LPLA LPL Financial Holdings Inc

At its annual Focus conference, LPL Financial LLC shared its priorities for helping financial advisors and financial institutions advance their businesses by providing personalized support that enables custom client experiences, building flexible operating environments by leveraging innovative technology, and supporting advisors’ growth and legacy planning.

“Being the best firm in our industry at helping clients define and maximize their success throughout their business lifecycle. For all of us at LPL, that’s our very clear vision for the company’s success,” said Rich Steinmeier, chief growth officer, LPL Financial, speaking here today at Focus 2024, one of the industry’s largest in-person gatherings of financial advisors.

In detailing the company’s investments that serve to help LPL clients run thriving businesses, LPL announced today an expanded suite of business solutions, designed to help financial advisors and institutions more effectively manage and grow their wealth management practices. The suite, which has grown from three to 14 services over the past six years, is expected to reach 20 by year-end, and includes services co-designed with advisors to address common challenges.

The Build Your Extraordinary Business study by LPL revealed that top-performing advisors often share the same strategies for exceptional business outcomes. The research highlighted that the most successful 10% of LPL advisors, who typically partner with LPL for support with at least two core functions like marketing or administration, work similar hours to their peers but earn three times more revenue.1

“We have an incredible opportunity in wealth management not only to deliver sound advice but also to do so in ways that deliver long-lasting positive effects that contribute to local economies, support communities, inspire the next generation and enable thriving businesses that fortify Main Streets far from Wall Street,” said Aneri Jambusaria, managing director of LPL Business and Wealth Solutions, to nearly 9,000 Focus 2024 attendees.

The company outlined the following differentiated ways that LPL is uniquely serving clients to help them excel at their multiple roles.

LPL’s New Payroll and HR Solutions Streamline Talent ManagementHuman resource and talent issues are often top of mind with business owners, which led LPL to create new services to meet the growing need for foundational HR support and expertise.

LPL’s new Payroll Solutions will cover everything from set-up to full-service processing and includes ongoing access to a dedicated payroll expert. In addition, a new set of HR Solutions helps firms create HR policies, resources and handbooks, and can provide ongoing guidance for talent-related needs.

Tech Consulting Service Aims to Optimize Technology UtilizationA recent study by InvestmentNews revealed that less than half (48%) of advisors feel fully satisfied with their current technology setups, highlighting a significant gap in the effective use of technology within the industry.2 Many advisors face a common struggle in integrating and optimizing technology to enhance client interactions and operational efficiency.

Recognizing these challenges, LPL has introduced a comprehensive Tech Consulting service designed to evaluate and improve an advisor’s technology stack. Whether an advisor is looking to evolve technology or optimize existing systems, LPL’s service aims to streamline operations and enhance digital client interactions.

Chief Investment Officer Service Elevates ExpertiseLPL’s Chief Investment Officer (CIO) service allows advisors to benefit from a dedicated CIO who partners with them to strengthen their investment strategies, develop custom model portfolios, and even participate in investment committees and client consultations. The OCIO service is supported by the robust LPL Research team, ensuring advisors have access to top-tier market insights and investment expertise. The service has already made an impact on early users, who found the demands of research and portfolio management were limiting client interaction time.

Personalized Growth Coaching Drives Scale and Business Development WinsThe newly launched LPL Growth Program helps advisors fast-track their goals through personalized programs led by industry and LPL professionals. Advisors have access to one-on-one and group sessions tailored to their specific growth objectives and learn practical tactics used by some of their most successful peers. These tools are crafted to assist advisors in defining and executing their business visions, fostering growth and enhancing client engagement.

Expanded Marketing Solutions Amplify Advisors’ Connections with Prospective and Current Clients LPL’s new Digital Marketing Platform is designed to enhance client engagement through personalized communication across social media, email and digital channels. This tool makes it easy to share LPL Research insights as well as relevant premium content from leading publications, helping advisors keep their clients well informed amid a 24/7 news cycle.

Access to Capital to Support Advisors Through Lifecycle Stages“Independence doesn’t mean you’re alone; it does mean you get to lead the way,” said Steinmeier today while detailing the company’s commitment to providing capital for growth, liquidity and succession throughout the lifecycle of an advisor’s business. Through LPL Capital Partners, the company is strengthening its commitment to and investments in partnering with advisors to support growth through acquisitions, monetization opportunities and clear succession paths that preserve client relationships while protecting their respected legacy.

For more information about these programs, visit LPL Business Solutions and LPL Liquidity and Capital, and download LPL Business Solutions’ latest report, Build Your Extraordinary Business.

About LPL FinancialLPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that the firm should work for advisors and institutions, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 23,000 financial advisors, including advisors at approximately 1,000 institutions and at approximately 580 registered investment advisor firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and institution leaders have the freedom they deserve to choose the business model, services and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors and institutions, so they can take care of their clients.

Securities and Advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

1 The top 10% of LPL advisors was determined by Gross Dealer Concessions (GDC) taken from commission data in 2022. Individual results may vary. Past performance does not guarantee future results.

2 Investment News 2022 Adviser Technology Study

Warning Regarding Forward-Looking StatementsStatements in this press release regarding LPL’s future service offerings, growth and plans, including statements about the planned expansion of LPL’s suite of business support solutions, or 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 historical performance of LPL and LPL’s plans, estimates and expectations as of August 13, 2024. Forward-looking statements are not guarantees that the future plans, intentions or expectations expressed or implied by LPL 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 actual results to be materially different than those expressed or implied by forward-looking statements. In particular, LPL can provide no assurance that the expansion of LPL’s suite of business solutions will occur in the expected timeframe, or at all. Important factors that could cause or contribute to such differences include: changes in general economic and financial market conditions, including retail investor sentiment; effects of competition in the financial services industry and the success of the Company in attracting and retaining financial advisors and institutions, and their ability to market financial products and services effectively; the effect of current, pending and future legislation, regulation and regulatory actions, including disciplinary actions imposed by federal and state regulators and self-regulatory organizations; the execution of the Company’s plans and its success in realizing the synergies, expense savings, service improvements or efficiencies expected to result from its investments, initiatives and acquisitions, expense plans and technology initiatives; and the other factors set forth in Part I, “Item 1A. Risk Factors” in LPL’s 2023 Annual Report on Form 10-K and any subsequent SEC filing. Except as required by law, LPL 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 the date of this press release.

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