Lpl Financial LLC

CRD#6413
Investment Advisor Firm

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Overview

Lpl Financial LLC operates as a financial advisor company based in Fort Mill, South Carolina. Lpl Financial LLC oversees $404.2 billion in assets under management over 1.5 million customer accounts, placing it among the largest investment advisory firms in the nation by assets under management (AUM). The company has a very large team, including 20,469 financial advisors. Lpl Financial LLC is not a registered broker-dealer, meaning the advisor is not able to buy and sell securities for its customers' and own accounts and instead must go through a broker-dealer firm to do so. Securities are defined as tradable financial investments like options, stocks and bonds.

Lpl Financial LLC manages 1,516,336 of the firm's client assets on a discretionary basis. Discretionary management means that a portfolio manager has the discretion to make transaction judgments for the client's account without needing the customer's consent. Lpl Financial LLC also administers 1,659 non-discretionary accounts totaling $713.6 million in AUM. The advisory firm's average account size is $266,141. The average financial advisor at Lpl Financial LLC administers around 74 client accounts, making it about average in terms of personalization.

The company's headquarters is at 1055 Lpl Way, Fort Mill, South Carolina 29715. The company is registered to provide services to investors throughout 51 U.S. states and territories.

Assets Under Management

$404.2 billion

Number of Advisors

20,469

Disclosures

No

Office Location

1055 Lpl Way
Fort Mill, SC 29715

Lpl Financial LLC by the Numbers

Total Assets Under Management

$404.2 billion

National Average: $9.0 billion
Total Number of Employees

28,744

National Average: 71,771
Total Number of Accounts

1,517,995

National Average: 4,329
Average Account Size

$266.3 thousand

National Average: $2.1 million

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Products and Services

Lpl Financial LLC offers a variety 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 financial year, Lpl Financial LLC provided 12000 of its customers with financial planning services. The firm is engaged in selling products or offering services other than investment advice to its customers. Lpl Financial LLC is affiliated with one or more other service providers in the financial services industry, including with a 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 47% 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 21% 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 7% 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

A financial advisor's fees vary depending on which services the firm provides the client. Fees charged by the firm may include some combination of the following fee types: asset-based, hourly, fixed or commission-based. Wrap fee programs, or the practice of bundling services for a single fee, are provided by Lpl Financial LLC.

Available

  • Offered by 70% 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 33% 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 broad range of investors. Lpl Financial LLC works with retail investors, high net worth investors, pension plans, charitable organizations, state or municipal government entities, sovereign wealth funds, corporations and other. Out of its 1,517,995 customers, Lpl Financial LLC's largest client by number of accounts is retail investors, though it also manages money for 350,509 high-net-worth individuals. The SEC defines a high-net-worth individual as someone who has at least $750,000 in AUM 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 the company's accounts reside abroad.

  • High-Net-Worth Individuals* - 31.43%
  • Other Individuals - 67.15%
  • Corporations - 1.13%
  • 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
Paul Goeke
Saint Louis, MO
Jonathan Davis
Spokane, WA
Tyler Atkinson
Bellevue, WA
Anthony Velarde
Oxnard, CA
Anthony Rue
San Diego, CA
Bret Edensword
Seattle, WA
Ruthanna Goodman
Louisville, KY
Quais Hasseeb
Walnut Creek, CA

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The content in this profile was updated by SmartAsset on 04/01/2022 using publicly available data compiled from the SEC and FINRA. To report any data inconsistencies or errors, please contact profile-compliance@smartasset.com. The named financial professional and firm have not reviewed, approved, or endorsed this profile and are not responsible for its accuracy. Profile content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named financial professional and firm, and financial professionals and firms having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s profiles.

This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the advisor or firm mentioned in this profile. The matching tool does not include all available advisors and firms and matches based on specific criteria (investable assets, geography, and willingness to work with a remote advisor).

Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.