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LPL Financial's Pioneering Vision
The History of
LPL Financial
Formed in 1989 through the merger of two 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.
We believe a better investment experience begins with independent, personalized
financial advice.
A poineering vision
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.
LPL Financial is a leader in the markets we serve, supporting more than 20,000 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 Financial, 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.
For more information about LPL Financial, visit www.lpl.com.
Leading With Strength, Stability and Advocacy
LPL Financial has risen to the nation’s largest independent broker-dealer and one of the top Registered Investment Advisor custodians (1).
Over $1 trillion in brokerage and advisory client assets, serviced or custodied
20,000+ financial professionals serviced by LPL Financial
800+ financial institutions partner with LPL Financial
LPL Financial is ranked No. 392 on the Fortune 500 as of 2024
Personalized Guidance
Personalized guidance matters
One of the most important financial decisions you can make is to seek the advice of a trusted, qualified financial professional. Generally, you should work with someone who employs transparency in their interactions with you and remains collaborative in terms of strategies or tactics. A financial professional should put your interests first, and provide strategies focused on your specific financial objectives. That’s what LPL financial professionals do.
LPL Financial doesn’t offer proprietary investment products and has no investment banking operations. That means our financial professionals are free from outside influence to push particular investment products or advice. Instead, they draw upon independent research and other resources that enable them to offer professional guidance to serve your needs.
The benefits of LPL Research
Among the vast resources LPL-affiliated financial professionals can access are those from LPL Research, one of the industry’s largest independent research teams. LPL Research’s experienced analysts, strategists, and investment specialists keep a pulse on global and US markets and economic trends so they can deliver research, market perspectives, asset allocation advice, and more to your financial advisor. By tapping into these resources, LPL financial professionals can help you cut through the emotions often associated with financial planning decisions.
Compliance and regulations
LPL Financial is committed to helping it's partnered financial professionals and their independent practices provide their clients with personalized advice. That includes adhering to all relevant industry regulations and rules. It’s among the many ways they help ensure the guidance you receive from your financial professional aligns with your needs and objectives.
LPL is regulated by federal, state, and self-regulatory agencies. To learn about some of these organizations, click on the links below.
Financial professional ethics and codes
Trust in a financial professional is essential for a good working relationship, and trust is built on knowing that a financial professional adheres to legal and ethical standards. LPL financial professionals abide by LPL's Code of Conduct [PDF] and Code of Ethics [PDF], which requires them to comply with all applicable federal securities laws. Depending on the certifications and professional designations they hold, they must also adhere to various industry standards. For example, any financial professional with the Certified Financial Planner (CFP) designation is subject to standards set by the CFP board. This includes the CFP Code of Ethics and Standards of Conduct.
LPL financial professionals have a passion for doing their work ethically, in line with LPL’s core values. For you that means the integrity and professionalism you expect is what you will get when you work with an LPL financial professional.
LPL financial professionals focus on doing what’s right for you. They’ll help you understand the differences between advisory and brokerage services, how your relationship with them will work, the services they’ll provide, any associated fees, and disclose potential conflicts of interest. Learn more about the attributes of LPL financial professionals.
1. As reported by Financial Planning magazine, June 1996-2021, based on total revenue.
2. Cerulli Associates, 2019 U.S. RIA Marketplace Report
3. 2019/2020 Kehrer Bielan TPM Survey. Based on financial institution market share.
4. 2024 Fortune 500
View more LPL Financial disclosures here: https://www.lpl.com/disclosures.html
View our Fee Disclosures: https://www.lpl.com/disclosures/fee-schedules.html
The views and opinions expressed by LPL Financial Advisor(s) may not be representative of the views of other Financial Advisors and are not indicative of future performance or success. Neither LPL Financial nor the LPL Financial Advisor can be held responsible for any direct or incidental loss incurred by applying any of the information offered.