LPL Financial Marks Five Year Anniversary of RIA Business with First ADVocate RIA Symposium

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RIA ADVocate Symposium 2013 brings together top advisers and firms to share the best practices for growth and profitability, and to discuss industry issues.

LPL Financial LLC, the nation’s largest independent broker-dealer, an RIA custodian, and a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today convened the 2013 ADVocate RIA Symposium, the first such event for LPL’s $55 billion RIA community, at Loews Coronado Bay Resort in San Diego.

LPL launched its RIA business in 2008, and today is the industry’s fifth largest custodian, with 235 RIA firms and more than $55 billion of RIA assets under custody. The ADVocate Symposium brings together top firms and advisors from across the country to share best practices for growth, efficiency and profitability, and discuss current industry issues.

“We chose to mark our five year anniversary in the RIA business by bringing together the firms and advisors that have played such an important role in our dramatic growth and to celebrate their success and LPL’s commitment to serving the RIA business model,” explained Matthew Enyedi, Senior Vice President, RIA Solutions. “During this period, we’ve worked closely with these clients to build a best-in-class account management platform that is flexible enough to suit firms of almost any size, and to develop the tools and services critical to helping them succeed.

“As our inaugural annual symposium convened, we are proud to mark our continued dedication to a platform whose growing popularity reflects the values of independence and flexibility LPL Financial offers to advisors. We hope that this symposium will help us continue to build our RIA community by bringing together our top advisors to deepen their connections with one another and with LPL. LPL Financial is an ideal cultural fit and partner for RIA businesses now and moving forward,” he said.

Symposium Highlights

Today’s agenda included general sessions, led by dynamic industry keynote speakers and breakout sessions geared for smaller group exploration and discussion.

  •     General Sessions. The general sessions featured “PEG Talks,” inspired by the successful TED Talks series, and will focus on the themes of Profitability, Efficiency and Growth. Speakers will include Michael Kitces, financial planning commentator and author of the popular blog Nerd’s Eye View; Philip Palaveev, CEO of The Ensemble Practice, a leading management consulting firm, and practice management consultant for ensemble advisory teams; and Burt White, Managing Director, Chief Investment Officer for LPL Financial Research.
  •     Workshops and Breakout Sessions. Interactive breakout sessions reflected areas of RIA interest and high priority concern, including RIA growth amplifiers, the use of digital and social media, succession planning, and new technology.
  •     Introduction of RIA Compliance ADVantage. LPL Financial announced a new compliance outsourcing service that will be rolled out during the first quarter of 2014 that will enable RIA firms to tap into LPL’s resources, experience and expertise in working with regulatory bodies. It will offer both an RIA Formation package to transition to the RIA or hybrid RIA model, and an Annual Support Package for ongoing compliance services
  •     Recognizing Pioneering RIAs. Another highlight of today’s event was an appreciation of the nine pioneering advisors who were the first to join the LPL RIA platform at its formation in 2008. For each of these advisors, LPL will donate $1,000 to the charity of their choice.

Dan Steichen of Pakola, Steichen & Company, one of LPL’s original RIA platform advisors, said, “Our relationship with LPL has helped us grow dramatically over the years, and we are proud and grateful to have had the advantage of working with such a forward-looking and dedicated partner.”

Pakola, Steichen & Company, based in Bloomington, MN, had assets under management of approximately $300 million as of December 1, 2013, an increase of almost 200% from its assets under management of approximately $104 million when it first joined the LPL RIA platform in 2008.

“We want to continue to serve as an advocate for RIAs by helping facilitate industry dialogue and collaboration, and we believe this symposium will be useful for achieving that goal,” said Enyedi.

About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), is     the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine, June 1996-2013), an RIA custodian, and an independent consultant to retirement plans. LPL Financial offers proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 13,500 financial advisors and approximately 700 financial institutions. In addition, LPL Financial supports more than 4,500 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have approximately 3,000 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit

Securities and Advisory Services offered through LPL Financial. A Registered Investment
Advisor, Member FINRA/SIPC

LPL Financial and Pakola, Steichen & Company are not affiliated entities.

The views and opinions expressed by the LPL Financial Advisor may not be representative of the views of other Financial Advisors and are not indicative of future performance or success.

LPL Financial does not offer legal or accounting services, nor does it provide substitute services for those provided by legal counsel or certified public accountants. If LPL Financial provides forms or other documents, the provision of such documents should not be deemed to constitute any form of legal advice.

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LPL Financial Media Contact
Tony Vignieri
(858) 909-6698

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