LPL Financial was founded with a pioneering vision: to help entrepreneurial financial advisors establish successful businesses through which they could offer truly independent financial guidance and advice. Today we provide an integrated platform of proprietary technology, brokerage, and investment advisory services to over 13,000 financial advisors as the nation’s largest independent broker/dealer,* making us a leading distributor of financial products in the United States. In addition, we support over 4,000 financial advisors with customized clearing, advisory platform, and technology solutions.
Even as our firm has grown over the years, we remain singularly focused on helping financial advisors to manage the complexity of their investment practices so they can better serve their clients in achieving important financial goals. And, because we do not offer proprietary products, LPL Financial enables the independent financial advisors, banks, and credit unions with whom we partner to offer their clients truly objective, conflict-free advice. Our open-architecture platform provides our customers with access to thousands of commission, fee-based, cash, and money market products manufactured by hundreds of third-party product sponsors.
For more than 20 years, the LPL Financial Commitment Creed has been central to our culture and reflects our firm’s singular focus on serving the customer. Our 2,900 employees in Boston, Charlotte, and San Diego come to work every day focused on living this commitment.
Though LPL Financial was originally established to serve the independent advisor, today we serve three customer groups:
- Independent Advisor Services supports more than 13,000 independent and registered investment advisors.
- Institution Services supports financial advisors at approximately 685 regional and community banks and credit unions.
- Custom Clearing Services supports approximately 4,000 advisors affiliated and licensed with insurance companies through a unique outsourcing arrangement.
We tailor our programs and services to the diverse needs of our customers, enabling them to remain focused on understanding and meeting their clients’ needs.
What is driving the tremendous growth in the independent broker/dealer channel and should you consider getting on board? While independence can provide advisors and their clients with many advantages, choosing the right business model for you involves careful consideration of the practical and emotional aspects that come with any career move. This guide will provide you with insight on the advantages of establishing an independent practice along with valuable information to help you determine the right practice affiliation, focus, and fee model for your business.
A strong marketing plan can be essential to business success, allowing you to capitalize on your strengths, focus on your highest potential clients and relationships, and deliver your message effectively. A successful marketing plan achieves these goals in a manner designed to increase both practice productivity and profitability.
For financial advisors, social media represents a powerful addition to traditional marketing and networking activities. With the right strategy in place, social networking can be an important tool for both client acquisition and retention, enabling you to enhance brand awareness, deepen existing client relationships and find prospects and convert to clients.