Sellers that showed interest
Company Details
LPL Financial, LLC ("LPL") was formed in 1989 through the merger of two small brokerage firms, Linsco and Private Ledger. The firm was established with a mission to support financial advisors in their practice management and client service, aiming to protect and grow their clients' wealth. Over the years, LPL Financial has achieved significant growth milestones, including becoming a publicly traded company and managing approximately $1 trillion in assets. In the past few years LPL has decided to become an acquirer of wealth by merging firms as well, since 2022, LPL has completed around 20-25 local advisor acquisitions, contributing to its expansion and market presence.
LPL Financial positions itself in the market by offering a supported independence model that allows advisors to operate as true fiduciaries and serve their clients' best interests. The firm provides best-in-class support, enabling advisors to focus more on client service rather than business management and operations. LPL emphasizes providing a high degree of autonomy for advisors while establishing support systems that partners and advisors can leverage. The presence of LPL's Liquidity & Capital Programs ensures that advisors have a way to monetize their business, offload entrepreneurial burdens, and put a thoughtful succession strategy in place. LPL aims to be the largest wealth management platform in the advisor space, focusing on serving more advisors and bringing them capabilities while maintaining an independent spirit.
LPL Financial's investment program is designed to support advisors in serving their clients' best interests through a supported independence model. Advisors have the autonomy to manage and trade their own models while leveraging LPL's resources and open architecture platform. The firm emphasizes a growth culture, aiming to protect and elevate what advisors have built.
LPL Financial allows advisors to manage and trade their own models while providing options to utilize LPL models. Advisors can build their models on the Strategic Asset Management platform and trade them using the Enhanced Trading & Rebalancing Platform. The platform supports a broad range of alternative investments, including non-traded REITs, BDCs, single strategy, and FOF hedge funds, private equity, private real estate, managed futures, exchange funds, qualified opportunity zone funds, and interval funds.
Model Portfolios:
- Advisors can use LPL's model portfolios or create customized and bespoke portfolios.
Asset Management:
- LPL uses a combination of in-house management and external managers.
Investment Options:
- LPL offers thousands of investment options, including mutual funds, ETFs, equities, and fixed income.
Tiers of Investment Services:
- LPL has a private wealth offering focused on high net worth clients, typically with a minimum of $5 million in investable assets.
Locations
Company Videos
Acquisition Model
Full Acquisition
No
Yes
For further information, please contact Alaris.
For further information, please contact Alaris.
Mandatory Points of Alignment
Advisors can retain their brand if they choose.
LPL asks advisors to centralize all non-client-facing activities such as operations, compliance, payroll, etc. While LPL has a preferred tech stack, the firm is flexible.
Advisors will have visibility into their local P&L with yearly and quarterly budget reviews to examine expenses.
LPL believes that each advisor has a unique client experience and does not require advisors to change how they serve their clients. The only requirement LPL asks of its advisors is to utilize the same client onboarding technology.
LPL has a strong practice management program it encourages advisors to adopt.
Within LPL's system, advisors maintain complete autonomy, allowing them to efficiently manage and trade their models.
Advisor Value Proposition
LPL offers a unique partnership opportunity for firms seeking to leverage the advantages of a trillion-dollar enterprise while maintaining operational flexibility. With extensive resources and an 8,000-person workforce, LPL provides a means to de-risk the business and optimize firm operations. Their commitment to investing in training and supporting G2 advisors creates a growth culture. In LPL’s commitment to fostering growth and innovation, they have established the Advisor Institute, designed to provide comprehensive training for new advisors. This initiative includes a cohort-based program spanning one summit and academy, strategically tailored to equip individuals with the necessary skills and knowledge to excel as leaders and financial advisors. Recognizing the pivotal role played by the G2, LPL understands the significance of incentivizing them and empowering them with control over the future. A transaction with LPL’s Liquidity & Capital team bridges G1’s monetization with G2’s ascent to leadership.
LPL has a central para-planning team that advisors can leverage for an additional fee.
Advisors can simplify their workflow by offloading all non-client-facing operations (compliance, marketing, staff management, payroll, technology, etc.) to the corporate teams at LPL. This enables them to focus more on providing quality service to their clients.
One of LPL's core principles is that the advisor defines their growth, and it’s their job to support it. There are a range of live events, training, and on-demand learning opportunities the advisor can select throughout the year. Additionally, they have a variety of consulting teams the advisor can engage with at any time to help find growth opportunities in their existing book or create strategies to capture new business segments. These include: Advisory Consulting: The team is made up of experienced subject matter experts who are committed to helping the advisor grow by strengthening their client relationships and enhancing the value of the fee-based practice. Financial Planning: Grow the financial planning practice and help the advisor answer all their clients’ questions with the support of a team of CFP® professionals. This is an additive cost. Insurance: LPL’s insurance agency will fully support the advisors' insurance business with competitive payouts, a wide range of products, insurance technologies, and support across the sales and operational lifecycle. LPL Research: Have access to one of the largest independent research teams in the industry, whose mission is to provide independent investment research to support financial advisors as they help investors work toward their individual goals. Marketing Consulting: This team can evaluate and help optimize the advisor's current marketing efforts, collaborate with them to develop a brand, and introduce you to new tools and strategies. High-Net-Worth Services and the Private Trust Company: Compete for, win, and retain high-net-worth clients ( minimum of 5M of investable assets) with access to specialized experts who can give the advisor advice and implementation strategies for this market. Their expertise covers the spectrum of wealth management, including portfolio construction, risk management, investment strategies, estate planning strategies, and wealth preservation. Retirement Partners: Access experienced retirement plan consultants, platforms, and tools to help the advisor manage all aspects of retirement plan sales and servicing, from pre-sales opportunities to ongoing plan services and management. Wealth Consulting: Wealth Consulting gives the advisor support, tools, and resources necessary to service additional assets among existing clients and seek new opportunities for growth.
As the all-encompassing marketing hub, LPL's Marketing Consulting serves as the go-to resource for evaluating and enhancing current marketing endeavors. The team at LPL collaborates closely with advisors, offering expertise to develop a compelling brand identity and introduce innovative tools and strategies. With a dedicated marketing consultant who brings a wealth of experience, LPL's Marketing Consulting team specializes in ghostwriting content in the advisor's voice and conducting monthly reviews with advisors. The approach extends to crafting a highly customized engagement strategy, including impactful blogs and tailored digital perspectives. From managing Google ads to organizing client events, LPL promotes a comprehensive and effective marketing presence. To showcase ongoing engagements, LPL provides monthly reports to advisors, exemplifying their commitment to sustained success.
LPL has strong practice management structures in place to help advisors across various facets of organizational development. Notably, each advisory business is paired with a dedicated Field Management team using intimate support ratios, who work hand in hand with the advisors and staff to support the business. The dedicated Field Management team will serve as a concierge into LPL and will ensure that the resources and support provided by LPL are aligned to each advisor’s unique goals and objectives. In addition to helping identify and implement strategic initiatives, Field Management plays a crucial role in actively engaging and supporting the staff in theday-to-day operations of each business. The Field Management team focuses on coaching and developing all advisors, providing training for Customer Service Associates (CSAs), and ensuring that career pathing opportunities are in place for the staff. Furthermore, Field Management will work with advisors to help structure and implement a thoughtful succession strategy to help transition control of the business to the right successor advisors. This team conducts regular check-ins, either weekly or monthly, based on the advisor's preference, to ensure effective communication and coordination.
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