Broker Check

LPL Financial

History

LPL was formed in 1989 through the merger of two small brokerage firms, Linsco and Private Ledger, both established in 1968. By merging these two companies, the founders of LPL sought to create a trusted alternative to Wall Street firms, one in which financial advisors could build highly competitive businesses while always doing what is right for their clients. Today, we are the largest independent broker/dealer in the country* supporting more than 14,000 financial advisors.

In 2005, LPL sold a 60% ownership stake to two private equity partners, Hellman & Friedman LLC and Texas Pacific Group, both strongly committed to maintaining the independence of the firm. In November 2010, the parent company of LPL, LPL Financial Holdings Inc., first became publicly traded on NASDAQ under symbol LPLA.

As we continue to grow and look to the future, LPL is committed to remaining a trusted and unbiased resource for our advisors and their clients. The financial services industry, markets, and world are changing fast, while people are living longer and facing more complex financial needs. At the same time, investors are increasingly seeking to partner with advisors who offer unbiased guidance to help them face today’s financial planning challenges. These factors mean that providing Americans with independent investment advice has never been more important than it is today.

Financial advisors and institutions need a partner that can help them meet the evolving needs of their clients. As a market leader, LPL is well positioned to enable our customers to help their clients do just that.

* As reported in Financial Planning magazine June 1996-2015, based on total revenues

Our Customers

For more than 20 years, the LPL Commitment Creed has been central to our culture and reflects our firm’s singular focus on serving the customer. Our 3,000+ employees in Boston, Charlotte, and San Diego come to work every day focused on living this commitment.

Though LPL was originally established to serve the independent advisor, today we serve the following customer groups:

  • Independent Advisor Services supports more than 14,000 independent and registered investment advisors.

  • Institution Services supports financial advisors at approximately 700 regional and community banks and credit unions. Additionally, Institution Services provides clearing services to approximately 4,000 advisors affiliated and licensed with insurance companies through a unique outsourcing arrangement.

We tailor our programs and services to the diverse needs of our customers, enabling them to remain focused on understanding and meeting their clients’ needs.

* As reported in Financial Planning magazine June 1996-2015, based on total revenues

Corporate Snapshot

Following are highlights of key financial performance metrics for LPL Financial Holdings Inc. For complete financial information, including recent SEC filings, visit the Investor Relations section of LPL.com

As of March 31, 2015

Advisory & Brokerage Assets ($ billions)

$485.4

Advisory Assets ($ billions)

$183.7

2014 Annual Net Revenue ($ millions)

$4,373.7

Financial Advisors

14,098

Employees

3,352

Funded Accounts (millions)

4.5

Financial Institution Partners

744

Industry ranking by number of advisors*

4

* Based on publicly filed information as of December 31, 2014