LPL Financial
 |
|
| Public | |
| Traded as |
NASDAQ: LPLA Russell 1000 Component |
| Industry | Financial Services |
| Founded | 1968 |
| Headquarters |
75 State Street Boston, Massachusetts |
|
Key people
|
Dan Arnold, President & CEO |
| Revenue |
 US$$4.04 billion (2016) |
|
Number of employees
|
3,288 (2016) |
| Website | www |
LPL Financial Holdings (commonly referred to as LPL Financial) is the largest independent broker-dealer in the United States. The company has more than 14,000 financial advisors, over $500 billion in advisory & brokerage assets, and generated approximately $4 billion in annual revenue for the 2016 fiscal year. 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. Approximately 3,384 employees support financial advisors, financial institutions, and technology, custody, and clearing service subscribers with enabling technology, comprehensive clearing and compliance services, practice management programs and training, and independent research.
LPL Financial advisors help clients with a number of financial services, including equities, bonds, mutual funds, annuities, insurance, and fee-based programs. LPL Financial does not develop its own investment products, enabling the firm’s investment professionals to offer financial advice free from broker/dealer-inspired conflicts of interest.
In 1989 LPL Financial was created through the merger of two small brokerage firms, Linsco and Private Ledger.
In 2003, LPL Financial acquired Private Trust Company, which manages trusts and family assets for high-net-worth clients in all 50 states.
In 2004, LPL Financial acquired the broker/dealer operations of the Phoenix Companies, which offered Phoenix the chance to sell its products through the LPL Financial network.
In 2005, private equity firms Hellman & Friedman and Texas Pacific Group took a 60% stake in the firm.
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Wikipedia