LPL Financial Launches Independent Advisor Institute

LPL Financial

Innovative new program supports LPL advisors’ sustainable growth through development of next-gen advisors.

CHARLOTTE, N.C. – Oct. 1, 2018 – LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced it is currently sourcing and qualifying associate and managing advisor candidates for its new Independent Advisor Institute (IAI). The program pairs new-to-the-industry advisors with existing LPL advisors in an effort to accelerate career development while supporting advisor growth and laying a foundation for long-term success. The next class of the IAI will launch January 2019.

According to the U.S. Bureau of Labor Statistics, the labor demand for financial advisors is expected to grow by 30 percent between 2014 and 2024, yet half of all financial advisors plan to retire within the next 14 years, according to a Cerulli report*. Despite the growing need for both financial advice and guidance, only one-third of firms report feeling confident in their business’ ability to effectively support current or future hiring decisions, according to a Financial Advisor Insider study**, likely preventing them from taking the next steps toward growth.

“The Independent Advisor Institute is designed to help overcome the hurdle of hiring and training a new advisor, enabling LPL advisors to remain focused on their clients as they gain a resource for growth,” said Jeffrey Czajka, LPL vice president, Corporate Strategy, who oversees the program. “In addition, it helps to secure the future of advice in the independent space.”

With the IAI, LPL and managing advisors are jointly invested in onboarding and developing new advisors to create better outcomes for their success. LPL helps managing advisors identify and hire qualified associate advisors. During the first year, LPL subsidizes the associate advisor’s compensation, offsetting some of the managing advisor’s financial risk, while empowering the associate advisor’s success by delivering a structured training and development program. The programming is focused on support to help them earn their licenses, education on LPL’s new technologies as well as sales and advice skills necessary to help investors pursue their financial goals. Managing advisors provide ongoing mentorship and on the-job-training, with continuing support from LPL to help associates build on their skills in ways that can add the most value to their firm.

“At the end of the program, we believe advisors will have a trusted partner who understands the drivers of their business and is invested in the firm’s success,” Czajka said.

Related Content:

Tim Kelly took part in the pilot rollout of IAI beginning in early 2018. “The best way to create value in your own business is to have someone to come in behind you that’s going to take over.” Hear what Tim had to say about being a managing advisor in this video.

The IAI set up Cole Kelly, associate advisor with Discovery Financial Centers, for success by providing accountability and support. Watch Cole’s video.

Find out more about becoming an associate advisor at


About LPL Financial

LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker-dealer***. We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.

Securities and Advisory Services offered through LPL Financial. A registered investment advisor, Member FINRA/SIPC.

* U.S. Advisor Metrics 2016

** T.D. Ameritrade/Financial Advisor Insider Study 2017

***Based on total revenues, Financial Planning magazine June 1996-2018

Discovery Financial Centers and LPL Financial are separate entities.