LPL Financial AUM and Investment Services Overview

LPL Financial is a leading financial services company with a strong presence in the industry. It offers a range of investment services and has a significant presence in the market.

LPL Financial's assets under management (AUM) have been steadily increasing over the years, reaching $730 billion in 2020. This growth is a testament to the company's ability to attract and retain clients.

With over 14,000 financial advisors and 700 financial institutions, LPL Financial has a vast network of professionals who can provide investment advice and services to clients. This extensive network allows the company to offer a wide range of investment products and services.

LPL Financial's investment services include brokerage, advisory, and retirement services, making it a one-stop-shop for clients' financial needs.

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LPL Financial's fees are dependent on the service you receive from an LPL advisor.

The firm charges an asset-based fee for its management and advisory programs, which clients pay directly to LPL. The firm then shares this fee with the advisor or institution.

For example, the LPL Program fee is 0.35%, which includes investment advice, trading, and administrative/custodial expenses.

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Fees Under LPL Financial can be complex, but let's break it down. LPL Financial's fees are dependent on the service received from an LPL advisor.

The firm charges an asset-based fee for its management and advisory programs. This fee is paid to LPL, which then shares it with the advisor or institution.

The exact percentage of the fee shared with the investment advisor may vary by program. For example, advisor fees for Guided Wealth Portfolios will not exceed 1%.

LPL's Program fee is 0.35%, which includes investment advice, trading, and administrative/custodial expenses. This means a Guided Wealth Portfolios client will pay a maximum total fee of 1.35% of assets under management (AUM).

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LPL Financial has nearly 150 regulatory disclosures listed on its Form ADV.

A huge red flag is when your advisor sends and receives off-channel communications that are records required to be maintained, as was the case with LPL in 2024 when they paid a $50 million fine to the SEC.

Your advisor may have a financial incentive to recommend certain products and services over others, which can create a conflict of interest.

This conflict of interest can lead to your advisor acting in a sales capacity, rather than in your best interest as a fiduciary.

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LPL Financial offers a wide range of financial products, including mutual funds, annuities, and tax-efficient investments.

Their advisors can provide clients with domestic and international securities, insurance, and fee-based asset management programs. They also offer estate and financial planning, trust services, group retirement plans, and exchange-traded funds and exchange-traded notes.

Some of the key services and offerings from LPL Financial include:

Their advisors aren't under pressure to sell certain products because LPL Financial doesn't offer proprietary financial products.

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LPL Financial has a significant presence in serving high-net-worth individuals, with a large client base that includes more than twice as many individuals as high-net-worth individuals.

The firm has recognized the unique needs of affluent individuals and has taken steps to support advisors in meeting those needs. LPL's high-net-worth consulting team is dedicated to helping advisors provide customized services to their high-net-worth clients.

In recent years, LPL has expanded its resources for advisors serving high-net-worth clients, providing them with the tools and expertise needed to deliver meaningful services.

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A notable example of this is the team at Endeavor Wealth Strategies, led by Seth Marshall, which joined LPL's platforms with $515 million in advisory assets. Marshall recognized the need for specialized resources to address his clients' sophisticated needs, and LPL's innovative capabilities and strategic resources helped him deliver for his clients in Northern Indiana.

LPL's focus on serving high-net-worth individuals is also evident in its ability to support large advisory teams, such as the $345 million AUM practice of Brian M. Pflaum, MBA, which joined LPL's platforms after discovering his firm would be acquired. Pflaum's practice, TPG Private Wealth, now has access to a broader range of products, best-in-class technology, and enhanced research capabilities.

In addition to supporting individual advisors, LPL also serves large institutions, with a total advisory and brokerage assets of over $1.35 trillion as of December 31, 2023.

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This broker boasts an impressive $9B in assets under management, a testament to its extensive reach and influence in the industry.

Their network of 240 advisors is dedicated to providing top-notch service to clients, leveraging their expertise to make informed investment decisions.

With such a vast and experienced team, clients can expect personalized attention and tailored solutions to meet their unique needs.

Their advisors work closely with clients to understand their goals and risk tolerance, crafting investment strategies that align with their values and objectives.

The broker's commitment to excellence is evident in its ability to provide comprehensive services to clients, from investment management to retirement planning.

Their advisors are equipped with the latest tools and technology to stay ahead of the curve and provide the best possible outcomes for clients.

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LPL Financial's advisors are capable of providing a wide array of financial products, including mutual funds, annuities, and other tax-efficient investments.

Their services are not limited to just financial products; they also offer advisory services and programs that cater to individual clients' needs.

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Through its independent advisors, LPL Financial provides wrap programs, mutual fund asset allocation programs, and advisory programs offered by third-party investment advisor firms.

These programs are designed to help clients achieve their financial goals, whether it's retirement planning or estate management.

Some of the specific services offered by LPL Financial include financial planning services, retirement plan consulting services, investment research, and an advisor-enhanced digital advice program.

Here are some of the advisory services offered by LPL Financial: