What to Know When Your Financial Advisor Moves to LPL Financial

Your financial advisor has told you they’re moving to LPL. You probably have questions.
We've got answers.

LPL is a leading wealth management firm,* founded on the belief that everyone needs objective financial advice. We work with financial advisors and institutions to provide back-office support for compliance, trade execution, and other services. Here’s more information about LPL’s independence and heritage, and how that benefits you as an investor:

LPL did independence first. As early as 1989, the founders of LPL anticipated the growing desire for advisors to run independent practices. That’s why they decided to create a model that would flip the industry upside-down—one where the firm worked for the advisor instead of the advisor working for the firm.
LPL does independence best. Today, LPL lives as the archetype of independence – because we believe the future is advisor-led. As advisors continue to stay innovative and agile, LPL supports their ability to scale their service to clients and pursue their business goals.
LPL gives advisors the freedom and tools to enhance your experience. Your advisor is empowered to make decisions regarding investment strategies and products that are in your best interests.

Leadership, Size, and Strength

LPL’s size and scale offer investors unparalleled access to a wide range of financial products and services, ensuring comprehensive solutions tailored to their unique needs. With a robust network of advisors and cutting-edge technology, LPL provides the support and resources necessary to navigate the complexities of the financial landscape, helping investors achieve their long-term goals with confidence.

$1.7T

Total advisory and brokerage assets ¹

10M

Client accounts served by LPL advisors and institutions ²

1,200

Financial institutions ³

Company ⁴

Understanding the Move to LPL Financial: FAQs for Investors

Your financial advisor has recently made the decision to move to LPL Financial, and we understand that this change might raise some questions. This FAQ section is designed to provide you with clear and concise answers to help you understand what this transition means for you and your investments. From the safety of your assets to the benefits of the move, we’ve got you covered. If you have any additional questions, please don’t hesitate to reach out to your advisor.

Is my money safe?

LPL is a Financial Industry Regulatory Authority (FINRA) member firm subject to the federal securities laws and the rules of industry regulatory organizations. LPL works hard to carry out its obligations to protect client assets in its custody with the utmost care and scrupulous adherence to financial protection rules, including those governing the segregation of advisor assets.

Learn about our SIPC protection and other securities protection

Why did my advisor move to LPL?

LPL offers a wide variety of resources to help enable your financial advisor to better serve you.

While your advisor has specific reasons why they switched, here are a few reasons advisors have said they decided to move to LPL:

Independent research and objective recommendations instead of proprietary products. This gives advisors the freedom to provide guidance to you that is truly focused on your financial goals so you can make informed decisions.
Tools, technologies, regulatory expertise, back-office support, and more. They’re all designed to simplify account management, boost practice efficiency, and free up advisors’ time so they can provide you even greater personalized service.
Strong company culture. LPL values transparency, inclusion, working ethically, and focusing on clients and is committed to continuous improvement.

What does this move mean for me?

First of all, your relationship with your advisor won’t need to change. They will continue to give you sound advice based on your financial goals – only now, they can give you more choices. You’ll also have:

Independent research for objective guidance
Access to a wide range of non-proprietary products
Account View access to your account information, your documents, etc.
Multiple levels of security to keep your accounts safe

In most cases, all your accounts should be easily transferable with minimal paperwork. You might even take this time to talk to your advisor about trying a new kind of account. Once your accounts are opened, you can sign up for the online portal Account View. To learn more about how you can sign up for Account View, please refer to this how-to guide to walk you through the process.

Will I have to pay a transfer fee for the move?

No, there are no fees to you with transitioning your accounts.

Will all my holdings transfer?

Yes, virtually all of your holdings will transfer over.

What do I have to do during the transfer?

Your financial professional may have additional questions and you may have to fill out additional paperwork if you have multiple accounts. In most cases, all forms can be completed with eSignature and you will not have to go into your advisor's office to finalize the transfer of your accounts.

LPL welcomes you and your advisor's business. We serve independent financial advisors because we believe they’re best positioned to serve the investor. They bring a personal approach, and we bring the resources of a nationally leading wealth management firm.

LPL'S EXPERIENCE CAN MAKE A DIFFERENCE FOR YOU

28,900

LPL Financial supports over 28,900 financial advisors across the country. This extensive network ensures that you have access to a wealth of expertise and resources, all dedicated to helping you achieve your financial goals.

100%

As cyber threats continue to evolve and make headlines, you can rely on LPL’s security teams’ capabilities to defend against potential cyber incidents to minimize the potential impact to LPL accounts. Our Information Security, Privacy, and Fraud organizations work together to make LPL a firm you can trust.

98%

LPL's retention rate of 98% speaks volumes about the satisfaction and loyalty of its advisors. They appreciate the autonomy to make decisions that are best for their clients, the flexibility to tailor their practices to meet individual needs, and the comprehensive support that LPL offers.

Zero

Your advisor is never pressured to sell proprietary products, ensuring that the recommendations you receive are always aligned with your best interests and financial goals. This independence allows your advisor to focus on providing unbiased, objective guidance.

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Stay informed about market trends and events with a weekly recap from LPL Financial’s Research team. Covering everything from quarterly earnings to current investment opportunities, these articles provide valuable insights and strategic recommendations to help you make informed decisions.

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Disclosures

1-8 Data as of December 2024

Throughout this communication, the terms “financial advisors” and “advisors” include registered representatives and/or investment adviser representatives affiliated with LPL Financial LLC, an SEC registered broker-dealer and investment adviser.