San Diego, CA (PRWEB) December 03, 2013
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.
Today’s agenda included general sessions, led by dynamic industry keynote speakers and breakout sessions geared for smaller group exploration and discussion.
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 http://www.lpl.com.
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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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