featured
LPL Financial LLC
A subsidiary of LPL Financial Holdings Inc.
Clearing firm: Self-clearing, Other
No. advisers: 16,464
AUM: $764,409,615,795
Year founded: 1968
Year end: Dec. 31
For More Information
| CEO | Dan Arnold | |
| Recruiting Contact | Scott Posner (866) 794-0185 Rich Steinmeier (866) 794-0185 | |
| Marketing Contact | Lauren 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.
- Based on total revenues, Financial Planning magazine June 1996-2020
- Cerulli Associates, 2019 U.S. RIA Marketplace Report
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| No. of reps | 17,287 | 16,464 | 16,109 |
| No. of reps, male | — | — | — |
| No. of reps, female | — | — | — |
| No. of producing reps | 17,287 | 16,464 | 16,109 |
| No. of producing reps, male | — | — | — |
| No. of producing reps, female | — | — | — |
| No. of reps producing $100K-$499K /year | 0 | 0 | 0 |
| No. of reps producing $500K+ /year | 0 | 0 | 0 |
| No. of CFPs | 3,833 | 3,645 | 3,561 |
| No. of full-time employees | 4,756 | 4,343 | 4,229 |
| No. of fee-based advisers served | 0 | 0 | 0 |
| Average payout per rep, per year | $217,576 | $208,266 | — |
| Avg. annual production of top 20% reps | 0 | 0 | 0 |
| Total payout, per year | $3,697,147,201 | $3,388,185,616 | — |
| Cost of E&O insurance per rep, per year | — | 3,650 | $3,650 |
| Affiliation fees charged per rep, per year | — | 2,100 | $2,100 |
| Affiliation fee coverage | — | — | N/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 accounts | — | — | 0 |
| 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 media | Y | ||
| Social media sites allowed | Facebook | ||
| Dedicated mobile application for advisers? | Y | ||
| Primary purpose of mobile application | LPL 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 Orion Black Diamond Morningstar Office |
||
| Compliance software | NRS ComplianceMAX (National Regulatory Services) Built in house/Proprietary Other |
||
| CRM | Redtail CRM (Redtail Technology) Salesforce CRM (Salesforce.com) Other |
||
| Document management | Built in house/Proprietary Other |
||
| Financial planning | eMoney360 (eMoney Advisor) Built in-house/Proprietary Other |
||
| 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 Other |
||
| Portfolio rebalancing | FolioDynamix (FolioDynamix) Other |
||
| Robo-advice | |||
| Offers robo-advisory platform? | Y | ||
| If not, when plans to offer a robo-platform | — | ||
| Robo-advice services offered | — | ||
| How robo-platform developed | By a third-party developer | ||
| Charge for robo-advisory services? | — | ||
- Notes
- 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.
Purchase the complete set of our independent broker-dealer data and profiles in an Excel spreadsheet.
For comments or suggestions about the Adviser Center, please contact us.
Disclaimer: All data and information is the property of InvestmentNews and is protected by copyright and other intellectual property laws. All rights are reserved by InvestmentNews. The data may only be used for internal business use such as to develop a mailing list but the data may not be resold, republished, redistributed, sublicensed or publicly displayed on a web site without the permission of InvestmentNews. All information contained within was obtained through InvestmentNews' annual independent B-D surveys.
