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Michael Tormey

LPL Financial LLC
36 Years of Experience
Basking Ridge, NJ
2 DisclosuresBroker
View SEC Summary
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Michael Tormey is a registered investment advisor at LPL Financial LLC, based in Basking Ridge, NJ, with 36 years of industry experience. Michael is also registered as a broker, so some compensation may come from commissions on products sold. Their practice areas include Investment Management, Retirement Planning. Their firm serves 1,986,990 clients with $820B in assets under management.

LPL Financial LLC
Compensation
Fee-Only (% of Portfolio)Fixed/Hourly
Firm Size
28221 advisors
Number of Clients
1,986,990 clients
Average Client Portfolio
$412K average
Assets Under Management
$819.1B

Fee Structure

Minimum Investment:$1K
Investment management only (planning not offered)
Portfolio-Based Fees (Flat)
Portfolio ValueAnnual Fee
Any2.50%

The maximum account fee is 2.50% and is negotiable between the client and the advisor. Fees are based on total assets in the account and payable quarterly in advance.

Fee Estimator
Your Portfolio Value
$500K
$0$500K$1M$5M$20M
Estimated Annual Fee
—
View Full SEC Brochure

Location

73 Mountainview Blvd, Basking Ridge, NJ, 07920

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History

Regulatory History (2)
What are disclosures? Advisors must report customer complaints, regulatory actions, and certain legal or financial events to the SEC. Not all disclosures are serious—many are settled disputes or minor violations. Learn how to evaluate them.
Financial
March 2020
Final
Financial
November 2019
Final
View Full SEC ReportHow to Read Disclosures
Other Business Activities

Michael operates Affinity Investment Services as a DBA for his LPL business. He also works as a driver for Lyft and Uber, dedicating about 10-20% of his time to each activity.

Employment History
Current Registrations
LPL Financial LLCBroker
April 2023 - Present · 3 yrs 6 mos
LPL Financial LLC
April 2023 - Present · 3 yrs 6 mos
LPL Financial LLC
April 2023 - Present · 3 yrs 6 mos
Previous Registrations
Raymond James Financial Services Advisors, INC
February 2022 - April 2023 · 1 yr 2 mos
Raymond James Financial Services, INC.Broker
February 2022 - April 2023 · 1 yr 2 mos
Santander Securities
March 2016 - January 2022 · 5 yrs 10 mos
Santander Securities LLCBroker
March 2016 - January 2022 · 5 yrs 10 mos
Park Avenue Securities LLC
July 2012 - March 2016 · 3 yrs 8 mos
Park Avenue Securities LLCBroker
June 2012 - March 2016 · 3 yrs 9 mos
AXA Advisors, LLC
February 2008 - June 2012 · 4 yrs 4 mos
AXA Advisors, LLCBroker
January 2008 - June 2012 · 4 yrs 5 mos
Tradition Asiel Securities INC.Broker
May 1996 - August 2007 · 11 yrs 3 mos
Liberty BrokersBroker
October 1995 - May 1996 · 7 mos
Patriot Securities, INC.Broker
November 1994 - May 1996 · 1 yr 6 mos
R.J. Kross Assoc. LTD.Broker
July 1993 - October 1994 · 1 yr 3 mos
Daiwa Securities America INC.Broker
November 1986 - May 1990 · 3 yrs 6 mos
State Registrations11 states
AZDCFLGAMDNCNJNYPATXWA
AdvisorBrokerBoth

You can work with an advisor not registered in your state. Most advisors can legally serve a small number of clients across state lines without registering.

Exams
No exam information available for this advisor.
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