Logansport, Indiana — March, 8, 2018 – David J. Workman, an independent financial advisor at Workman & Associates in Logansport, Indiana, was recently recognized by Forbes as one of the 2018 Best-In-State Wealth Advisors.

According to Forbes, advisors selected for the inaugural list were assessed on a variety of criteria, including years of experience, community involvement and client retention data*.


“This is a huge accomplishment,” said Andy Kalbaugh, LPL managing director and divisional president, National Sales and Consulting. “It takes a tremendous amount of dedication and experience to achieve this level in our industry. Dave has committed to his role in supporting his clients’ financial lives and is a great example of the value the independent model has to grow successful businesses. We are proud to be an enabling partner to Dave and wish him continued success.”

David Workman has been providing financial services to more than 2,000 clients in Northcentral Indiana for 30 years. Mr. Workman provides assistance with a full range of financial services, including retirement and financial planning, individual money management, individual stocks and bonds, mutual funds, traditional and Roth IRAs, annuities, estate planning, life insurance, long-term care insurance, 529 college savings plans, and more.

David Workman is an LPL Financial advisor. LPL is the nation’s largest independent broker-dealer** and a leader in the retail financial advice market, providing resources, tools and technology that support advisors in their work to enrich their clients’ financial lives.

*The Forbes Best-In-State Wealth Advisor ranking, developed by SHOOK Research, is based on in-person and telephone due diligence meetings and a ranking algorithm that includes: client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including: assets under management and revenue generated for their firms. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK Research receives a fee in exchange for rankings.

About LPL Financial
LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker/dealer**. We serve independent financial advisors 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. / NASDAQ: LPLA
**Based on total revenues, Financial Planning magazine, June 1996-2017
LPL Financial, Forbes magazine and SHOOK Research are separate entities.
Securities offered through LPL Financial, member of FINRA/SIPC



Thanksgiving Basket Drawing


thanksgiving card 2017

Dear Clients:

I’ve enjoyed working with you and your family over the years. I hope you feel the financial guidance I’ve provided has been valuable.

Do you know friends, relatives, or co-workers who:

  • want to be financially comfortable in retirement?
  • are unhappy with their current investment results?
  • have complained about the taxes they pay each year?
  • have left, or are leaving, a company and have to make decisions regarding retirement plan distributions?
  • have a financial advisor who has retired?
  • would like timely advice from a financial advisor?
  • would like a “second opinion” regarding their investment plans?

If you know anyone who could use our services, please send us their names.  Simply email Sharon at before November 21st  with the name, phone number, and address of your referral.  You can be assured that our conversations will be kept in the strictest confidence. I would simply mail an introductory letter to the contacts you provide me, letting them know you have given me their names.

If you provide us a referral, we will enter your name into our drawing for a Thanksgiving Feast Basket from Kuns Kountry Kitchen filled with homemade goodies which includes a pumpkin pie!

Thank you for the continued opportunity to serve your investment needs.


David J. Workman, AIF®

LPL Registered Principal

LPL Financial And Its Advisors Rank First In Customer Loyalty In New Study By Cogent Reports

LPL Financial is proud to announce that the firm and its advisors have been ranked No. 1 in net customer loyalty among 24 leading financial distributor firms, according to findings from Investor Brandscape®, a Cogent Reports™ study released by Market Strategies International.

CHARLOTTE, N.C. –  Feb. 28, 2017 –  LPL Financial is proud to announce that the firm and its advisors have been ranked No. 1 in net customer loyalty among 24 leading financial distributor firms, according to findings from Investor Brandscape®, a Cogent Reports™ study released by Market Strategies International. LPL earned a Net Promoter® Score[1] (NPSSM) of 70, 25 points higher than the No. 2 firm and was the only firm identified as a “star” by Cogent. LPL’s NPS was also 49 points higher than the average score of 21 for all firms.

Cogent’s study explored 10 key drivers of investor loyalty. LPL ranked among the top five in seven of the 10 driver areas, including three No. 1 rankings. According to the study, LPL Financial ranked:

  • No. 1 in quality of investment advice;
  • No. 1 in financial stability;
  • No. 1 in satisfaction of fees and expenses;
  • No. 3 in retirement planning services;
  • No. 3 in quality and clarity of statements;
  • No. 4 in range of investment products and services; and
  • No. 4 in easy to do business with.

“We’re proud and humbled by this great recognition of LPL and, more importantly, our 14,000 advisors who every day offer objective financial guidance to help American investors work toward their financial goals,” said Andy Kalbaugh, managing director and divisional president, LPL Financial. “This study underscores the value of LPL’s independent business model – and our innovative, industry-leading products and services – which put the advisor at the heart of the investor relationship.”

According to Cogent, the aspects of “financial stability” and “easy to do business with” are the two leading drivers of investors’ satisfaction with their primary distributor firm. The third most important overall driver of satisfaction is “quality of investment advice,” which has the potential to negatively impact client satisfaction much more so than strengthening client relationships.

Cogent measures customer loyalty based on NPS and the “intent to recommend the firm to friends and family.” Loyalty is measured on a scale from 0 to 10, with 0 being “definitely not recommend” and 10 being “definitely recommend.” Respondents giving scores of 0-6 are deemed “detractors” while respondents giving scores of 9-10 are classified as “promoters.” The loyalty score reflects the percentage of a firm’s clients who are supporters versus detractors.

About the Investor Brandscape® Report

Cogent Reports conducted an online survey with 3,910 affluent investors who were recruited from the Research Now and SSI online panels from June to August of 2016. In order to qualify, respondents were required to have at least $100,000 in investable assets and have sole or shared household financial decision-making responsibilities. Due to their opt-in nature, the online panels (like most others) do not yield a random probability sample of the target population. Thus, target quotas and weighting are set around key demographic variables using the most recent data available from the US Census Bureau. As such, it is not possible to compute a margin of error or to statistically quantify the accuracy of projections. Market Strategies will supply the exact wording of any survey question upon request.

About Market Strategies International

Market Strategies International is a market research consultancy with deep expertise in financial services with practice areas serving wealth, banking, payments and insurance. We blend primary research with data from our syndicated, benchmarking and self-funded studies as well as Big Data to help our clients grow their businesses and brands. Market Strategies’ research specialties include brand, communications, CX, product development and segmentation.

Our syndicated products, known as Cogent Reports, are the wealth sector’s leading source for insight on the attitudes, opinions and behaviors of key investor populations, including advisors, plan sponsors and affluent and institutional investors. Founded in 1989, Market Strategies is one of the largest market research firms in the world, with offices in the US, Canada and China and additional industry expertise in consumer & retail, energy, healthcare, technology and telecommunications. Read Market Strategies’ blog at FreshMR, and follow us on Facebook, Twitter and LinkedIn.

About LPL Financial

LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the retail financial advice market and served approximately $517 billion in advisory and brokerage assets as of January 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 1996-2016). 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 $127 billion in retirement plan assets, as of December 31, 2016. LPL also supports 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 more than 3,200 employees with primary offices in Boston, Charlotte, and San Diego.

Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC.


[1] The Net Promoter® Score, a management tool created by Fred Reichheld of Bain & Company, is utilized to derive customer loyalty scores. Net Promoter® is a registered trademark of Satmetrix, Bain & Company and Fred Reichheld. NPSSM is a service mark of Bain & Company. Reichheld, Fred. The Ultimate Question, Driving Good Profits and True Growth. Boston, MA: Harvard Business School Press, 2006.

U.K. Vote to Leave European Union Roils Financial Markets

British voters surprised the world on Thursday by narrowly approving a proposal to abandon the European Union and strike out on their own. The decision sent global equity and futures markets sharply lower on Friday while the pound sterling plummeted against the euro and the U.S. dollar. However, the outcome of the referendum does not mean the U.K. will immediately leave the 28-nation bloc. That process, if it is followed to completion, is expected to take at least two years.

“The key point to remember is, this referendum is the beginning of a process, it’s not the end,” says Capital Group portfolio manager Rob Lovelace. “The market has interpreted this as a bimodal event and it isn’t. Now that the referendum has passed, we start a two-year process of negotiations.”

U.K. voters were asked a simple, straight forward question: “Should the United Kingdom remain a member of the European Union or leave the European Union?” Those who wanted Britain to leave the EU – the so-called “Brexit” scenario – had argued that the U.K. would benefit by ridding itself of costly EU regulations and by restricting the ability of immigrants to enter the country. Brexit opponents warned that abandoning the EU would damage the U.K. economy by voiding long-held trade deals and other agreements that provide for the free flow of people and capital in the 28-nation bloc that stretches from Finland and Sweden in the north to Italy and Greece in the south.

“The market is interpreting this event as perhaps the beginning of the end for the European Union. If that happens, it won’t happen overnight. A process like that takes many years,” said portfolio manager David Riley.

Great Britain joined the European Economic Community in 1973 — before the “European Union” name was adopted and its regulatory powers expanded. Even at the time, it was a controversial decision. Some loyalists complained that Britain was giving up a measure of its sovereignty to continental Europe. Years later, when the euro was adopted, the U.K. refused to join the common currency, opting to stay with the pound instead.

The idea of Britain leaving the EU has been batted around for many years, but it gained renewed momentum in the midst of a tough reelection campaign in 2013. Facing a surge of anti-EU sentiment in his own party, Prime Minister David Cameron pledged to call a referendum on EU membership if the Conservatives won the election in 2015. After they won in a landslide, the Brexit referendum was scheduled for June 23, 2016.

The Brexit movement essentially split the Conservative party down the middle — with many prominent members on both sides of the debate. The Labour party, by contrast, was solidly in favor of remaining in the European Union.

“The bitter campaigning around the referendum has exposed issues related to immigration and demographics that the political system will need to address. While no one ever likes to know that there are more problems than you realize, you can’t start solving the problems if you don’t know what they are. We know what the problems are now and those problems will continue to be a challenge for the U.K., both internally and externally,” Rob said.

David Riley said the sectors that will likely get through Brexit relatively unscathed include consumer staples — particularly tobacco companies — and utilities with strong balance sheets and attractive dividend payments. “Defensive sectors are the place to be,” he added. “Tobacco, utilities and even pharmaceuticals. Their products will continue to be in demand, no matter what happens between Britain and the EU.”

A Domino Effect in Europe?

The bigger question in front of markets is the implications this will have on the future of the European Union. Portfolio manager Mark Brett says “this isn’t just about the U.K. leaving. Ultimately, the U.K. should be able to devalue its currency enough into a competitive position. The bigger question is how the other 27 countries deal with their problems now.”

An exit by the U.K. could possibly encourage certain political parties in several European countries, for example Front National in France, to promote similar actions in their respective nations. A Greek exit could be put back on the table, while polls in other countries, including the Netherlands and the Czech Republic, have suggested that their populations might want to follow with similar votes.

Portfolio manager Thomas Hogh notes, however, that “Brexit could do the reverse and propel the EU towards a greater political and fiscal union, including common deposit insurance. History suggests that a crisis may be what is needed to propel the EU into making structural progress.”

Even when markets are falling, it is not unusual for equity, bond and exchange rate markets to overreact and these kinds of market pullbacks can create opportunities for active managers. Thomas notes that “most of the adjustment necessary to rebalance growth and finance the current account deficit in the U.K. is likely to come through a depreciation of the British pound and we could see the pound overshooting amid capital flight.”

“Once the situation becomes clearer, we can focus on our in-depth company and security research in an effort to identify valuation opportunities that may have been overly impacted by short-term market fears,” Thomas noted.

One factor that is often overlooked by the markets in these volatile periods is how international many companies are these days, especially with increasing integration of global markets and economies over the past decade. In fact, almost 50% of revenues from companies in the MSCI Europe Index come from outside of Europe. This figure is even higher for the UK FTSE 100, where there are many companies that are listed in the U.K., but operate elsewhere. The British economy and markets are among the most globally integrated.


David J. Workman receives Award of Excellence from CollegeChoice Advisor 529 College Savings Plan 2015

David J. Workman of Workman & Associates, Inc., Logansport, IN, has received the 2015 Award of Excellence for sales of the Indiana CollegeChoice Advisor 529 Plan. The Indiana 529 Plan can help with efficiently saving for higher education costs, especially for Indiana residents.  Workman is one of the top 25 producers out of more than 13,000 who are authorized to offer the CollegeChoice Advisor 529.


Workman said, “When I talk with my clients about investing of any type, we discuss being efficient with their money. This often times means how do we reduce taxes and keep up with the ability to purchase goods and services in the future.  I truly appreciate every client who has trusted me to invest for their children’s and grandchildren’s futures using the CollegeChoice 529.”

Workman has been in the securities/insurance/retirement plan business in Logansport since June, 1988. He and his wife Beth have 3 grown children.

Securities offered through LPL Financial, Member FINRA/SIPC