LPL’s Mission of Taking Care of Advisors Leads to $1 Trillion in Assets

Last Edited by: LPL Financial

Last Updated: September 09, 2021

LPL Financial’s Mission Leads to $1 Trillion in Assets image

LPL’s YOY’s add up to success

The summer of 2021 will forever mark a pivotal point of success for LPL Financial. As of June 2021, the firm officially holds over $1 trillion in brokerage and advisory assets. With an increase of over 2000 advisors in a year over year comparison, it seems LPL’s appeal is growing with financial professionals across the industry—including larger firms. Many of LPL’s most recent advisors join the firm through its partnership with thriving institutions such as Waddell & Reed, and M&T Bank.

In a recent interview, LPL Financial CEO, Dan Arnold, expanded on how LPL’s mission to “take care of advisors, so they can take care of their clients,” fueled LPL’s focus over the past year. The numbers seem to indicate that mission was accomplished. In regards to LPL’s success, Financial Advisor IQ noted “… advisory revenue shot up to $846.3 million during the second quarter of 2021, a 62% increase year-over-year.”

These accomplishments aren’t taken lightly by LPL, especially in light of the challenging past year which saw an upending pandemic and market volatility. However, these challenges are also what pushed LPL to pivot and adapt. And, ultimately created new opportunities for LPL to help its financial professionals thrive.

LPL Financial re-models industry standards

Much of LPL’s success is due to its business model offerings which allow financial professionals to personalize, pursue, and achieve their practice goals. The LPL Strategic Wealth Services model in particular, has been getting attention across the industry since its inception two years ago. It appeals to advisors looking to break away from the traditional wirehouse and pursue a more independent path of growth.

Through the Strategic Wealth Services model, practice owners have the team they need (including a CFO and marketing specialist) to assist in everything from real estate acquisition, brand development, and daily operations. Collectively, these models offer what many financial professionals already craved: flexibility and independence.

These two attributes have become more important to business owners who saw the pandemic change their industry overnight. Through LPL, financial professionals had access to the tech, tools, and support necessary to successfully transition to a remote office dynamic.

Helping advisors connect with clients

Last August, LPL announced plans to put $1 billion per year into developing the technology and services to help financial professionals keep their competitive edge during, and beyond, the pandemic. However, prior to that announcement, LPL was already offering many tools, experiences, and services to keep practices growing into the future.

In fact, part of LPL Financial’s original pre-pandemic strategy was to address the challenges, and create solutions, for financial professionals in a modern digital age. As new generations would become investors, financial professionals would find themselves facing new expectations. To continue growing, they would need to provide a more personalized, digitally-savvy investment approach for their clients. And LPL would help them provide that approach.

LPL’s increasing quantity of advisor assets reflects its continuing commitment to “help advisors help their clients.” With LPL, financial professionals gain the freedom to grow their business, and their numbers, their way.

Throughout this communication the terms “financial advisors” and “advisors” include registered representatives affiliated with LPL Financial LLC, and SEC registered broker-dealer and investment adviser.

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