Mike is proudly associated with LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA). A market leader in retail financial advice, LPL has served almost $500 billion in brokerage and advisory assets as of May 31, 2016. Financial Planning Magazine deemed LPL the nation’s largest independent broker-dealer and one of the fastest growing RIA custodians based on its total revenues*. The Company helps over 14,000 independent financial advisors and 700 banks and credit unions serve their clients’ needs by providing them with proprietary technology, extensive clearing and compliance services, practice management training, and independent research. Advisors associated with LPL serviced approximately 45,000 retirement plans with $121 billion in assets, as of March 31, 2016.
In 1989, LPL Financial was formed through the merger of two small brokerage firms: Linsco & Private Ledger. The founders of LPL sought to develop a trustworthy alternative to Wall Street firms in which they could be competitive while putting their clients first.
In 2005, Hellman & Friedman LLC and Texas Pacific Group bought a 60 percent ownership stake in LPL with a desire to retain the firm’s independence. In November 2010, LPL Financial Holdings Inc., the parent company of LPL, became publicly traded on NASDAQ under symbol LPLA.
As life expectancy increases and financial needs become more complicated, independent advice has never been more important. Partners such as LPL are vital to financial advisors and institutions in order to navigate today’s financial planning challenges and meet clients’ unique needs.
*As reported by Financial Planning magazine, June 1996-2016, based on total revenue.
For more information, please visit https://lplfinancial.lpl.com/.
For a more visual overview of LPL Financial, see the LPL at a Glance Infographic.
Securities and Advisory Services offered through LPL Financial. A registered investment advisor, Member FINRA / SIPC. Additional investment advice offered through Independent Advisor Alliance, a registered investment advisor. Independent Advisor Alliance and Charlotte Wealth Advisors are separate entities from LPL Financial.