Lpl Financial LLC

CRD#6413
Investment Advisor Firm

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Overview

Lpl Financial LLC operates as a financial advisory firm located in Fort Mill, South Carolina. The firm has $368.0 billion in total assets over 1.7 million client accounts, placing it among the largest firms in the country by assets under management (AUM). Lpl Financial LLC has a very large group, including 25,961 financial advisors. Lpl Financial LLC is not a registered broker-dealer, meaning the advisor cannot buy and sell securities for its accounts and those of its customers and instead is required to go through a broker-dealer firm to do so. Securities are tradable fiscal assets like stocks, bonds and options.

Lpl Financial LLC administers most of the company's client assets in a discretionary manner. Discretionary management means that buy and sell choices for the client's account are made by a portfolio manager without requiring client approval. Lpl Financial LLC also oversees 1,662 non-discretionary accounts totaling $575.8 million in assets. The advisory firm's average account size is $217,945. The average advisor at Lpl Financial LLC manages around 65 client accounts, placing it towards the middle in terms of personalization.

Lpl Financial LLC's central office is located at 1055 Lpl Way, Fort Mill, South Carolina 29715. It is legally permitted to serve clients throughout 51 U.S. states and territories.

Assets Under Management

$368.0 billion

Number of Advisors

25,961

Disclosures

No

Office Location

1055 Lpl Way
Fort Mill, SC 29715

Lpl Financial LLC by the Numbers

Total Assets Under Management

$368.0 billion

National Average: $8.6 billion
Total Number of Employees

31,366

National Average: 64
Total Number of Accounts

1,688,501

National Average: 375,227
Average Account Size

$218.0 thousand

National Average: $23.0 thousand
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Products and Services

Lpl Financial LLC provides a number of services, which can consist of financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, selection of other advisers, educational seminars and other services. In the prior fiscal year, the firm provided 13500 of its accounts with financial planning services. It does sell products or offer services different than investment advisory services to its clients. The firm is affiliated with a number of other service providers in the financial services industry, including with a broker-dealer or securities dealer, banking or thrift institution and insurance company or agency.

Core Advisor Services

  • Offered by 31% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 46% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

  • Find a firm that offers this service

    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 20% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

  • Find a firm that offers this service

    Publication of Periodicals

    This is the publication of various financial education materials.

  • Offered by 6% of firms

    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Financial advisory fees usually depend on the type of financial services provided. However, fee types charged by Lpl Financial LLC can include the following fee structures: asset-based, hourly, fixed or commission-based. The company does participate in a wrap fee program, in which the firm offers a bundle of services for a comprehensive fee.

Available

  • Offered by 69% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 21% of firms

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Offered by 1% of firms

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Offered by 32% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

Unavailable

  • Find one of the 26% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 0% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 10% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

Lpl Financial LLC works with a number of different customers. Lpl Financial LLC provides services to retail investors, high net worth investors, pension plans, charitable organizations, state or municipal government entities, sovereign wealth funds, corporations and other. Out of its 1,688,501 customers, Lpl Financial LLC's biggest client type is retail investors, but it also manages money for 382,046 high-net-worth individuals. The SEC defines a high-net-worth individual as someone who has at least $750,000 under management or a net worth of at least $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 1% of its customers reside abroad.

  • High-Net-Worth Individuals* - 31.05%
  • Other Individuals - 67.61%
  • Corporations - 1.07%
  • Charitable Organizations - 0.28%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Lpl Financial LLC does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Lpl Financial LLC

Eric Matthews
Fort Mill, SC
Wade Bramlitt
Middleburg, FL
Stephen Dilanian
Worcester, MA
Ralph Shute
Richmond, IN
William Feudale
Hazleton, PA
Nolan Ku
San Mateo, CA
Byron Stahl
Clifton Park, NY
Justin Friedman
Milford, CT
Thomas Smith
Valdosta, GA

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The content in this profile was updated by SmartAsset on 4/16/2023. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.

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