LPL Financial Launches a Financial Literacy Program Based on the Lessons of Warren Buffett

Last Edited by: LPL Financial

Last Updated: January 16, 2024

lpl financial logo with financial literacy program text in image

SAN DIEGO – Jan. 16, 2024 – LPL Financial LLC today announced it will offer advisors access to a new financial acumen course, the World of Business Reading Group (WBRG), a financial literacy program inspired by the writings and speeches of Warren Buffett and developed by a team of Harvard Business School alumni. The 6-week program offers advisors a unique way to strengthen relationships in the communities where they live and work by providing them with the curriculum to teach free, interactive, experiential lessons to high school students, as well as children and grandchildren of clients.

The curriculum was developed iteratively through teaching more than 50 classes of high school students over the last four years by the WBRG, a pro-bono project of Collaborative Gain, a pioneering community of business leaders from the digital world. It was designed to equip the younger generation with a solid understanding of business concepts and provide a foundation of investment principles.

“Many young people move away from home and enter the world unprepared to manage their finances,” said Rob Pettman, Executive Vice President, Wealth Management Solutions at LPL Financial. “This course introduces students to the world of business and does so through the writings of one of the greatest investors and managers of all time, Warren Buffett. Students will learn foundational elements of investing and business that will serve them well, regardless of their professional and educational aspirations.”

A complementary extracurricular, the WBRG program helps deepen students’ critical thinking skills and expand on topics introduced in public and private schools.

“We are thrilled to help LPL Financial educate the next generation of investors and business leaders,” said Phyl Terry, Founder and CEO of Collaborative Gain, and Founder of WBRG. “Partnering together on this project seemed like the perfect opportunity to live out our mission of helping high school students become, in the words of Warren Buffett, 'learning machines.'"

By licensing the rights to this program, LPL Financial is offering advisors a unique way to interact with current clients and their children, while building the financial confidence of a new generation of investors.

In addition to advisors having the opportunity to directly offer this program in their communities, through LPL's generous financial support, the pro-bono team of Harvard Business School alumni at WBRG will now be able to fund and deliver the program to high schools with a high percentage of under-resourced students.

“Not only does this program help our advisors grow relationships with clients, deepen community connections and help prepare the next generation to be good financial stewards, but we feel so deeply in its value that we wanted to not only support our advisor communities, but also help WBRG in its mission to reach high school students who don't typically get access to this kind of program,” Pettman added.

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that LPL should work for advisors and enterprises, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 22,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 560 registered investment advisor (RIA) firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional.

At LPL, independence means that advisors and enterprise leaders have the freedom they deserve to choose the business model, services and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships because they know their clients best. Simply put, we take care of our advisors and enterprises, so they can take care of their clients.

Securities and Advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States. Collaborative Gain and LPL Financial are separate entities.

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.

We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

About Collaborative Gain

Collaborative Gain has spent more than 20 years building communities where leaders help leaders learn and grow. Founded by Phyl Terry in 2002 with other internet pioneers like Marissa Mayer, then of Google, Elizabeth Peaslee, then head of product for Travelocity, Maryam Mohit, then of Amazon, and others, Collaborative Gain has worked with thousands of senior leaders at nearly every major company in technology, media, and finance.

In addition to its Executive Councils for senior leaders and its Associate Councils for up-and-coming women and people of color, Collaborative Gain also develops pro-bono programs that extends its mission of helping leaders learn. Programs include the World of Business Reading Group, the Never Search Alone community (which provides free services to anyone laid off or let go), Slow Art Day (a global art movement that reimagines the museum experience), and Reading Odyssey (a collaboration between scholars at Cambridge, Harvard and elsewhere and adults who want to re-engage their curiosity and participate in lifelong learning).

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