LPl Financial LLC is a large advisory firm based in Boston. It manages $159.1 billion of regulatory assets for 786,525 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.
LPl Financial provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, educational seminars and workshops, and consulting and other non-discretionary advisory services. It prepares financial plans for approximately 6,500 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of LPl Financial LLC is $159.1 billion. The firm's AUM has grown by 101% since the beginning of its operation, and $54.4 million of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay LPl Financial LLC for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and commissions. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Dan Hogan Jr Arnold is high net worth individuals with 166,895 clients and $88.51 billion of assets under management. Among the 10 most similar advisory firms, LPl Financial has the highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $159.1 billion for 607,094 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.
LPl Financial doesn't advise any private funds.
The company employs 22,790 people that are either part- or full-time employees. 69 percent of the employees work as investment advisers or researchers. 11,548 employees are registered as investment adviser representatives with the state securities authorities.
There are 39 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.
Dan Hogan Jr Arnold has been acting as President since 1 Mar 2015. Matthew J Pechulis joined the executive team most recently as the Senior Vice President, Accounting And Principal Financial Officer.
The principal office where LPl Financial LLC performs its advisory services is located at 75 State Street, 22 Nd Floor, Boston, MA 02109, which is also the mailing address of the firm. An additional office of the firm is in Troy, MI. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 617-423-3644 or by fax 617-526-8589. The normal business hours are 8:30am - 6:00pm on Monday - Friday. You can find more information about the New York firm at lpl.com.