LPL History

Our History

LPL was formed in 1989 through the merger of two small brokerage firms, Linsco and Private Ledger (founded in 1968 and 1973, respectively).

LPL’s 30th anniversary

At the heart of our founders’ vision was freedom and independence. Thirty years later, this purpose continues to drive everything we do. We congratulate all of our advisors1, past and present, for helping millions of Americans enjoy better, more secure futures.

As we look ahead to the next 30 years, all of us at LPL will continue to keep financial advisors at the heart of everything we do.


Founded for financial professionals

LPL Financial was formed in 1989 through the merger of two small brokerage firms, Linsco & Private Ledger (founded in 1968 and 1973, respectively).

By merging these two companies, the founders of LPL sought to create a trusted alternative to Wall Street firms, one in which financial advisors could build highly competitive businesses while always doing what is right for their clients. Today, we are the largest independent broker/dealer in the country* supporting more than 16,000 financial advisors.

In 2005, LPL sold a 60% ownership stake to two private equity partners, Hellman & Friedman LLC and Texas Pacific Group, both strongly committed to maintaining the independence of the firm. In November 2010, the parent company of LPL, LPL Financial Holdings Inc., first became publicly traded on NASDAQ under symbol LPLA.

As we continue to grow and look to the future, LPL is committed to remaining a trusted resource for our advisors and their clients. The financial services industry, markets, and world are changing fast, while people are living longer and facing more complex financial needs. At the same time, investors are increasingly seeking to partner with financial advisors who offer guidance to help them face today’s financial planning challenges. These factors mean that providing Americans with independent investment advice has never been more important than it is today.

Financial advisors and institutions need a partner that can help them meet the evolving needs of their clients. As a market leader, LPL is well positioned to enable our customers to help their clients do just that.

* As reported in Financial Planning magazine June 1996-2019, based on total revenues

1The intended audience of this communication is the general public and the purpose is to communicate the business operations of LPL Financial. Throughout this communication, the terms “financial advisor(s)” and “advisor(s)” include registered representatives and/or investment adviser representatives affiliated with LPL Financial LLC, member FINRA/SIPC and registered investment adviser.