Broker Check

Our Broker-Dealer Relationship

LPL Financial is a business-to-business brokerage firm serving independent financial advisors, community and regional banks and credit unions, and broker/dealers at leading financial services companies. LPL Financial helps financial professionals to manage the complexities of running successful practices by providing our customers with access to enabling technology, comprehensive custody and clearing services, practice management programs and training, and independent research—all of which allow our advisors to focus on providing conflict-free and unbiased investment advice to help their clients achieve important life and financial goals.

Our History:

LPL Financial was founded over 40 years ago with a pioneering vision—to help entrepreneurial financial advisors establish successful businesses through which they could offer truly independent financial guidance and advice. Through the 1989 merger of two brokerage firms, Linsco (established in 1968) and Private Ledger (founded in 1973), the founders of LPL Financial sought to create a formidable alternative to Wall Street firms, one where financial advisors could build highly competitive businesses while always doing what was right for their clients. Today, LPL Financial is the largest independent broker/dealer in the country. Our success has been driven by a commitment to enable our customers to reduce the complexity of running and managing a successful business.

In 2005, LPL Financial sold a 60 percent ownership stake to two private equity partners, Hellman & Friedman LLC and Texas Pacific Group. LPL Financial and our equity partners are strongly committed to maintaining the independence of the firm, with a shared vision of our future success.

About LPL Financial:

LPL Financial is one of the nation’s leading financial services companies and largest independent broker/dealer (based on total revenues as reported in Financial Planning magazine, June 1996-2014). Headquartered in Boston, Charlotte, and San Diego, LPL Financial and its affiliates offer industry-leading technology, training, service, and unbiased research to 12,027 financial advisors, 776 financial institutions, and approximately 4,000 institutional clearing and technology subscribers. LPL Financial had $268.9 billion in brokerage and advisory assets as of September 30, 2009.

LPL Financial and its approximately 2,400 employees serve financial advisors through Independent Advisor Services, supporting financial advisors at all career stages; Institution Services, focusing on the needs of advisors and program managers in banks and credit unions; and Custom Clearing Services, working with broker/dealers at leading financial services companies.