LPL Financial LLC

LPL Financial LLC

A subsidiary of LPL Financial Holdings Inc.


4707 Executive Drive

San Diego, CA 92121-3091

(866) 794-0185

Clearing firm: Self-clearing, Other

No. advisers: 16,464

AUM: $764,409,615,795

Year founded: 1968

Year end: Dec. 31

For More Information

CEODan Arnold
Recruiting ContactScott Posner
(866) 794-0185

Rich Steinmeier
(866) 794-0185
Marketing ContactLauren Hoyt-Williams
(980) 321-1232

Company Overview

LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker-dealer and top 5 custodian.1,2 We serve independent financial advisors, professionals, 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. Securities and Advisory services offered through LPL Financial LLC, a registered investment advisor. Member FINRA / SIPC.

  1. Based on total revenues, Financial Planning magazine June 1996-2020
  2. Cerulli Associates, 2019 U.S. RIA Marketplace Report

2020 2019 2018
No. of reps17,28716,46416,109
No. of reps, male
No. of reps, female
No. of producing reps17,28716,46416,109
No. of producing reps, male
No. of producing reps, female
No. of reps producing $100K-$499K /year000
No. of reps producing $500K+ /year000
No. of CFPs3,8333,6453,561
No. of full-time employees4,7564,3434,229
No. of fee-based advisers served000
Average payout per rep, per year$217,576$208,266
Avg. annual production of top 20% reps000
Total payout, per year$3,697,147,201$3,388,185,616
Cost of E&O insurance per rep, per year3,650$3,650
Affiliation fees charged per rep, per year2,100$2,100
Affiliation fee coverageN/D
$0-$249,999 $250K-$499,999 $500K-$749,999 $750K-$999,999 $1,000,000+
Mutual funds 90-92% 90-92% 90-93% 90-94% 90-98%
Insurance 90-92% 90-92% 90-93% 90-94% 90-98%
Variable annuities 90-92% 90-92% 90-93% 90-94% 90-98%
Limited parterships 90-92% 90-92% 90-93% 90-94% 90-98%
Securities 77-79% 82-84% 83-86% 83-87% 83-91%
2020 2019 2018
Total revenues$5,871,640,101$5,624,856,000$5,188,400,000
Commission revenues$1,906,560,387$1,892,407,000$1,919,694,000
Securities revenues$215,633,487$181,836,852$207,391,065
Securities revenues: Stocks$126,919,851$79,446,268$84,822,194
Securities revenues: Bonds$88,713,636$102,390,584$122,568,870
Securities revenues: ETFs
Securities revenues: Other
Mutual fund revenues$590,074,110$589,411,293$616,445,365
Annuities revenues$976,358,534$1,000,807,051$999,690,150
Annuities revenues: Fixed$178,096,320
Annuities revenues: Variable$786,051,703
Annuities revenues: Other$35,542,127
Insurance revenue$71,224,162
Insurance revenues: Life
Insurance revenues: Disabilities
Insurance revenues: LTC
Insurance revenues: Other
Alternative revenues$24,015,963
Alternative revenues: Hedge funds
Alternative revenues: Managed futures
Alternative revenues: Private placements
Alternative revenues: REITs
Alternative revenues: Other$24,015,963
Other commission revenues$927,181
Fee revenues$2,327,518,915$1,982,868,943$2,766,008,000
Fee revenues: Rep-managed accounts0
Fee revenues: Firm-managed accounts
Fee revenues: Outside-managed accounts
Fee revenues: Other
Total revenues: Other$1,637,560,799$1,749,579,813$502,698,000
2020 2019 2018
Total account assets$903,078,011,096$764,409,615,795$628,066,885,559
Fee-based assets$461,171,629,346$365,765,472,815$282,035,669,207
Fee-based assets: Clearing firm
Fee-based assets: Advisory firm platforms
Fee-based assets: Third-party money managers
Fee-based assets: Other
Total account assets: Other$441,906,381,750$398,644,142,980$346,031,216,352
Average assets per rep$52,240,297$46,429,155$38,988,571
Social Media & Mobile
Allows advisers to use social mediaY
Social media sites allowedFacebook
Dedicated mobile application for advisers?Y
Primary purpose of mobile applicationLPL Financial Mobile, exclusively for LPL Financial advisors, is a fast, secure service that allows our advisers to stay connected to their clients and monitor accounts from their mobile device.
Software Offered
Account aggregation software Albridge Wealth Reporting (Albridge, an affiliate of Pershing)
Built in house/Proprietary
Black Diamond
Morningstar Office
Compliance software NRS ComplianceMAX (National Regulatory Services)
Built in house/Proprietary
CRM Redtail CRM (Redtail Technology)
Salesforce CRM (
Document management Built in house/Proprietary
Financial planning eMoney360 (eMoney Advisor)
Built in-house/Proprietary
Portfolio management Albridge Wealth Reporting (Albridge, and affiliate of Pershing)
Black Diamond (Advent Software Inc.)
Morningstar Office (Morningstar Inc.)
Orion Solutions (Orion Advisor Services LLC)
Built in house/Proprietary
Portfolio rebalancing FolioDynamix (FolioDynamix)
Offers robo-advisory platform?Y
If not, when plans to offer a robo-platform
Robo-advice services offered
How robo-platform developedBy a third-party developer
Charge for robo-advisory services?
  • N/A = Not available
  • N/D = Not disclosed
  • — = Information not available or not disclosed

All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.

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