LONG ISLAND, US - Media OutReach Newswire - 11 May 2026 – Coastline Wealth Management announced the completion of a record-setting year marked by significant advisor growth and geographic expansion. From September 2024 through September 2025, the firm has added 18 advisory teams, expanding its footprint across eight new states and bringing in $1.7 billion in new client assets. These partnerships reflect a clear strategy built around advisor alignment, deeper client service, and long-term enterprise value.
With these additions, Coastline now operates in 13 states with 18 offices, supported by over 90 team members and managing approximately $5 billion in total assets. The firm continues to build a scalable wealth management platform that supports independent financial advisors without compromising its relationship-driven model.
A Year of Milestones
Over the past 12 months, Coastline has advanced its strategic expansion in wealth management by welcoming several high-quality advisory teams across multiple regions. Among the first to join were Scott Raab and Scott Gomsak, both formerly with Lincoln Financial. Raab brought $113 million in assets and joined Coastline in Hanover, Pennsylvania, while Gomsak added $154 million in client assets from his base in Sykesville, Maryland.
In New York, David Schnall and Timothy Longo helped deepen Coastline’s local footprint. Schnall, previously UBS, transitioned $103 million in assets to Coastline through a partnership in Port Jefferson. Longo, who joined from American Capital Partners, brought $98 million in AUM to the firm’s office in Woodbury.
Coastline also formed key financial advisor partnerships in the Midwest. In Wheaton, Illinois, Jeff Stensland joined through his firm, Stensland Financial Group, with $166 million in AUM. Further north, Coastline increased its presence in Wisconsin, welcoming Thomas Karlen, previously from Petros Family Wealth, who added $100 millions in assets, while Jamie Grupe and Chantel Luke brought $386 million in assets from Ameriprise – one of the largest additions of the year.
Additional transitions added strategic depth across both new and existing markets. Gary DeLorenzo joined from OSAIC with $80 million in AUM, expanding Coastline’s team in Huntington, NY. In Florida, NY, James and Lori Mezzetti transitioned $116 million in client assets as part of a broader partnership involving Myles Wealth Management. In Colorado Springs, Ed Collins added $100 million in assets to the group through Collins Wealth Management. Other significant financial advisor acquisitions included Juan Garcia in McAllen, Texas ($37MM AUM), Susan Cevette in the Minneapolis–St. Paul area ($51MM AUM), and Julie Wendholt in Nyack, NY ($29MM AUM).
Rounding out this activity was Kelly Burke, who brought a combined $220 million in assets across two locations: Raleigh, North Carolina and Fort Lauderdale, Florida. Prior to joining Coastline, Burke was affiliated with RIA Integrated Financial Strategies and RIA Financial Planning Services Inc., both of which cleared through Charles Schwab.
Why These Partnerships Matter
This year’s advisor partnerships extended beyond AUM growth. Coastline focused on acquiring advisory teams with established practices, strong leadership, and client relationships built over decades. These wealth management acquisitions enhanced the firm’s capabilities across planning, succession, and advisor integration.
Each deal was designed to strengthen Coastline’s position as a leader in M&A in wealth management, with incoming teams gaining access to centralized operations while maintaining autonomy in how they serve clients. This structure continues to appeal to independent financial advisors seeking both scale and support.
Future Direction
Following a year of accelerated growth, Coastline remains focused on its national expansion strategy. The firm will continue to pursue partnerships that align with its advisor-centric model, while enhancing platform capabilities that support scale and long-term value.
“This past year has been a defining chapter for Coastline,” said Garrett Taylor, CEO of Coastline Wealth Management. “Each acquisition represents more than just growth in numbers. It’s about partnering with exceptional advisors who share our vision of elevating client outcomes. We are building a platform where independent advisors can thrive, clients can experience unmatched service, and our collective enterprise value continues to scale.”
Looking ahead, Coastline will further invest in operational infrastructure by expanding data systems, technology tools, and service functions to support advisors and deepen client relationships, thereby continuing its reputation as a top private equity-backed wealth management firm.
Hashtag: #CoastlineWealthManagement
The issuer is solely responsible for the content of this announcement.
About Coastline Wealth Management
Coastline Wealth Management, founded in 2012, is a Long Island, NY-based independent wealth management platform with $5 billion of assets under management/advisement. Coastline services over 7,000 client accounts primarily across the East Coast of the United States. The Company, whose core focus is servicing its client base, has grown by a series of acquisitions as it continues to build its industry-leading, technology-enabled platform. Coastline continues to be a leading consolidator in the wealth management industry and is actively pursuing additional wealth advisor acquisitions (~$50MM to $500MM in assets) as part of its core growth story. By focusing on maximizing the value of advisory practices, Coastline empowers advisors to create sustainable, long-term strategies for transitioning their businesses, ensuring both financial stability and continuity for their clients. Its expertise in navigating the complexities of succession planning enables advisors to secure their legacy while optimizing growth potential, ultimately fostering a seamless transition that benefits all stakeholders involved.
** This press release is distributed by Media OutReach Newswire through automated distribution system, for which the client assumes full responsibility. **
- Innomotics wins several orders to provide motor and drive technology for eLNG projects, totaling a volume in the higher double-digit million EUR range
- Innomotics advances electrification of LNG production with eLNG solutions based on electric drive systems
- Significant operational, environmental, and financial benefits compared to conventional turbine-based LNG plants
- Enables decarbonization and supports global transition to sustainable energy systems
NUREMBERG, GERMANY - Newsaktuell - 11 May 2026 - Innomotics, a globally leading supplier of electric motor and large drive systems, has won several major orders for electrified LNG projects in Europe, Canada, Middle East and Australia. The total volume for all orders is in the higher double-digit million EUR range.
Innomotics powers the world's first all-electric eLNG plant in Hammerfest, Norway, for 19 years / Innomotics Innomotics is driving the transformation of LNG production with its innovative eLNG solutions. By replacing conventional gas turbine-based liquefaction processes with electrified drive systems, LNG operators can significantly increase efficiency, reduce emissions, and lower operating costs.
As global demand for cleaner energy continues to grow, LNG remains a key component of the energy mix. However, traditional LNG production is energy-intensive and associated with high greenhouse gas emissions. eLNG addresses these challenges by using electricity – including renewable energy sources such as wind, solar, and hydropower – to liquefy natural gas, enabling a more sustainable and efficient production process.
The electrification of LNG plants is a key step in reducing reliance on fossil fuels and achieving decarbonization targets. Electric drive systems from Innomotics offer system efficiencies of up to 95%, significantly exceeding the performance of conventional gas turbines. At the same time, operators benefit from reduced maintenance requirements, with systems capable of running up to five years without scheduled shutdowns, and increased plant availability of up to 99.9%.
By integrating high-voltage motors and variable speed drives across the entire LNG value chain – from compression and refrigeration to storage and gas treatment – Innomotics enables a fully electrified production process. When powered by renewable energy, eLNG solutions can eliminate direct CO₂ emissions and reduce annual emissions by up to 500,000 tons, supporting operators in meeting regulatory requirements and sustainability goals.
"Electrification is the foundation for a sustainable future of LNG production. With our eLNG solutions, we enable operators to significantly improve efficiency, reduce emissions, and enhance reliability across the entire process. This not only strengthens competitiveness but also accelerates the transition towards net-zero operations," says Michael Reichle, CEO of Innomotics.
He adds, "Operators are under increasing pressure to balance sustainability with profitability. Our electric drive systems deliver a compelling business case by lowering lifecycle costs, minimizing downtime, and ensuring maximum operational performance in demanding LNG environments."
Recently awarded eLNG Projects
Pioneering eLNG success for Hammerfest in Norway:
Hammerfest is home to the world's first all-electric LNG plant, operational since 2007. Equipped with two 65 MW refrigeration compressor drives, the facility has achieved over 15 years of successful operation with minimal maintenance and an exceptional availability rate of 99.88%. This project set a new standard for reliability and efficiency in the LNG sector, proving the long-term value of electric drive systems in demanding environments
Innovative floating LNG project in Canada:
This project represents the world's first floating all-electric LNG facility. With four complete drive train systems of 35 MW each powering the main refrigeration compressors, the plant is designed to export three million tons of eLNG per year. The project demonstrates the scalability and flexibility of Innomotics technology, delivering high performance and low emissions in a unique offshore setting
Setting the global benchmark for an LNG plant in Qatar:
This LNG plant features multiple 60 MW and 45 MW trains, each with three refrigeration compressors. As the world's LNG market leader, Qatar relies on Innomotics systems to deliver maximum availability and operational excellence. This large-scale deployment showcases our ability to support complex, high-capacity facilities with proven reliability and efficiency.
Lowest emissions through renewables at an LNG project in Canada:
The LNG plant is powered by renewable hydropower and features 50 MW LCI eLNG trains. The facility is designed to produce 2.1 million tons of LNG per year with the lowest emissions in the global LNG export industry. This reference highlights the environmental benefits of integrating electric drive technology with renewable energy sources.
Driving sustainability with carbon capture at a CCUS LNG project in Australia:
This project utilizes multiple medium voltage motors and drive systems totalling 297 MW for LNG production, combined with a carbon capture project. This installation demonstrates the compatibility of Innomotics solutions with advanced sustainability initiatives, enabling operators to reduce their carbon footprint while maintaining process efficiency
Additional eLNG materials:
Whitepaper on eLNG
Expert Video concerning electrified LNG
Reference projects and success stories
3D visualization in our virtual world: Innomotics Electrosphere
For more information, visit https://www.innomotics.com/hub/en/applications/electrified-lng
Follow us on LinkedIn: www.linkedin.com/company/innomotics
Hashtag: #Innomotics
The issuer is solely responsible for the content of this announcement.
NUREMBERG, GERMANY - Newsaktuell - 11 May 2026 - Innomotics, a globally leading supplier of electric motor and large drive systems, has won several major orders for electrified LNG projects in Europe, Canada, Middle East and Australia. The total volume for all orders is in the higher double-digit million EUR range.
Innomotics powers the world's first all-electric eLNG plant in Hammerfest, Norway, for 19 years / Innomotics
Innomotics is driving the transformation of LNG production with its innovative eLNG solutions. By replacing conventional gas turbine-based liquefaction processes with electrified drive systems, LNG operators can significantly increase efficiency, reduce emissions, and lower operating costs.
As global demand for cleaner energy continues to grow, LNG remains a key component of the energy mix. However, traditional LNG production is energy-intensive and associated with high greenhouse gas emissions. eLNG addresses these challenges by using electricity – including renewable energy sources such as wind, solar, and hydropower – to liquefy natural gas, enabling a more sustainable and efficient production process.
The electrification of LNG plants is a key step in reducing reliance on fossil fuels and achieving decarbonization targets. Electric drive systems from Innomotics offer system efficiencies of up to 95%, significantly exceeding the performance of conventional gas turbines. At the same time, operators benefit from reduced maintenance requirements, with systems capable of running up to five years without scheduled shutdowns, and increased plant availability of up to 99.9%.
By integrating high-voltage motors and variable speed drives across the entire LNG value chain – from compression and refrigeration to storage and gas treatment – Innomotics enables a fully electrified production process. When powered by renewable energy, eLNG solutions can eliminate direct CO₂ emissions and reduce annual emissions by up to 500,000 tons, supporting operators in meeting regulatory requirements and sustainability goals.
"Electrification is the foundation for a sustainable future of LNG production. With our eLNG solutions, we enable operators to significantly improve efficiency, reduce emissions, and enhance reliability across the entire process. This not only strengthens competitiveness but also accelerates the transition towards net-zero operations," says Michael Reichle, CEO of Innomotics.
He adds, "Operators are under increasing pressure to balance sustainability with profitability. Our electric drive systems deliver a compelling business case by lowering lifecycle costs, minimizing downtime, and ensuring maximum operational performance in demanding LNG environments."
Recently awarded eLNG Projects
Pioneering eLNG success for Hammerfest in Norway:
Hammerfest is home to the world's first all-electric LNG plant, operational since 2007. Equipped with two 65 MW refrigeration compressor drives, the facility has achieved over 15 years of successful operation with minimal maintenance and an exceptional availability rate of 99.88%. This project set a new standard for reliability and efficiency in the LNG sector, proving the long-term value of electric drive systems in demanding environments
Innovative floating LNG project in Canada:
This project represents the world's first floating all-electric LNG facility. With four complete drive train systems of 35 MW each powering the main refrigeration compressors, the plant is designed to export three million tons of eLNG per year. The project demonstrates the scalability and flexibility of Innomotics technology, delivering high performance and low emissions in a unique offshore setting
Setting the global benchmark for an LNG plant in Qatar:
This LNG plant features multiple 60 MW and 45 MW trains, each with three refrigeration compressors. As the world's LNG market leader, Qatar relies on Innomotics systems to deliver maximum availability and operational excellence. This large-scale deployment showcases our ability to support complex, high-capacity facilities with proven reliability and efficiency.
Lowest emissions through renewables at an LNG project in Canada:
The LNG plant is powered by renewable hydropower and features 50 MW LCI eLNG trains. The facility is designed to produce 2.1 million tons of LNG per year with the lowest emissions in the global LNG export industry. This reference highlights the environmental benefits of integrating electric drive technology with renewable energy sources.
Driving sustainability with carbon capture at a CCUS LNG project in Australia:
This project utilizes multiple medium voltage motors and drive systems totalling 297 MW for LNG production, combined with a carbon capture project. This installation demonstrates the compatibility of Innomotics solutions with advanced sustainability initiatives, enabling operators to reduce their carbon footprint while maintaining process efficiency
Additional eLNG materials:
Whitepaper on eLNG
Expert Video concerning electrified LNG
Reference projects and success stories
3D visualization in our virtual world: Innomotics Electrosphere
For more information, visit https://www.innomotics.com/hub/en/applications/electrified-lng
Follow us on LinkedIn: www.linkedin.com/company/innomotics
Hashtag: #Innomotics
The issuer is solely responsible for the content of this announcement.
** This press release is distributed by Media OutReach Newswire through automated distribution system, for which the client assumes full responsibility. **
