Retirement Account Disclosures

On March 15, 2018, the United States Court of Appeals for the Fifth Circuit issued a ruling invalidating the U.S. Department of Labor rule titled “Definition of the Term Fiduciary; Conflict of Interest Rule-Retirement Investment Advice”, and it no longer applies. If you have related questions, please contact your LPL Financial Advisor.

 

Advisory Services

  • LPL Financial’s Form ADV disclosure brochures: Provide information about advisory programs and services, including details about fees and conflicts of interest 

Brokerage Services

  • LPL Financial summary of compensation for brokerage services and related conflicts of interest

General Conflicts of Interests and Revenue Share Disclosures

Section 408(b)(2) Notices for ERISA Plans

  • Section 408(b)(2) of ERISA:  Provides updated information if you are a responsible plan fiduciary to an ERISA retirement plan, and the plan engages with LPL Financial as a service provider

Special Note for ERISA Plans and IRAs Using SAM I and OMP Advisory Programs

  • Prohibited Transaction Class Exemption 86-128 (amended June 9, 2017) for ERISA plans or IRAs that invest through a Strategic Asset Management I (SAM I) or Optimum Market Portfolios (OMP) account:  The exemption covers LPL transaction-related fees in connection with brokerage transactions in such accounts.
    • Form ADV Disclosure Brochures for SAM and OMP: Detailed information about transaction-related fees for advisory programs and descriptions of LPL Financial’s brokerage placement practices.
    • Clients can terminate authorization permitting LPL Financial to rely on the exemption at any time (upon written notice to LPL Financial or the LPL Financial Advisor). Such termination will terminate participation in the advisory program.  If a client chooses to terminate such authorization, LPL Financial has included a form of termination letter for this purpose.  
    • LPL furnishes information in the annual performance report for SAM I and OMP advisory accounts regarding the portfolio turnover ratio of the account and the total annual transaction-related fees charged to the client. LPL has provided an explanation of the method used to calculate the portfolio turnover ratio and the annual transaction-related fee amounts here.
    • Copies of this information are available upon request by contacting your LPL Financial Advisor.