LPL Financial Fees and Services Overview

LPL Financial offers a range of fees and services to help you manage your investments.

Their brokerage services come with a fee of $70 per year, in addition to a $100 annual account maintenance fee for accounts under $10,000.

You can also choose from various investment products, including no-load mutual funds, exchange-traded funds, and stocks, all with competitive pricing.

LPL Financial's investment management services charge a fee of 0.25% to 1.00% of your account balance, depending on the level of service you choose.

As you're considering working with an advisor from LPL Financial, it's essential to understand the client information that will be shared with you.

LPL Financial advisors are required to share Form ADV Part 2A, which includes information about their firm, services, and fees.

You'll also receive a Client Relationship Summary, which outlines the services you can expect from your advisor, including investment advice, portfolio management, and other financial services.

Your advisor will provide you with a Disclosure Brochure, which includes information about their background, qualifications, and business practices.

LPL Financial offers a wide range of services to help clients achieve their financial goals. Their advisors can provide a variety of financial products, including mutual funds, annuities, and insurance, without being pressured to sell specific products.

The firm's structure allows its network of advisors to employ different investing philosophies and offer distinct services. For example, LPL's Guided Wealth Portfolios offers four model portfolio options: Income with capital preservation, Income with moderate growth, Growth with income, and Aggressive growth.

LPL Financial also offers investment advisory programs, including discretionary and non-discretionary arrangements. The former gives the advisor total authority to make trades on your behalf, while the latter requires their approval before any decisions are made.

Here are some of the individual programs offered by LPL Financial:

LPL Financial's investment philosophy is centered around understanding clients' objectives, risk tolerance, and time horizon. This approach allows advisors to make recommendations tailored to each client's unique needs.

LPL Financial's advisors offer a wide range of financial products, including mutual funds, annuities, and tax-efficient investments.

Their services are not limited to proprietary products, so advisors aren't under pressure to sell specific products to clients.

LPL Financial offers various advisory services and programs through its independent advisors, including wrap programs, mutual fund asset allocation programs, and financial planning services.

These services are designed to meet the unique needs of each client.

Some of the specific services offered by LPL Financial include discretionary and non-discretionary portfolio management, financial planning, and retirement plan consulting services.

The firm also provides investment research and an advisor-enhanced digital advice program.

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

LPL Financial also offers various portfolio management programs, including Optimum Market Portfolios, Guided Wealth Portfolios, and Model Wealth Portfolios, among others.

Each of these programs has its own unique features and investment strategies.

LPL's investment philosophy is guided by the firm's structure, which allows its network of advisors to employ different investing philosophies and offer various services.

The investment strategies offered by LPL's advisors vary based on the program in which you're enrolled. For example, LPL's Guided Wealth Portfolios offers several model portfolio options.

Here are the model portfolio options offered by LPL's Guided Wealth Portfolios:

LPL's advisors make recommendations based on clients' objectives, which they recommend that clients determine ahead of the investing process.

LPL Financial's fees are dependent on the service you receive from an advisor. The firm shares the fee with the advisor or institution, with the exact percentage varying by program.

You'll usually pay an asset-based fee for the firm's management and advisory programs. This fee is charged quarterly and operates on a tiered level, where you pay more as your assets grow.

The maximum fees for each program are listed below:

LPL Financial also charges a setup fee for asset managers who want to place ETFs on some of the firm's platforms, which can be up to $7,500 per product.

LPL Financial has a long list of regulatory disclosures, with nearly 150 listed on its Form ADV. This should raise some red flags for potential clients.

In August 2024, the firm paid a $50 million fine to the Securities and Exchange Commission (SEC) after the agency alleged that LPL personnel sent and received off-channel communications that were required to be maintained. This failure was not isolated, but rather firm-wide.

LPL advisors may sell securities and/or insurance for additional compensation, which creates a conflict of interest. They have a financial incentive to recommend certain products and services over others.

LPL is required to act in clients' best interests as a fiduciary, but it's essential for clients to understand when their advisor is acting in a sales capacity.

LPL Financial's advisors provide a wide range of financial products, including mutual funds, annuities, and securities.

Their services are designed to meet the diverse needs of their clients. They offer a variety of advisory services, including wrap programs, mutual fund asset allocation programs, and advisory programs from third-party firms.

LPL Financial's advisors can also provide investment research and customized advisory services. This allows them to tailor their advice to each client's unique situation.

One notable feature of LPL Financial is that they don't offer proprietary financial products. This means their advisors aren't under pressure to sell specific products.

Here are some of the specific services LPL Financial offers: