Company Profile
LPL Financial
Company Overview
www.lpl.com
LPL is an entrepreneurial, transformative financial services company, driving growth and exciting possibilities for our clients, their customers, and our own people. This is where you can dream up new ideas for financial services, deliver solutions on modern platforms, and leverage digital-first technologies – all as we become a cloud-based technology organization. Join us and discover everything you can touch with the nation’s largest independent broker-dealer firm and a Fortune 500 company.
LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader* in the markets we serve, supporting more than 18,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.
Company History
Formed in 1989 through the merger of two small brokerage firms, Linsco and Private Ledger, LPL was designed as an alternative to traditional Wall Street firms. The founders’ revolutionary vision was centered around helping financial professionals build competitive businesses while they served their clients’ best interests—treating them like people, not accounts. That remains true of LPL today.
FOUNDATIONAL VALUES THAT INFORM OUR VISION
At a time when few paid attention to the concept of financial planning, Private Ledger founder Bob Ritzman sought to offer a large group of mutual funds and securities to advisors—without pushing a particular product. And when Todd Robinson purchased Linsco in 1985, he was anticipating the growing desire for advisors to run their own independent practices—which proved true during the aftermath of the stock market crash in October 1987.
It was in the midst of this rapidly changing industry environment that LPL was formed. The entrepreneurial vision of Linsco and Private Ledger fused to form a guiding principle—supporting the best interests of its advisors and their clients.
More than 30 years later, LPL has become a Fortune 500 company and launched a new brand, yet this guiding principle remains—it’s simply expanded far beyond the investment services offered. Alongside the constant pace of change in the financial services industry and the world around us, LPL has evolved its technology, operations, risk management, and business consulting—while continuing to innovate its investment management services and platforms.
Notable Accomplishments / Recognition
BISA recognized LPL Financial’s proprietary technology tool, Meeting Manager, in 2022, and ClientWorks in 2020 for technology innovation. In 2021, Financial Advisor magazine named ClientWorks the most used broker-dealer technology platform.
Wealthmanagement.com recognized LPL for our ClientWorks Meeting Manager solution and for our commitment to diversity, equity and inclusion efforts demonstrated in the series Around the Table: Black Advisor Voices.
LPL’s ranking marked an inaugural appearance on the list, ranking No. 240 among 400. The list, published by Newsweek in partnership with Statista, features companies that "share a commitment to creating shared value and bettering society".
For five consecutive years, LPL Financial has received a perfect score as a best place to work for LGBTQ+ employees. The award is based on criteria like inclusive culture, equitable benefits for LGBTQ+ employees’ families, and corporate social responsibility.
Benefits
LPL Benefits, Perks, and More
LPL’s benefits package is called “Total Rewards,” because it encompasses more than compensation and insurance. It features traditional and not-so-traditional benefits, perks, and resources that can enhance your life as an LPL employee in and out of the office.
Wellness
Physical, emotional, and financial wellness all matter at LPL. We offer a broad array of health plans and wellness resources, as well as benefits to help build financial security, from which employees can choose to meet their specific needs.
Work-Life Balance
We want our employees to make the most of their time at work. But we’re also committed to ensuring they have time to pursue their personal interests and be with their families and friends. LPL’s flexible work arrangements and other perks help make both happen.
Training and Development
Career growth is as important as career satisfaction. As an LPL employee, you can achieve both with the help of our extensive personal and professional development programs. We also regularly recognize our employees’ achievements and contributions with shout-outs, bonuses,
and more.
Community Impact
At LPL, we care about our advisors, our employees, and our communities. LPL employees are encouraged to give back to their communities, and they can take advantage of 16 hours of paid Volunteer Time Off (VTO) and a matching gifts program. The LPL Financial Foundation, the company’s charitable arm, provides financial support locally and nationally to advance the opportunity for the economic well-being of underserved populations.