Leading retail investment advisory firm and independent
broker/dealer
LPL Financial LLC, a wholly owned
subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), today
announced that an association of firms within The Planners Network
(TPN), which was formerly affiliated with National Planning
Corporation (NPC), have joined LPL. Each TPN firm has individually
aligned with LPL. Collectively, based on prior business*,
TPN-associated firms reported serving more than $4.3 billion of
client brokerage and advisory assets, as of Oct. 31, 2017.
TPN was formed 18 years ago by like-minded advisors at NPC who
joined together to leverage their collective scale in business
operations and to provide opportunities for professional growth
through educational programs and networking resources. TPN is
managed by a board of directors and a chief operating officer,
Kären Locklin, who work on behalf of the firms in the group. TPN is
made up of approximately 75 advisors operating primarily as
single-person or small offices.
David Williams CFP® serves as the current TPN board president
and is founder of Retirement Investment Specialists, a three-person
office in Santa Rosa, Calif. He said, “As a network, our advisors
have been able to accomplish more than we could do as individual
firms. TPN connected us in meaningful ways both personally and
professionally. Valuing our network so much, it was important that
we choose a firm that would support our relationships and our
businesses. With LPL, we have the ability to establish ourselves in
a way that helps us to be able to pursue our individual goals and
our group’s goals. We also gain access to the firm’s enhanced
technology resources, advisory platforms and transitioning tools,
all of which will help with the move and our long-term
success.”
“The Planners Network is a unique collective of advisors
operating with a common vision to support each other’s growth, and
we believe they have done so quite successfully,” said Bill
Morrissey, LPL managing director and divisional president, Business
Development. “Our main goal has been to help Dave, the TPN board
members, and advisors each identify business model options that
would help to maintain their group dynamic and achieve the scale
and operational efficiencies they had negotiated as a collective.
We are excited to welcome TPN advisors to LPL and look forward to
supporting their continued collaboration and growth.”
NPC is one of four broker/dealers in NPH’s network of
broker/dealers, assets of which were purchased by LPL as part of a
previously announced transaction in August 2017.
*Asset numbers were reported by advisor firms associated with
The Planners Network based on prior business and have not been
independently and fully verified by LPL Financial. Each TPN- firm
individually reported, based on prior business, the amount of its
client brokerage and advisory assets served, as of Oct. 31,
2017.
About LPL FinancialLPL Financial LLC, a wholly
owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a
leader in the retail financial advice market and provided service
to approximately $566 billion in brokerage and advisory assets as
of Oct. 31, 2017. LPL is one of the fastest growing RIA custodians
and the nation’s largest independent broker-dealer (based on total
revenues, Financial Planning magazine, June 1996-2017), and the
firm and its financial advisors were ranked No. 1 in net customer
loyalty in a 2016 Cogent Reports™ study. The Company provides
proprietary technology, comprehensive clearing and compliance
services, practice management programs and training, and
independent research to more than 14,000 financial advisors and
over 700 financial institutions, enabling them to provide a range
of financial services including wealth management, retirement
planning, financial planning and other investment services to help
their clients turn life’s aspirations into financial realities. As
of Sept. 30, 2017, financial advisors associated with LPL served
more than 4 million client accounts across the U.S. as well as an
estimated 41,000 retirement plans with an estimated $137 billion in
retirement plan assets. Additionally, LPL supports approximately
3,700 financial advisors licensed and affiliated with insurance
companies with customized clearing, advisory platforms, and
technology solutions. LPL Financial and its affiliates have more
than 3,500 employees with primary offices in Boston, Charlotte, and
San Diego. For more information, visit www.lpl.com.
Securities and Advisory Services offered through LPL Financial.
A registered investment advisor, Member FINRA/SIPC.
Forward-Looking StatementsStatements in this
press release regarding the Company’s future levels of assets
serviced, growth, business strategy, and plans, as well as any
other statements that are not related to present facts or current
conditions or that are not purely historical, constitute
forward-looking statements. These forward-looking statements are
based on the Company’s historical performance and its plans,
estimates and expectations as of December 7, 2017. The words
“believes,” “expects,” “may,” “plans,” “will” and similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. Forward-looking statements are not guarantees
that the future results, plans, intentions or expectations
expressed or implied by the Company will be achieved. Matters
subject to forward-looking statements involve known and unknown
risks and uncertainties, including economic, legislative,
regulatory, competitive and other factors, which may cause levels
of assets serviced, actual financial or operating results, levels
of activity, or the timing of events, to be materially different
than those expressed or implied by forward-looking statements. In
particular, the Company can provide no assurance that the assets
reported as serviced by financial advisors and/or firms mentioned
in this press release will translate into assets continuously
serviced at LPL Financial or that such financial advisors and/or
firms will remain at LPL Financial. Important factors that could
cause or contribute to such differences include: the choice by one
or any of the clients of the Company's newly recruited financial
advisors and/or firms mentioned in this press release not to
maintain brokerage and/or advisory accounts at LPL Financial;
discovery of errors made in the calculation of assets serviced
reported by the newly recruited advisors; changes in general
economic and financial market conditions, including retail investor
sentiment; fluctuations in the value of assets under custody;
effects of competition in the financial services industry; and the
other factors set forth in Part I, “Item 1A. Risk Factors” in the
Company’s 2016 Annual Report on Form 10-K and any subsequent SEC
filing. Except as required by law, the Company specifically
disclaims any obligation to update any forward-looking statements
as a result of developments occurring after the date of this press
release, even if its estimates change, and you should not rely on
those statements as representing the Company’s views as of any date
subsequent to December 7, 2017.
Media Contact:Lauren
Hoyt-Williams980-321-1232Lauren.Hoyt-Williams@lpl.com
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