Two Successful LPL Advisors Merge Bay Area Practices

John L. (Jack) Hillis, founder of Hillis Financial Services, announced today that his firm merged with Danville, Calif.-based CalBay Investments, Inc. (CBI), effective June 13, 2017. The two firms are affiliated with LPL Financial, the nation’s largest independent broker/dealer.

The union of Hillis Financial Services and CalBay Investments brings together two of the top performing LPL advisors in the San Francisco Bay Area. The joining of two complementary firm cultures and practice strengths will enable both to provide additional client benefits and more sophisticated services. Combined, the new firm will manage $875 million of client brokerage and advisory assets with offices in San Jose, Santa Clara and Danville.

“Mike and I have known each other for more than 40 years, and we share a passion for client service with the belief that we have an obligation to serve our clients’ best interests at all times,” said Hillis. “We also operate similar business models and align on our core investment philosophies. By bringing together the complementary strengths of our two firms, we can increase our scale and depth of expertise to offer more value to our clients today and into the future.”

“Our firm is excited to align with Hillis Financial Services and create a robust practice that can deliver a broad range of services to our clients,” said Mike Allard, CBI founder. “Jack and I both take a financial planning approach to serving our clients to deliver greater value and help clients work toward better outcomes. Our combined experience, along with the ability to deliver investment solutions that suit each client’s unique financial goals, creates a powerful combination to best support our clients.”

Hillis founded his firm, which includes two additional advisors and two office support staff, in 2001. Overall, he has more than 40 years of experience providing financial planning and asset management advice to individuals, corporate executives and business owners. He is a top performing LPL advisor, having been named among the top two percent of LPL advisors nationwide from 2006 to 2016. He will continue to operate from his office in San Jose.

Allard has been a practicing financial planner since 1990 and is an LPL Executive Council member, ranked among the top 10 independent advisors at LPL in 2016. The firm, which includes seven support staff, will maintain its offices in Danville and Santa Clara.

About Hillis Financial Services

Hillis Financial Services is an independent, personal wealth planning firm focused on managing the “irreplaceable assets” of its clients, families and individuals, many of whom are small business owners. The firm uses a conservative approach to its proactive client portfolio management, believing that managing downside risk can be more important in today’s economy than seeking upside growth. As independent representatives of LPL Financial, the financial professionals at Hillis Financial Services, primarily provide objective fee-based advice and services including personal financial, retirement, education, tax and estate planning; long-term care, charitable giving as well as risk management. The financial professionals build customized asset allocation portfolios of stocks, bonds and alternative investments for their clients. The team has more than 70 years collective experience in managing portfolios, and many clients have been with the firm’s advisors for more than 30 years. The firm is based in San Jose. For more information, please visit www.hillisfinancial.com.

About CalBay Investments Inc.

CalBay Investments Inc. is an independent, wealth management firm focused on providing comprehensive strategies for individuals, families and businesses in Northern California’s East and South Bay Areas. CBI believes that having the ability to provide independent and experienced advice is the first and foremost ingredient to helping to ensure the success of both clients and the firm. As independent representatives of LPL Financial, the financial professionals at CBI provide objective fee-based advice and services. With a focus on retirement and income planning, CBI also provides comprehensive financial planning, tax strategies, education planning and value-added services. Many of its clients have been members of the CBI family for more than 20 years and the firm is pleased to welcome future generations to the CBI family. The firm has offices in Danville and Santa Clara. For more information, please visit www.calbayinvestments.com.

About LPL Financial

LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), is a leader in the financial advice market and provided service to $550 billion in advisory and brokerage assets as of July 31, 2017. 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 1996-2017). 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 financial institutions, enabling them to help their clients turn life's aspirations into financial realities. Advisors associated with LPL also serviced an estimated 46,000 retirement plans with an estimated $138 billion in retirement plan assets, as of June 30, 2017. LPL also support approximately 4,000 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,400 employees with primary offices in Boston, Fort Mill, and San Diego. For more information, please visit www.lpl.com.

The Financial Consultants of CalBay Investments and Hillis Financial Services are also Registered Representatives with and securities and advisory services are offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.