Vipshop Holdings Ltd
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Consumer Discretionary : Internet & Direct Marketing Retail |
Based in China
Company profile

Vipshop Holdings Limited is a holding company. The Company is an online discount retailer for brands in China. The Company offers branded products to consumers in China through flash sales mainly on its vip.com Website. The Company's segment is sales, product distribution and offering of goods on its online platforms. The Company conducts its business through its subsidiaries and consolidated affiliated entities in China. Through its flash sales model, the Company sells limited quantities of discounted branded products online for limited periods of time. The Company offers diversified product offerings from over 17,000 domestic and international brands, including apparel for women, men and children, fashion goods, cosmetics, home goods and other lifestyle products. The Company offers a range of products and services for consumers through lefeng.com, specializing in branded cosmetics, apparel, healthcare products, food and other consumer products.

This security is an American depositary receipt
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Postmarket

Last Trade
Delayed
$16.50
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$16.50
Day's Change
0.52 (3.25%)
Bid
--
Ask
--
B/A Size
--
Day's High
17.20
Day's Low
15.82
Volume
(Heavy Day)
Volume:
11,091,506

10-day average volume:
8,212,738
11,091,506

Claritas Financial Partners Launches With Support of LPL Strategic Wealth Services

9:00 am ET May 18, 2020 (Globe Newswire) Print

LPL Financial LLC, a leading retail investment advisory firm, RIA custodian and independent broker-dealer, today announced that financial advisors Brian Lynn CFP, John Fessler and Jim Pacheco have teamed up to launch Claritas Financial Partners in Marlton, N.J., with support from LPL Strategic Wealth Services, a new affiliation model designed to support the unique needs of established wirehouse- or employee channel-based advisors seeking independence. The team will leverage LPL's broker-dealer, corporate registered investment advisor (RIA) and custodial platforms, while also receiving ongoing business management services and support from the firm. The team reported having served approximately $305 million in brokerage, advisory and retirement plan assets*. They join from Wells Fargo Advisors.

In college, Lynn dreamed of being a financial advisor and even envisioned having his own firm one day. Pacheco has been in the industry nearly 30 years and is passionate about serving his clients as an advisor and serving the community as an active firefighter, having served as Battalion Chief for two years and Deputy Chief for another two years. Fessler, an avid long-distance runner, has known no other career since graduating from college. All three became colleagues at their previous firm, working in neighboring towns around South Jersey while developing a friendship. "We've become a tight group, and through a series of discussions, we decided we could create a better client experience and expand our offerings if we come together as a team to offer objective financial advice," said Lynn, managing partner.

The practice's name came to Lynn one evening while he was helping his son study for a high school Latin test. In Latin, Claritas means clarity and brightness. "That was the perfect analogy for what we are building as a company. Our mission is to bring clarity to the financial lives of our clients," Lynn said. They use a team approach to help clients with a wide variety of needs as they maneuver through the complex financial services world. Lynn added, "We believe it has far-reaching benefits for our clients to get opinions from several sources with diverse backgrounds, education and experience."

They chose to partner with LPL Strategic Wealth Services because of the combination of innovative technology and the ongoing business management support, as well as the transparency they can provide operating a fee-based model. The advisors also appreciate that the breakaway solution removes the constraints of bureaucracy, allowing them to serve their clients and grow the business as they see fit.

"It's a perfect match for the vision we had for our practice," Lynn said. "The LPL platform really places clients first and allows us to give back to the community. Everything we did as part of this move and every decision we made was with our own clients in mind. When someone walks through the door at Claritas, we want them to know the whole company works for them."

Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, said, "We welcome Brian, John and Jim to the LPL family and congratulate each of them on taking this step in their careers. Launching a business is a big decision, and it is admirable that this team chose to do that out of a desire to do more for their clients. As their partner, we are dedicated to helping them fulfill that commitment to their clients. Long after the sign goes up on their new office, the LPL team will be standing behind them, providing the business management services and support that can help them run the business day to day, along with the leading independent platform to power their business. We look forward to a long-lasting, productive and exciting journey ahead with the Claritas Financial team."

For more on Claritas Financial Group, visit their website. Read about other firms that recently joined LPL in the LPL Financial News and Media section of LPL.com.

Advisors, find an LPL business development representative near you.

About LPL Financial

LPL Financial (https://www.lpl.com) is a leader in the retail financial advice market and the nation's largest independent broker-dealer**. We serve independent financial advisors, professionals, and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.

Securities and Advisory services offered through LPL Financial LLC, a registered investment advisor. Member FINRA / SIPC.

Claritas Financial Partners and LPL Financial are separate entities.

*Based on prior business and represents assets that would have been custodied at LPL Financial, rather than third-party custodians. Reported assets and client numbers have not been independently and fully verified by LPL Financial.

**Based on total revenues, Financial Planning magazine June 1996-2019

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Lauren Hoyt-Williams

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Lauren.Hoyt-Williams@lpl.com

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