The support you need, and the freedom to choose what you want.
At LPL Financial, you have access to the tools, technology, and investment products you need to run your practice your way, and you don’t need to sacrifice your freedom of choice to get the support you need to thrive. Instead, you’ll find the complete access you want and the ability to pick which capabilities fit your unique business.
Preserving this balance of support and freedom is our guiding light, and our only client is you – the financial advisor. Every option we offer is constructed with you in mind, but we’ve come a long way to get here. Because we’ve evolved significantly in the past several years, there are still many myths out there about who we are and what we’re about.
Here, you’ll discover the top three myths we hear about LPL all the time, as well as the truth of where we are today. Rob Pettman, executive vice president of Wealth Management Products at LPL Financial, shares the reality of where we are as a firm now, what we offer, and where we’re headed. As you evaluate the best partner to help you reach your personal and professional goals, consider if some of the capabilities we now offer could help you get where you want to be.
“While you are what helps your clients succeed, technology is what can help you succeed."
Myth: I’ve heard LPL really only offers advisory solutions — or at least limited brokerage products.
Reality: LPL offers access to a complete suite of brokerage products and fully supports a brokerage platform.
LPL Financial actually started as a broker/dealer firm that only offered brokerage products until we were one of the first to provide an innovative rep-as-portfolio-manager platform to advisors in 1990. We still have access to a full suite of brokerage products, as we intend to provide advisors the ability to run their business the way they choose — and one of those options is a brokerage platform. You can access brokerage mutual funds, exchange-traded products, annuities, insurance, alternative investments, and more.
At the same time, with LPL, you get access to a leading advisory solution with options for every type of client — from a digital investment platform for younger clients to open architecture and strategist options for the mass affluent to high-net-worth solutions like separately managed accounts.
Discover more about LPL’s products and platforms.
Myth: I’ve been told LPL’s technology is outdated and unsupportive of financial advisors.
Reality: LPL’s technology is now on the leading edge of the industry and continues to evolve. Our sights are set on becoming a true fintech company, providing you every technology tool you need to suit your ideal business model.
Several years ago, we had a realization: while you are what help your clients succeed, our technology is what can help you succeed. In fact, when we asked advisors what was most important to them, they said technology. This realization has changed our entire approach. Instead of thinking of technology as a supplement, we see it as one of our core offerings.
As a result, we’re specifically developing tools and technology ideally suited for you as a financial advisor and solving the issues you face every day. We don’t sell products, but we curate them for your use. Because we own the whole ecosystem, we can change and develop it as needed – and in response to ongoing advisor requests and feedback. Today, our offerings are cutting edge, but as we continue down this path, we see ourselves developing into a revolutionary fintech company, all in service of our advisors.
Find out more about LPL’s current technology solutions.
Myth: It’s my understanding that LPL is the Wal-Mart of broker/dealers — they’re great for the middle market but don’t necessarily have solutions that can address my wide range of client needs, especially the high-net-worth.
Reality: We have solutions for every type of client, including the high-net-worth, and we’ve cultivated niche solutions to help you grow in the markets you choose.
We’ve always been a champion of independence — in fact, LPL Financial was one of the first firms of its kind, built around the independent advisor. In recent years, we’ve worked to cultivate choices for every type of advisor, practice, and client imaginable.
Have a client who needs bespoke boutique investment options? We have an option for that.
Have a client who could use advanced planning or trust services? We have an option for that.
Want to get into the high-net-worth space? We have a team who can help.
Have a client with a small account and still want to serve them through a fee-based platform? We have an option for that.
Have a client who just needs a simple mutual fund? We have an option for that.
Have clients who need customized portfolios with access to different investment types? We have an option for that.
While we have a full suite of options suited for every type of client, we’re not done yet. We’re continuing to strive for more capabilities, more flexibility, and more choice among our solutions, so you never have to look elsewhere.
OK, so what truly makes LPL different?
At LPL, we specialize in one thing: financial advisors. We care most about serving you, and everything we do comes back to that. The investments we’re making in the firm and the solutions we’re continuing to deliver are all driving to helping you be what you want to be. Plus, we don’t just have the desire to develop the tools, technology, and platforms you need to reach your goals — we have the scale and stability to make it happen.
While we feel great about where we are today, our journey is never finished. We’re continuing to listen to advisors, so we can keep developing additional technology and products that provide what you need to best serve your client. By partnering with LPL, you get access to the tools and technology you need to get you where you want to be — and you also get an exciting future.