Part 4: What’s next for LPL and the financial services industry?
We know that our environments will always continue to change – from industry shifts to business challenges to life events that influence our priorities.
And in an industry that is increasingly more and more demanding, it’s not enough to merely ride this wave of change. Advisors need to be in front of it. In charge of it. At LPL, it’s our responsibility to ensure we’re ahead of it – right along with you – so we’re always ready to offer the support and flexibility you’ll need.
We are fueled by a single question: What’s next?
Where do you see yourself in 10 years?
When we look ahead at what the next 10 years may have in store for financial services — and what that means for you, our advisors – we see tremendous opportunity ahead.
For LPL, we want to push past our old vision to maintain leadership in the independent space, and become the leader across the entire advisor-centered marketplace. That’s where we see the industry headed. And that’s where we see incredible opportunity for our advisors.
To put numbers behind that opportunity, there is approximately $33 trillion in assets in wealth management today. That number is expected to grow to $50 trillion in the next 10 years, with $25 trillion of that sitting in the advisor-centered model.
The advisor-centered model is exactly how it sounds. It puts the advisor at the center of the investor relationship — not the firm. The advisor is enabled by the firm, leveraging their unique skills to take care of their clients in a comprehensive and emotionally relevant way.
LPL’s foundation of putting the advisor first puts us in a position to lead in that model and offer premier support to advisors in that space. Our confidence in the growth of the financial advice space and our commitment to the advisor-centered model is shaping our strategy as a firm. You are at the heart of that strategy. Because when it comes to moving our industry forward, we believe advisors know best.
Your greatness is our goal
Three core tenets ground us in our vision and commitment to our advisors:
We’re stronger together. We have the ability to build a better future for financial advice when we work with you, our advisors. The strength of our partnership will enable us to build a better tomorrow.
Advisors thrive with freedom of choice. Success isn’t born from one-size-fits-all solutions. It happens when each individual is empowered to dictate their terms and run their practice their way.
Your potential is limitless. You’re supporting your investors in a world of change, delivering expertise that’s nothing less than exceptional, while building your own success. Our purpose is to enable you to do all of that and more. To unlock your potential, amplify your accomplishments, and support you at every turn.
At LPL, your greatness is our goal.