What to know when your financial advisor moves to LPL Financial

Your financial advisor has told you they’re moving to LPL and you probably have questions.
Let us ease your concerns.


Who is LPL Financial?

LPL is the nation’s leading independent broker/dealer. It was founded on the belief that everyone needs objective financial guidance. This makes us different from other firms because we don’t tell advisors what to sell. Every investor deserves to achieve his or her vision for financial independence through a relationship with a trusted advisor. And independent advisors who work for themselves are in a position to offer you objective advice on a wide variety of products and services that can benefit you.

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Data as of May 31, 2021
1 Fortune 500 ranks U.S. companies based on a review of the prior year's total revenue and factors such as profits after taxes, year-end assets and total stockholders' equity.
2 As reported by Financial Planning magazine, June 1996-2020, based on total revenue.
3 2020/2021 Kehrer Bielan TPM Survey. Based on financial institution market share.
4 Cerulli Associates, 2019 U.S. RIA Marketplace Report


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, diversity, working ethically, and focusing on clients and is committed to continuous improvement.

Read our brochure for more information about how LPL partners with your financial advisor.

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Data as of May 31, 2021
1 Fortune 500 ranks U.S. companies based on a review of the prior year's total revenue and factors such as profits after taxes, year-end assets and total stockholders' equity.
2 As reported by Financial Planning magazine, June 1996-2020, based on total revenue.
3 2020/2021 Kehrer Bielan TPM Survey. Based on financial institution market share.
4 Cerulli Associates, 2019 U.S. RIA Marketplace Report


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: 

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.

Here are some questions you might want to ask your advisor: 

  • 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, all 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. 

Together, we help turn your aspirations into realities.

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.