LPL Financial

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LPL Financial Holdings Inc
Public
Traded asNASDAQLPLA
Russell 1000 Component
IndustryFinancial Services
Founded1968 (1968)
HeadquartersBoston, Massachusetts, United States
Key people
Dan Arnold, President & CEO
RevenueIncrease US$5.2 billion (2018)
Number of employees
4,229 [1] (2018)
Websitewww.lpl.com

LPL Financial Holdings Inc (commonly referred to as LPL Financial) was founded in 1968[2][3] and is considered the largest independent broker-dealer in the United States. As of 2018 the company had more than 16,000 financial advisors,[4] over $681 billion in advisory & brokerage assets,[5] and generated approximately $5.2 billion in annual revenue for the 2018 fiscal year.[6]

LPL Financial was formed in 1989 through the merger of two brokerage firms—Linsco (established in 1968) and Private Ledger (established in 1973)—and has since expanded its number of independent financial advisors both organically and through acquisitions. LPL Financial has main offices in Boston, Fort Mill, and San Diego.

LPL's subsidiaries are LPL Financial LLC, LPL Insurance Associates, Inc., Fortigent, LLC, and The Private Trust Company, N.A.

Statistics[edit]

Key facts regarding LPL Financial include the following:

  • 4.5 million funded accounts[7]
  • 16,109 financial advisers[8][9][3]
  • Approximately 4,500 technology, custody, and clearing service subscribers[10]
  • Approximately 700 financial institution partners[3][7]
  • $681 billion in advisory and brokerage assets as of September 2018[3]

Legal[edit]

On May 2, 2018 LPL Financial agreed to a $26 million settlement arising from unregistered securities.[11][12][13]

References[edit]

  1. ^ "Corporate Snapshot". LPL Financial. Dec 31, 2018. Retrieved April 14, 2019.
  2. ^ "Company Profile". Fidelity. Retrieved Apr 11, 2019.
  3. ^ a b c d Pope, Heidi (August 1, 2018). "Harbor Financial Joins LPL Platform With $360M In AUM". Financial Advisor. Retrieved April 19, 2019.
  4. ^ "Recruitment & Staffing". Investment News. Retrieved Apr 14, 2019.
  5. ^ "Asset Breakdown". Investment News. Retrieved Apr 14, 2019.
  6. ^ "Revenue Breakdown". Investment News. Retrieved Apr 14, 2019.
  7. ^ a b "LPL Financial LLC Past Performances and Asset Under Management". www.gurufocus.com.
  8. ^ "Recruiting Loans Swell at LPL and Ameriprise, Compress at Wirehouses". 9 April 2019.
  9. ^ Kelly, Bruce. "Ramped up tech spending has helped LPL recruit advisers". www.investmentnews.com.
  10. ^ Publishing, Value Line. "Value Line - The Most Trusted Name in Investment Research". www.valueline.com.
  11. ^ Kelly, Bruce (May 2, 2018). "LPL agrees to $26 million settlement with states over unregistered securities". Investment News. Retrieved April 12, 2019.
  12. ^ "Order No. IC19-CAF-01" (PDF). Texas State Securities Board. Mar 28, 2019. Retrieved April 11, 2019.
  13. ^ "2019 Division of Securities Enforcement Actions". Washington State Department of Financial Institutions. Mar 28, 2019. Retrieved April 12, 2019.

External links[edit]