LPL Financial Earns Spot Among 2021 Fortune 500 List
“The performance of our company is a testament to the extraordinary work our financial advisors do for their clients and the dedication of our team to deliver on our mission to take care of our advisors so they can take care of their clients.” - Dan Arnold
SAN DIEGO – June 3, 2021 – LPL Financial Holdings Inc. (Nasdaq: LPLA) today announced its inclusion in the 2021 Fortune 500 ranking for the first time in the company’s history. LPL was ranked No. 466 among the esteemed list of the largest U.S. companies ranked by annual revenue. LPL reported record revenue of $5.9B in 2020, an increase of nearly 37% over the last three years.
“The performance of our company is a testament to the extraordinary work our financial advisors do for their clients and the dedication of our team to deliver on our mission to take care of our advisors so they can take care of their clients,” said Dan Arnold, LPL CEO and president. “We maintain an unwavering commitment to advisor independence, a model that is increasingly preferred by both advisors and investors as the marketplace seeks choice, transparency and personalized experiences.”
LPL’s inaugural appearance on the Fortune 500 list is a reflection of the company’s accelerated growth over the last few years. LPL was founded in 1989 to support independent financial advisors, guided by a belief that Americans deserve access to objective advice from a trusted financial advisor. LPL believes the model is best for both advisors and investors, giving advisors the freedom and flexibility to build their perfect practice and place the needs of their clients at the center of the relationship.
The company’s total advisory and brokerage assets grew to $500 billion by 2016, and have doubled over the last five years to surpass $1 trillion, as of April 30, 2021. Today, LPL has more than 4,800 employees aligned as one team on one mission to support more than 18,000 advisors and 800 financial institutions, who serve more than six million investor accounts.
Arnold added, “As we continue to grow, we enhance our ability to make investments in new capabilities and solutions to further power advisors’ businesses. It is through partnership with our advisors that LPL strives to continue to lead into the future of advice.”
In its 67th year, the Fortune 500 ranks U.S. companies based on a review of the prior year's total revenue and factors such as profits after taxes, year-end assets and total stockholders' equity. For the complete 2021 Fortune 500 list, visit http://fortune.com/fortune500.
About LPL Financial:
LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader* in the markets we serve, supporting more than 18,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to objective guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.
* Top RIA custodian (Cerulli Associates, 2019 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S (Based on total revenues, Financial Planning magazine June 1996-2020); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report)
Securities and advisory services offered through LPL Financial LLC, an SEC- registered broker-dealer and investment advisor. Member FINRA/SIPC.
Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial LLC. We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.