LPL Financial Recognized as Most Responsible by Newsweek

Last Edited by: LPL Financial

Last Updated: January 31, 2023

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LPL Financial has been recognized as one of Newsweek's America's most responsible companies for 2023. This is the fourth consecutive year that LPL has been named to the list and is the only financial services company to be recognized all four years. The rankings recognize companies that have excelled in environmental, social, and governance (ESG) practices. LPL was ranked #242 overall and #22 in the financial services industry out of 500 companies considered. This recognition from Newsweek helps to further solidify LPL's position as a leader in sustainable finance.

How Newsweek makes this decision

Newsweek decides its rankings based on a holistic view of corporate responsibility. Some KPIs in each category include:

Environmental KPIs:

  • Waste
  • Emissions
  • Energy Use
  • Water Use
  • Environmental Engagement

Social KPIs:

  • Leadership Diversity
  • Employees
  • Philanthropy & Engagement

Governance KPIs:

  • Disclosure & Transparency
  • Economic Performance

Recognition in these categories is a testament to LPL's dedication to operating responsibly and ethically, and to the hard work put into our ESG practices. John Brown, SVP of Sourcing & Procurement at LPL, and member of the ESG Steering committee stated, “being recognized by Newsweek helps to validate we are making great progress in our ESG journey. ESG has moved on from just being ‘the right thing to do’ for companies. We know that socially conscious consumers, our employees, vendors, Advisors and their clients are looking at socioeconomic and CSR factors as they choose who to do business with.”

At LPL, we work hard to reduce our impact on the environment and to make sure our business operations are socially responsible. LPL is proud to be a part of this distinguished group of companies, and believes that our focus on ESG practices sets us apart from other financial services firms and helps us create long-term value for our shareholders. We dedicate ourselves to operating responsibly and ethically to build trust with our clients and partners.

Corporate responsibility and sustainability in action

LPL's mission, "we take care of our advisors so they can take care of their clients" directly ties into ESG efforts as well. We are committed to operating in a sustainable and responsible way and will continue to focus on operating with integrity, promoting an inclusive financial system for all, and taking care of our advisors so they can take care of their clients. Visit LPL’s Our Culture page for more about LPL Financial’s mission.

As stated in LPL's 2022 sustainability report, our ESG vision is to "take care of our advisors and their clients by operating responsibly and ethically and strengthening trust with our mutual stakeholders." We focus on operations, culture, and business practices to ensure responsibility across the company. In operations, we strive to "reimagine the way we work to enhance social and environmental performance."

In culture we "promote a diverse and inclusive financial system for all," and in business we "enable advisors to thrive and incorporate ESG into investing and operations." Through these focus areas, LPL continues to put ESG best practices at the forefront of our business model and remains a leader in responsible practices.

Other ESG highlights from 2022 include:

  • Adding two additional permanent holidays for employees (Juneteenth and a floating holiday)
  • Our commitment to pay equity, with a review process that includes both gender and race/ethnicity
  • Investing over $1.7 million in our communities by the LPL Foundation, which includes over $105,000 through the matching employee gifts program

 To learn more about our sustainable business practices, visit the LPL Sustainability Report.

Why corporate responsibility matters to financial advisors

Working for a company that strives to be a good corporate citizen, like LPL, can benefit advisors in many ways. Building trust and open communication with our advisors allows their businesses to flourish. Leslie Dunham, VP of ESG at LPL and member of the ESG steering committee stated, “being recognized [by Newsweek] each year requires our company to be moving forward in all areas of running our business, never getting complacent, and strive to find ways to improve each and every year. In addition to our advisor and client-focused vision, this recognition lets employees and potential new employees know that LPL is a great landing spot.”

We also foster a workplace where people from diverse backgrounds, experiences, and perspectives can thrive. As part of our culture of inclusivity, we look to recruit and support advisors from diverse backgrounds, and strive to improve diversity in the financial industry as a whole.

As part of this mission, LPL has an Advisor Inclusion Council which meets three times a year. This council is made up of 21 advisors - 52% women and 51% advisors of color - who contribute solutions to three primary goals:

  • Attract more underrepresented financial advisors to the industry to help reflect the changing marketplace
  • Help advisors address barriers to growth and engage in new investor markets
  • Create and cultivate inclusive communities for advisors to connect, learn, and share best practices

The results of this program are tracked through recruitment and retention statistics, the attendance of LPL-hosted diversity and inclusion events, and engagement/satisfaction surveys. Based on this feedback, LPL has worked on several new initiatives including more inclusive marketing materials, expanded resources for diverse investor communities, and improved representation on LPL.com.

As LPL continues to grow, corporate responsibility remains at the forefront of our mission. Learn more about how LPL makes it easy door you to transition your business below.

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Disclosures

The views and opinions expressed by 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.