead.
One of the most exciting updates is the addition of Jonathan Caplan to the practice earlier this year. Many of you already know Jon, as he prefers to be called, as Cliff's son, and many of you have already had the opportunity to meet him during your recent reviews. The response has been overwhelmingly positive.
Jon brings more than a decade of financial services experience to the practice, along with the CERTIFIED FINANCIAL PLANNER® designation, which reflects a rigorous standard of education, examination, and ethical commitment. He spent the earliest part of his career supporting advisors at two different practices and, most recently, enrolling and managing new clients directly. He brings with him a knowledge of financial planning, investment management, and client service. Beyond his credentials, he brings energy, genuine curiosity, and a natural ability to connect with clients across generations.
Within the coming year, our intention is for all clients to develop a relationship with Jon as part of their ongoing experience working with us. We want to be clear: Cliff has no plans to step back. He will continue to oversee all client assets and remain fully available for both reviews and consultations. What this means in practice is that you will benefit from both Cliff and Jon working on your behalf.
One area where Jon’s presence will have particular impact is with the next generation: your children, grandchildren, and other family members who may benefit from the same level of guidance and care you have received over the years.
One of the most meaningful enhancements we are introducing is a full, comprehensive financial planning service, available at no additional cost to all clients and their family members. This is far more than an investment review. A complete financial plan takes a thorough look at where you are today and where you want to be, incorporating retirement income projections, education planning for children or grandchildren, estate planning considerations, and an analysis of how all of the moving parts of your financial life fit together. The goal is a clear, actionable picture of your path forward and the steps needed to get there.
While we will be offering this planning service to you during our reviews, please do not hesitate to reach out earlier if you wish to begin the process now. If you have family members or close friends who do not yet have a formal financial plan in place and could benefit from this kind of analysis, we are happy to extend this service to them as well.
We also have another exciting announcement: by no later than the end of this summer, the practice will officially be renamed Caplan Wealth Partners. When Cliff launched Neponset Valley Financial Partners in February of 1999, it was common for advisory practices to incorporate a geographic name to signal their local roots. Over the past 27 years, however, our practice has grown well beyond the region, and we now serve clients in more than 20 states and overseas. Quite simply, geography no longer reflects the full picture of who we are or who we serve.
The name Caplan Wealth Partners connotes the personal nature of the relationships we have built with clients, many spanning 40 years or more, and the commitment that our entire team shares to treating every client as a true partner. It also honors the continuity of what this practice has always stood for, while signaling the next chapter.
As we have previously shared, Commonwealth Financial Network, our broker-dealer partner of more than 40 years, was acquired by LPL Financial last August. While Commonwealth has been an exceptional partner throughout that time, we are genuinely excited about what this transition means for our clients going forward. LPL is one of the largest independent broker-dealers in the country, investing approximately $500 million per year in technology and infrastructure.
The transition is currently underway and is expected to be completed by mid-November of this year. All investment accounts currently held at National Financial Services (NFS) will be migrated to LPL at that time. For the vast majority of clients, no action will be required on your part. We will communicate directly with anyone for whom any steps are needed. All accounts, agreements, and contact information will remain the same during the transition, and we will keep you informed as the transition nears completion.
As you can see, several significant and positive changes are underway at once, and we could not be more optimistic about what they mean for our clients. Jon joining the practice, the expansion of our planning services, the new name, and our enhanced technology platform all point in the same direction: a stronger, more capable practice that serves the relationships we value most.
As always, if you have any questions about any of the above, or simply want to connect, please do not hesitate to reach out. And if you know someone who might benefit from the kind of thoughtful, personalized guidance we provide, we would be honored by the introduction.
With gratitude,
Clifford Caplan, CFP®, AIF® Jonathan Caplan, CFP®