LPL Financial’s Month in Headlines: Award-Worthy Growth

Last Edited by: LPL Financial

Last Updated: October 28, 2021

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LPL’s Newest Partners

TBT Financial Services joins LPL following a decade with their former firm.

LPL Financial welcomed the six-advisor team from TBT Financial Services, which includes Jerry Martin, Jon Cromer, Mitzi Bjork, Carl Newman Jr., Curtis Hinshaw, and Clint Quinn, in a recent TBT Financial Services press release.The move has been featured in recent headlines which have focused on the firm’s success and their decision to leave their previous firm, after more than a decade, to join LPL. TBT’s move coincides with their plans for continued growth. TBT’s own, Jerry Martin, expanded on those goals in his statement:

“We’re making a series of positive changes that will help us enhance the way we serve our clients, expand our capabilities and position us for long-term sustainability and growth. Through research and due diligence, we believe that LPL provides us with the best opportunity to maintain our independence while we expand the practice.”

Next year, TBT Financial Services intends to move to a bigger location that can house their supportive staff and their increasing book of business--and focus on their rebrand. With LPL’s technology investments, and innovative tools and platforms, business owners can find what they need to better serve their clients’ needs.

Scott Posner, LPL executive vice president, Business Development, welcomed TBT while echoing LPL’s goal of helping advisors succeed on their terms. “At LPL, we are deeply committed to giving advisors choice and flexibility so they can build their perfect practice – for today and for the future,” Posner said, adding, “We look forward to a long-lasting relationship with TBT Financial Services.”

LPL’s Business Models

LPL grows as two employee business models gain mass appeal.

LPL Financial’s business models, LPL Strategic Wealth Services and Linsco by LPL Financial, have both received some attention within the industry. InvestmentNews’ recent article detailed the unique dual pay structure of Linsco by LPL Financial, which allows advisors to continue controlling and growing their practice without having to run their own business. Similarly, LPL’s Strategic Wealth Services business model gives advisors more flexibility to grow their practice by supplying the supportive team behind them to execute business tasks.

In a recent article from Barron’s, LPL’s growth is strongly attributed to its innovative business model options, including Strategic Wealth Services. In the same article, LPL Financial CEO, Dan Arnold, notes LPL’s unique ability to appeal to more advisors by meeting their needs as their business evolves along the way. “If we create enough flexibility on our platform, maybe you start with us on one model and 10 years later you want to move to another, and 10 years after that, you can move to another,” said Arnold.

Each of these models offer more of what LPL continues to create: more options for advisors. As advisors’ business needs change, they are more and more likely to find the tools they need right where they are at LPL Financial.

Awards & Recognition

LPL Financial recognized for its ‘Technology’ and ‘Corporate Social Responsibility/Diversity.’

While it was an honor for LPL Financial just to be nominated, it was just as much an honor to win at’s 2021 Industry Awards. LPL Financial won in two major categories—including ‘Technology’ (featuring finalists such as Raymond James, Advisor Group, and Kestra Financial) within a year described as “the most competitive year ever” for the awards by the hosts.

LPL’s integrated platform, ClientWorks—designed to help financial advisors run their business more efficiently and intuitively from one single location--sealed the win in tech.1 LPL’s Advisor Diversity & Inclusion Initiative, won the ‘Corporate Social Responsibility/Diversity’ category—following a year driven by LPL’s commitment to diversity and inclusion.

LPL’s series, “Around the Table,” featured diverse advisors sharing their unique experiences and the value of mentorship and investing in the Black financial advisor business community. The category win also comes during a year in which 19 LPL advisors were featured in Forbes’ Top Women Wealth Advisors list.3

The Industry Awards aims to celebrate those that “demonstrate outstanding achievement in support of financial advisor success”—something LPL aims at every day through our platforms, services and support. Winning two such distinct categories, signals recognition of LPL’s dual efforts to bring both industry-leading tech and industry-leading change to the financial landscape. Both of these efforts fall under one mission of “helping our advisors help their clients.”

Leadership, Diversity, & More

LPL welcomes Cara Dailey to executive team.

LPL has welcomed new Chief Data Officer, Cara Dailey, to LPL Financial’s executive team. Dailey’s decision to join LPL, and bring her extensive experience across a wide range of industries to the firm, were detailed in a recent LPL press release announcement. Dailey is a trailblazer in a variety of male-dominated sectors and will no doubt bring valuable insights to LPL’s forward-focused initiatives. Outside of her new role at LPL, Dailey serves as an advisory board member to the Women’s Business Collaborative (WBC), which focuses on increasing gender and diversity parity and helping female leaders advance in the industry.

Dailey’s move to LPL from Silicon Valley Bank was featured in ThinkAdvisor’s ‘Women in Wealth’ section, which highlights notable women in wealthtech and fintech industries. Included in the article were words from LPL managing director and divisional president, business development, Rich Steinmeier. “Cara brings a depth of experience leading enterprise-wide data management and governance programs and implementation strategies that drive business and digital transformation,” he said. He also noted that with Dailey’s addition to LPL Financial, the firm would “gain a talented leader to accelerate [LPL’s] data journey” and “capacity to leverage data and analytics as a strategic asset across the firm.”

Dailey shared more on what she sees in LPL, saying, “LPL’s commitment to create a highly personalized experience that meets individuals’ needs is a game-changer in today’s financial services landscape.” As for her role as CDO, she’s looking forward to “enabling those personalized experiences with trusted data and partnering with [her] colleagues to deliver analytical capabilities to the organization and our clients.”


The views and opinions expressed by the LPL Financial Advisor(s) may not be representative of the views of other Financial Advisors and are not indicative of future performance or success. Neither LPL Financial nor the LPL Financial Advisor can be held responsible for any direct or incidental loss incurred by applying any of the information offered. TBT Financial Services and LPL Financial are separate entities.

1 Awards Category Criteria for 'Technology':

  • A new initiative, program, or enhancement to an existing platform that helps B/D advisors to be more efficient, and enhances the advisor and client experience though technology.
  • Initiatives can include areas such as new cloud platforms, mobile apps, driving adoption of existing technologies, streamlining various processes, integrating multiple systems, user interface improvements, process speed improvements, ease of use, new capabilities, new features, customizations, etc.
  • Criteria include quantitative measures—such as scope, scale, adoption, usage, feature set, etc.—along with qualitative measures such as innovation, creativity, new methods of delivery, etc.

2 Awards Category Criteria for 'Corporate Social Responsibility/Diversity':

  •  A new initiative, program, platform, charity, environmentally responsible, or industry content that will enhance the industry’s image, give back to the community, improve society as well as promote diversity and the next generation of advisors
  • Initiatives can include areas such as diversity programs, charitable endeavors, women’s initiatives, training programs, etc.
  • Criteria include both quantitative measures, such as specific feature set, usage, potential, scope, scale, etc. along with qualitative measures such as innovation, creativity, new methodologies, etc.

3  The Forbes ranking of America’s Top Women Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative and quantitative data, rating thousands of wealth advisors with a minimum of seven years of experience and weighing factors like revenue trends, assets under management, compliance records, industry experience and best practices learned through in-person interviews. This award does not evaluate the quality of services provided to clients and is not indicative of this advisor’s future performance. Neither LPL Financial nor the advisors pay a fee to Forbes in exchange for inclusion in the Top Women Wealth Advisors list.

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