More than 6,000 attendees convened in Boston for this year’s annual LPL Focus conference, a signature event in the financial services industry. LPL asked Boston Mayor Marty Walsh to share ways his administration has approached similar issues that the firm is addressing, including increasing diversity and inclusion and being accountable to stakeholders.
Justin Vargas, 14, never met a politician until today, when South Carolina Treasurer Curtis Loftis sat down at his table at LPL Financial’s second annual Take Your Child to Work Day. Treasurer Loftis was at the firm’s Fort Mill campus to deliver a financial literacy presentation to about 50 6th to 9th grade children of LPL employees. After chatting one on one with the treasurer, Vargas said, “He made me realize how important it is to save money.”
Rich Steinmeier will join LPL in mid-August as LPL’s new managing director and head of business development. We sat down with him to discuss his background and experience, his new role and his thoughts about joining LPL.
The financial advisors with Gulf Point Advisors have more than 130 years of combined experience supporting high-net-worth (HNW) clientele, yet only two years doing so with LPL Financial. Chris Kenny, a partner with the New Orleans-based firm, shared why the move to LPL’s independent model has been an important milestone for the firm, what it means to now be a business owner and his secrets to winning HNW clients.
The final day of LPL’s annual advisor conference culminated with Managing Director and Chief Investment Officer Burt White taking advisors on LPL’s journey to enhance the advisor and investor experience. Executive Vice President Rob Pettman breaks down Burt’s presentation, and Senior Vice President Chris Albertson shares what he heard from advisors at the HearMe Booth, the firm’s plan to use that feedback to continue to deliver value in affiliation with LPL.
Diversity and Inclusion was an important theme during LPL’s Focus conference in Boston. Tuesday, the company hosted a panel discussion for advisors to share inclusive best practices to meet the needs of today’s diverse investor.
With another day of Focus complete, leaders and advisors reflect on the day’s events. In today’s recap of Focus, Executive Vice President Matt Enyedi summarizes remarks from the general session. Both CEO Dan Arnold and Managing Director Andy Kalbaugh delivered company updates, centering around LPL’s commitment to continuous improvement. Advisors also weigh in with their thoughts.
LPL Financial today announced revised business requirements that broaden access to its Retirement Plan Consulting Program (RPCP). Going forward, qualifying advisors are eligible to service retirement plans in an advisory capacity by satisfying updated criteria.
LPL Managing Director Burt White held court today as a general session speaker at the company’s annual Focus conference, offering unique insights into how the rapid pace of change impacts the power and shelf life of experience. White stressed that adaptability and innovation are key success factors in today’s environment.
Pre-conference activities kicked off today at LPL Financial Focus 2018 including the Focus on Women and Inclusion events. Listen to a recap of today’s highlights and interviews with participating advisors.
This time last year, LPL announced that its advisor-enhanced digital advice solution, the Guided Wealth Portfolios platform (GWP), was available to all LPL advisors. Since its official launch in September 2017, use of GWP has grown faster than any platform in LPL history, with over 1,500 advisors using the solution as of July 2018.
Five LPL Financial service professionals were honored today at Focus for demonstrating extraordinary professionalism, compassion and expertise in the service experience they deliver to advisors. The Service Superstars were recognized as part of the morning’s general session programming, with approximately 3,600 advisors in attendance, and at a breakfast with advisors and executives.
Several LPL advisors were spotlighted today as part of the Focus general session, sharing insights and perspectives about what’s working for their businesses and how their feedback has affected change at the firm to benefit all advisors. Advisors shared best practices to enhance the LPL service experience, encourage technology adoption and engage millennial investors.
Susan Kaplan is one of LPL’s top producing advisors, and for decades has been a woman to watch in financial services. Today, all eyes were on her as the featured speaker at the 10th annual Focus on Women, a half-day symposium within LPL’s all-advisor conference, Focus. The symposium provided women advisors with personal and professional development opportunities and cultivates a community of women advisors.
LPL Financial’s largest advisor conference gets underway today in Boston, including two milestone events in the firm’s efforts to increase programming relating to advisor and investor diversity. The inaugural Focus on Inclusion launched to help advisors cultivate inclusive practices to serve as a growth driver. And for the 10th year, Focus on Women brought together women advisors for a half-day symposium to share best practices and build a supportive community among this advisor segment.
One of the most followed financial advisors on social media will take over LPL Financial’s corporate Twitter account Monday to share photos, updates and her perspectives live from Focus, LPL’s signature advisor conference.
LPL Financial today announced that it has expanded its list of integrated third-party technology to include consolidated reporting solutions available from Black Diamond and Morningstar Office. LPL Financial advisors who choose to use either of these solutions will be able to take advantage of a seamless data flow into the tools, making it easier to provide their clients with a digital experience to enhance their client relationships.
LPL Financial announced today that its digital platform, ClientWorks, is now integrated with Riskalzye’s risk scoring software, providing financial advisors who use the tool improved account synchronization and monitoring capabilities. LPL advisors will experience a seamless data flow from LPL’s platform into the Riskalyze solution, creating the ability to link client accounts with corresponding client profiles within the tool.
Tucked away in historic Peabody, Mass., nestled along the gateway to Salem, just north of Boston, is Freedman Financial, a family-run practice that started 50 years ago in the basement of Barry Freedman’s home. He built the business going door-to-door, determined to make a difference in the lives of his clients by listening deeply, crafting thoughtful strategies, and then guiding investors throughout their financial journey.
The theme of familial wealth is close to Jay Kabad’s heart. He spent 30 years building a financial planning firm dedicated to helping families and plans to eventually transition the business to his daughter, Anasuya.
LPL’s no-transaction-fee (NTF) network launched July 2 on its Strategic Wealth Management (SWM) platform. Included in the launch are the following mutual fund companies: AllianceBernstein, BlackRock, Columbia, J.P. Morgan, John Hancock, INVESCO, Legg Mason, MFS, Natixis, Oppenheimer and Putnam.
LPL advisor Sid Lorio, CFP, AIF (CEO of Lorio Wealth Management in Bedford, Texas) spoke to us about how the values he learned while serving in the United States Air Force shaped his career as a financial advisor.
LPL Financial LLC today proudly welcomes Rockline Wealth Management to LPL’s broker/dealer and corporate registered investment advisor (RIA) platforms. Rockline Wealth Management reported that it served approximately $415 million of client brokerage and advisory assets as of April 20*.
LPL Financial today announced that it is proud to welcome Flood Financial Services to LPL’s broker/dealer and registered investment advisor (RIA) platforms. Flood Financial Services reported that, based on prior business*, it served approximately $330 million of client brokerage and advisory assets, as of June 1.
LPL Financial recently launched a blockchain model portfolio, created as an opportunity for LPL advisors to offer an investment strategy centered around this transformative technology. As a new way to store and transfer data, blockchain has been labeled by many as the next generation of the internet.
Scott Seese, LPL Managing Director and Chief Information Officer is responsible for managing the firm’s technology and system applications and creating compelling digital experiences. He shares how purpose drives his work.
Michelle Page, LPL senior vice president, Business Consulting, and Chad Waddoups, investment program manager at Salt Lake City, Utah-based Mountain America Credit Union, discuss how technology adoption creates improved member services, as well as efficiencies within the business.
In celebration of LGBT (Lesbian, Gay, Bisexual and Transgender) Pride Month in June, LPL advisor Laura J. LaTourette shares how her deep understanding of the issues facing elderly and LGBT clients helps her advocate for their financial and personal needs.
LPL Financial announced today that it will roll out platform enhancements to both its corporate and hybrid advisory Registered Investment Advisor (RIA) platforms in the coming year. A mutual fund no-transaction-fee (NTF) network will be added to LPL’s Strategic Wealth Management (SWM) platform, and the company will reduce pricing on its Strategic Asset Management (SAM) advisory platform.
LPL advisors are increasingly taking advantage of the firm’s centrally managed advisory platforms, including Model Wealth Portfolios (MWP), Optimum Market Portfolios (OMP) and Personal Wealth Portfolios (PWP), to outsource investment management activities and build efficiency into their practices. As a result, LPL’s total centrally managed assets now exceed $35 billion as of March 31, 2018. Centrally managed assets are a subset of LPL’s total advisory assets under custody at LPL Financial LLC.
Approximately 150 of LPL Financial’s top wealth managers recently gathered at the prestigious Wharton School at The University of Pennsylvania for LPL’s 2018 Private Wealth Symposium. Looking to deepen their expertise in supporting high-net-worth clientele, attending advisors heard from top academics and experts in the financial industry on contemporary financial planning, investing and practice management strategies for addressing the complex needs of high-net-worth investors.
It’s estimated that one in five Americans over the age of 65 has been victimized by financial fraud resulting in millions of dollars stolen each year. Senior investors are especially at risk for financial fraud or exploitation because of diminished capacity, isolation, disability, health problems, and bereavement. This is a critical issue, and protecting senior investors is a top priority for LPL.
Growing up in the Philippines, LPL advisor Marcia Anton soaked up the wisdom of her lola, the Filipino word for grandmother. As a successful restaurateur, her grandmother wove together the tips for success with the traditional bayanihan spirit of Filipinos, which translates to community, but in practice is a devotion to caring for one's neighbors and a deep love of family.
Today marks the swearing in of Donald Trump as the 45th President of the United States. Whether you are a Republican, Democrat, or Independent, one thing’s for sure, this inauguration is the culmination of a long, difficult presidential campaign.
When Dorothy Bickling began her professional career in 1962, she said she never would have guessed she would be a financial advisor, much less working alongside her two sons, Spencer Betts and Andy Betts. Yet for 17 years, she has been in practice with her family at Bickling Financial Services in Lexington, Mass.
LPL advisors Robin Saar and Cassie Mlakar of the Investment Services team at First State Bank in Shannon, Ill. sat down with LPL’s Michelle Page, senior vice president, Institution Services, at LPL’s recent Women Advisors Leaders Forum to share their insights on a variety of topics relevant to their business.
When LPL advisor Russ Cesari’s daughter and son went into the military, the former Army captain offered these words of advice: “You need to take care of your people. If they know you care about them, they’ll be loyal.”
We’re grateful for all the veterans who have protected and served our country—and those who continue to do so. As we recognize and thank them for their service this Veterans Day, it’s also a time to reflect on our own military roots as a company formed by two veterans with a vision and passion for independence.
LPL Financial announced today that JBL Financial Services, Inc. has joined its broker/dealer and hybrid Registered Investment Advisor (RIA) platforms. The St. Louis, Mo.-based firm has aligned with Private Advisor Group, a hybrid solution supported by LPL. JBL Financial Services reported that, based on prior business, its advisors served approximately $140 million of client brokerage and advisory assets, as of Sept. 30, 2016*.
LPL Financial has been recognized as one of the “Best Places to Work for LBGTQ Equality,” receiving a top score of 100% in The Human Rights Campaign’s (HRC) Corporate Equality Index. The Index is a national benchmarking report evaluates corporate policies and practices related to LGBTQ workplace equality.
In the fall of 2017 both the U.S. House of Representatives and the U.S. Senate debated various tax reform proposals. After much back and forth, lawmakers approved the “Tax Cuts and Jobs Act,” which has been signed into law by President Trump. The law did not include rules that would have further limited contributions to tax-deferred plans in retirement plans, a proposal termed Rothification, which favors after-tax, Roth-style plans. This result was considered a decisive win by the financial services industry.
LPL is proud to welcome advisors who chose to affiliate with the firm in the fourth quarter of 2017. Select new advisors, their approximate respective assets served* as of a recent date prior to joining LPL, and their respective former firms are listed below. The list is exclusive of those advisors who joined LPL as part of its purchase of the broker/dealer network of National Planning Holdings, Inc.
Donald Stahl, LPL senior vice president, and Peg Gaston, Investment & Planning Services manager at Rochester, N.Y.-based ESL Federal Credit Union (ESL), discuss ways LPL’s technology has enabled the institution’s wealth management program to implement a successful segmentation strategy and expand its financial planning offering, which, according to ESL, helped drive growth for the program over the past two years.
Starting and maintaining a retirement plan can be a major undertaking for small businesses, and it can also be a huge expense. An LPL study with small business owners showed that cost and complexity are, in fact, the biggest factors preventing small business owners from offering a retirement plan to employees.
LPL Financial and its advisors were ranked No. 1 for client loyalty among financial distributors, based on a recent survey of affluent U.S. investors. The findings were recently released in a Cogent Wealth Reports (“Cogent”) study, “Investor Brand Builder,” published by Market Strategies International. The study also reported that LPL earned the No. 1 spot among each of the top five drivers that investors attributed to creating loyalty, including quality of investment advice and financial stability.
Today, the North American Securities Administrators Association (NASAA) announced a settlement structure with us related to our compliance with “blue sky” laws. In announcing this agreement, NASAA is representing a coalition of 52 U.S. states and territories, each of which is expected to enter separate administrative orders against the firm, tracking the terms announced by NASAA today.
We continue to listen to advisor feedback to deliver a better experience. In the videos below, LPL president and CEO Dan Arnold, and managing director and divisional president, National Sales and Consulting, Andy Kalbaugh, share how the firm is focused on implementing technology, service and policy changes to make it easier for advisors to operate their practices.
LPL Financial today announced the names of additional select top firms and advisors from National Planning Holdings, Inc. (NPH)—those from INVEST Financial Corporation and SII Investments, Inc. —that chose to join LPL. Each firm or advisor reported, based on prior business*, having served more than $100 million of client brokerage and advisory assets.
LPL Financial today announced that Tom Anderton and Ryan Howard have joined LPL and aligned with 626 Financial, an independent firm on LPL’s broker-dealer and corporate advisory platforms. Anderton and Howard reported that, based on prior business*, they served approximately $230 million of client brokerage and advisory assets, as of Feb. 22.
LPL Financial today announced that Ric Kellogg has joined LPL’s broker/dealer platform and aligned with IHT Wealth Management (IHT), an independent advisory firm on LPL’s hybrid registered investment advisor (RIA) platform. Kellogg reported that, based on prior business*, he served approximately $123 million of client brokerage and advisory assets, as of March 29, 2018.
At LPL, nurturing a diverse and inclusive work environment is a priority to be able to attract and retain talented employees. Chief Diversity Officer Lisa Toppin recently discussed how engaging and empowering employees delivers outcomes on not just employees, but clients and communities as well.
LPL Financial will implement a plan to use a portion of company savings generated by the recent federal tax reform to help employees reach their retirement goals. Beginning May 1, LPL will increase its 401(k) match from 65 percent of employee contributions to 75 percent, up to eight percent of eligible wages. New employees will also be able to qualify for matching funds sooner, reducing wait time from one year of employment to six months.
Jason Crawford, LPL senior vice president, Financial Planning and Insurance, and Michelle Page, LPL senior vice president, Business Consulting, discuss how financial planning creates an opportunity for advisors to grow their businesses by delivering more value to existing clients, and how to incorporate the approach within their practices.
May 14, 2017, marked an important date for Robert Russo: the 10th anniversary of his partnership with LPL Financial. Robert, CEO and managing partner of LPL-affiliated hybrid RIA firm, Independent Advisor Alliance, recently reflected on the milestone and how LPL’s independent platform helped him take his business to the next level.
Conor Delaney’s parents were school teachers who lived paycheck to paycheck. Despite their knowledge and success in academia, they were unaware of the importance of investing or retirement planning, and they struggled just to pay the monthly bills, filing bankruptcy twice. Then, just days after Conor graduated from high school in 2003, Conor’s father died suddenly at age 52.
LPL Financial today announced the names of select top National Planning Holdings, Inc. (NPH) firms—those from INVEST Financial Corporation and SII Investments, Inc. —that chose to join LPL. Each firm reported that, based on prior business*, it served more than $500 million of client brokerage and advisory assets.
Sara Nomellini, LPL senior vice president, Corporate Real Estate, was recently recognized as Corporate Real Estate Executive of the Year for the Carolina region by CoreNet Global, a professional association dedicated to the advancement of the corporate real estate industry.
LPL is proud to announce that our Carolinas campus has been honored with a Green Gala Sustainable Business Award for innovative interior design. The Green Gala Awards are presented annually by the North Carolina and South Carolina chapters of the U.S. Green Building Council (USGBC), recognizing excellence and innovation in sustainable design practices.
LPL is proud to announce the firm’s Carolinas campus in Fort Mill was awarded Charlotte Business Journal’s Heavy Hitters Awards for Top Office Development. The annual awards recognize outstanding commercial real estate projects in the Charlotte area.
LPL is proud to announce that the firm has received a Blue Diamond Award for the business value delivered to advisors through its enhanced digital wealth platform, ClientWorks. The Blue Diamond Awards are presented annually by the Charlotte Chamber of Commerce and the Charlotte Area Technology Collaborative to recognize technology innovation and talent in Charlotte, where LPL is based.
LPL Financial was recently honored for its service excellence by DALBAR, Inc., a leading financial services market research firm. LPL’s Worksite Financial Solutions* and Investor Solutions call center support teams, which serve LPL advisors managing retirement plans and the participants in those plans, earned Recognition of Excellence Awards for their high level of service.
LPL Financial is proud to announce that 27 LPL advisors and advisor teams are included among the 2017 Top 100 Retirement Plan Advisers list published by PLANADVISER, a leading industry publication reporting on the retirement plan industry.
LPL Financial is honored to announce that 10 of its advisors are recognized in the 2017 Financial Times Top 400 Financial Advisors list. The list is produced by Financial Times, a leading financial industry publication, in collaboration with Ignites Research, a subsidiary of Financial Times.
LPL Financial is proud to announce that 27 of its advisors are included in the 2016 National Association of Plan Advisors (NAPA) Top Women Advisors ranking published by NAPA Net,the editorial arm for NAPA. The annual list recognized 110 women advisors for their significant contributions to the retirement plan industry.
LPL Financial is proud to announce that 21 of its advisors are recognized in the 2016 “Top 100 Bank Advisors” ranking published by Bank Investment Consultant (BIC), a leading information source for bank and credit union financial advisors.
LPL Financial today announced the firm has achieved a top score of 100% in The Human Rights Campaign’s (HRC) Corporate Equality Index (CEI), recognizing the company as one of the “Best Places to Work for LGBT Equality.”
Michelle Oroschakoff, LPL managing director and Chief Legal and Risk Officer, recently received Linkage’s Executive Impact Award for being a champion of advancing women leaders. Michelle recently reflected on the influences that have shaped her leadership style and the ways she has been able to empower others.
LPL Financial is proud to announce that Susan Kaplan of Kaplan Financial Services in Newton, Ma. was ranked among the 2018 Top 100 Financial Advisors in America by Barron’s, a leading financial magazine.
LPL Financial is proud to announce that four of its advisors are recognized in the 2018 Financial Times Top 400 Financial Advisors list. The sixth annual list is produced by Financial Times, a leading financial industry publication, in collaboration with Ignites Research, a subsidiary of Financial Times.
LPL Financial is proud to announce that 26 LPL independent advisors were ranked among the Top 1,200 Financial Advisors in America by Barron’s, a leading financial magazine. In addition, two LPL advisors were ranked No. 1 in their respective states, including Charles Zhang of Michigan and Jeffery Vincent of Wyoming.
LPL Financial is proud to announce that eight program managers on LPL’s Instituion Services platform have been recognized among the 2017 Top 25 Program Managers published by Bank Investment Consultant (BIC), a leading information source for bank and credit union financial advisors.
LPL Financial congratulates six affiliated advisors who were named to the 2017 InvestmentNews 40 Under 40 list. The annual award honors professionals in the financial advice industry for their success and contribution to the industry at large.
LPL Financial is proud to announce that 40 affiliated advisors have been recognized among the 2017 Financial Times Top 401 Retirement Plan Advisors. The list is produced by Financial Times, a leading financial industry publication, in collaboration with research partner Ignites Research, a subsidiary of the publication that provides business intelligence on asset management.
LPL Financial is proud to announce that 18 of its affiliated advisors have been recognized among the 2017 Top 100 Bank Advisors published by Bank Investment Consultant (BIC), a leading information source for bank and credit union financial advisors.
LPL Financial is proud to announce that 20 LPL advisors have been included among the Top Retirement Plan Advisors Under 40 published by NAPA Net, the editorial arm of the National Association of Plan Advisors (NAPA).
As part of the kick off to LPL Financial’s annual advisor conference, dozens of LPL Financial advisors and employees spent Sunday afternoon sharing leadership skills with 50 Boston-area ninth graders. The volunteer event was hosted by LPL Financial Foundation in partnership with Boston’s Crossroads, a nonprofit organization that provides guidance, resources and leadership skills to underserved youth.
Nearly 250 LPL employees recently volunteered in their local communities as part of the firm’s seventh annual May Serve Days, a month-long demonstration of volunteerism in LPL’s home office locations, including San Diego, Charlotte and Boston.
LPL Research Senior Vice President Matthew Peterson recently served as the corporate host for the LPL Financial Foundation’s fourth annual Personal Finance Symposium to educate local high school students. Organized in partnership with Junior Achievement, the event gathered LPL employee volunteers and 80 Garinger High School students to explore the fundamentals of personal finances, including topics such as saving, budgeting, and credit and risk management.
Bob Fragasso is all too aware of the alarming statistics of suicide, family abuse, and Post-Traumatic Stress Disorder facing veterans returning from active duty. He served in the U.S. Marine Corps for six years before entering the financial services industry.
College students enriched their summer internship experience at LPL by volunteering in LPL’s local communities. In San Diego, LPL interns helped the Boys & Girls Clubs of Greater San Diego host an Olympics-style competition for 650 youth at the 4S Ranch Branch. Interns working at LPL’s Fort Mill, S.C., location contributed their time to improve the Anne Springs Close Greenway, a 2,100-acre nature preserve adjacent to LPL’s Carolinas campus.
LPL Financial welcomed 25 Fort Mill Middle School students to its new Carolinas campus on Nov. 16 for the launch of the Big Brothers Big Sisters “Beyond School Walls” mentorship program. This is the fifth year LPL has taken part in the program, which matches LPL employees with middle school students in need of a mentor in order to help them with life skills and a career vision.
As part of LPL’s 2017 Focus conference, the LPL Foundation hosted a volunteer event to support two Boston-area nonprofits. More than 40 volunteers, including LPL advisors, executives and employees took part in mentoring at-risk youth and assembling 500 school supply kits.
LPL Financial is proud to award the 2017 LPL National Merit Scholarship to nine rising college students. The $1,000 renewable scholarships are given annually to college-bound children of full-time LPL employees and LPL advisors. In addition, LPL awards scholarships to three students that are involved with charity partner organizations in each of LPL’s office locations.
With the school year well underway, high school seniors are preparing to apply to colleges and thinking about their future careers. With the support of the LPL Financial Foundation, Junior Achievement and mentorship from LPL employee volunteers, 150 students are now more prepared for what lies ahead.
Nearly 300 LPL Financial employees recently volunteered as part of LPL’s 6th annual May Serve Days, a month-long demonstration of volunteerism in communities surrounding the firm’s three office locations, including Boston, the Carolinas, and San Diego.
The LPL Financial Foundation partnered with Junior Achievement to host an inaugural educational symposium for underserved high school students in San Diego this week. Over 20 LPL employee volunteers from LPL’s San Diego office donated their time to share important workplace skills, such as conflict management, networking and interview skills, with 75 seniors from Hoover High School. For one LPL employee volunteer, it was a moment that brought him full circle in his own education and career.
The San Diego Association of Government (SANDAG) recently recognized LPL Financial for encouraging employees to choose a commute that helps reduce greenhouse gas emissions and traffic congestion. LPL was one of 67 regional employers recognized by SANDAG, and one of only 16 to achieve the award’s silver status. LPL partnered with SANDAG’s iCommute program in 2016 to identify, provide and promote eco-friendly commuting options for the more than 1,730 individuals working in LPL’s San Diego office.
LPL Financial has demonstrated its continued commitment to giving back to the communities where its employees work and live by making a $50,000 donation to the Anne Springs Close Greenway in Fort Mill, S.C.