Our goal is to foster an inclusive environment where everyone feels they can contribute to their best work, allowing us to better serve our clients and each other.- Michelle Oroschakoff, Managing Director, Chief Legal & Risk Officer
Diversity and inclusion are more than business imperatives or human resources initiatives for LPL. They’re the keys to harnessing the power of different ideas, backgrounds, and perspectives to drive growth, foster innovation, and create business value throughout our organization and our industry.
That’s why our vision is to be the most diverse and inclusive place to do business. From advisor recruitment and training to strengthening our culture of inclusiveness for all advisors and employees, we’re actively working to make this vision a reality.
Today’s investors are multi-generational, from various ethnic backgrounds, and include veterans, people with disabilities, single parents, members of the LGBTQ community, and more. All deserve access to objective financial advice. To reflect this diverse marketplace, we’re strengthening our focus on attracting, developing, and collaborating with an equally diverse range of advisors.
That includes developing resources to help our advisors grow their businesses by reaching and connecting with a wide array of investor groups. We’ve also created the LPL Advisor Inclusion Council. Comprised of representatives from advisor firms and institutions, their mission is to foster greater awareness and understanding of cultural markets.
In addition, programming relating to advisor and investor diversity is increasingly becoming a highlight at Focus, LPL Financial’s largest advisor conference. These and other initiatives are important in differentiating what we do as a company, supporting our network of advisors, and helping to make objective financial guidance available to everyone.
Attracting and retaining a workforce that reflects the diversity of the communities in which we live and work continues to be a primary focus at LPL. Just as important is ensuring that we’re providing a welcoming and inclusive workplace for all.
We aspire to maintain a culture that supports, inspires, and respects everyone throughout LPL. We encourage all employees to participate in LPL’s overall success, whether through their individual talents and skills, their suggestions for better ways of doing things, or other contributions they choose to make.
Among the ways LPL fosters diversity and a culture of inclusivity is through our Employee Resource Groups (ERGs). ERGs bring together employees who share common interests and experiences.
Supporting professional development, as well as employee and community engagement, LPL’s ERGs sponsor a variety of events, including seminars, guest speakers, meet-and-greets, charitable activities, and more. LPL employees can join any existing ERGs, and are welcome to create new ones. Currently, over 30 percent of LPL’s employees belong to at least one ERG.
Current ERGs include:
Throughout the year, we also use podcasts, articles, and other materials and events to share perspectives and experiences that enable us all to understand each other. In addition, we take advantage of national awareness campaigns to learn about various cultures and ideologies. From African American History Month, Women’s History Month, and Hispanic Heritage Month to National Pride Month and National Diversity Awareness Month, we celebrate the contributions of various groups, learn how to overcome biases and break down barriers, and strengthen our resolve to keep doing more.
LPL Financial’s diversity and inclusion initiatives are making the news. Below are just a few of the stories.