LPL Financial is the nation’s largest independent broker-dealer*, a top RIA custodian, and a leading independent consultant to retirement plans. As of 12/31/2011, LPL Financial had over $330 billion in customer assets under management.
Headquartered in Boston, Charlotte, and San Diego, LPL Financial offers technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to over 17,000 financial professionals and approximately 670 financial institutions nationwide.
Through the 1989 merger of two brokerage firms—Linsco (established in 1968) and Private Ledger (founded in 1973)—the founders of LPL Financial sought to create a formidable alternative to Wall Street firms. By not offering proprietary products or engaging in investment banking activities, the perception of a conflict of interest between the firm and the client is eliminated. When financial advisors are liberated from conflicts and biases, they are free to provide objective advice and choose the products and services that are best for their clients.
* As reported in Financial Planning magazine 1996-2011, based on total revenues