LPL Financial Marks Growth in Independent RIA Business with Second Annual ADVocate RIA Symposium

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Top-tier advisors gather to learn about best practices and industry trends with leaders of LPL’s independent RIA platform

LPL Financial LLC, the nation's largest independent broker/dealer, a custodian for registered investment advisors (RIAs), and a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today is holding its 2014 ADVocate RIA Symposium in Austin, TX, bringing together 100 of LPL’s top RIA firms, top sponsors and third-party technology vendors to discuss best practices for the RIA community and trends impacting the RIA market more broadly. With more than $43B in assets under custody, the attendees at the conference represent some of the most elite advisors in the firm.

This year’s conference comes on the heels of a period of significant growth for LPL’s independent RIA business, which supports advisors who conduct their advisory business through separate entities by establishing their own RIA. As of June 2014, LPL had grown its independent RIA business to 282 firms with $78 billion in assets under custody, up from $49.8 billion in June 2013. This growth has been supported by LPL’s investment in advisor development and commitment to providing fully integrated tools and solutions.

“We are excited to gather our leading RIA firms to discuss their businesses and share insights into the best practices that are helping them succeed,” said Matt Enyedi, executive vice president of RIA and High Net Worth Advisor Solutions at LPL Financial. “Over the past six years, LPL has established itself as one of the fastest-growing RIA custodians1 by delivering a platform that is designed to preserve advisors’ objectivity and flexibility. We know this event will serve to strengthen our RIA community, building on and continuing our track record of service excellence and growth.”

Symposium Highlights

This year’s symposium explores a range of emerging industry trends, challenges and opportunities.

  •     Open Architecture Technology Platform. LPL has invited third-party portfolio management and performance-reporting providers to participate in this LPL advisor-only event. LPL is excited to expand the capabilities of its current open-architecture platform and help improve the advisors’ experience when leveraging these tools.
  •     Business Growth & Development. Consistent with last year’s symposium, the general sessions will feature "PEG Talks," inspired by the successful TED Talks series, focusing on the themes of Profitability, Efficiency and Growth. Notable sessions include a keynote presentation by renowned author, athlete, philanthropist and fire fighter Robyn Benincasa; Ron Carson of Carson Wealth Management, a top RIA; RIA technology expert and blogger Bill Winterberg; as well as multiple sessions led by Michael Kitces, partner, director of research, Pinnacle Advisory Group, and publisher of Nerd’s Eye View at Kitces.com.
  •     Advisor Advocacy. Attendees will hear from LPL notables Robert Moore, president; Victor Fetter, chief information officer; and Mr. Enyedi about where LPL stands in the RIA marketplace today and what its advisors can expect from LPL as a partner over the next year.

“Today, our independent RIA business accounts for approximately 65% of our new business development,” said Mr. Moore. “That success is due to the fact that LPL Financial offers an innovative platform, allowing advisors the flexibility to structure their practices in the manner that works best for them and their clients. No matter where our advisors want to go, we can help them get there.”

About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc., is a leader in the financial advice market and serves $465 billion in retail assets. The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 13,800 independent financial advisors and more than 700 banks and credit unions. LPL Financial is the nation's largest independent broker-dealer since 1996 (based on total revenues, Financial Planning magazine, June 1996-2014), is one of the fastest-growing RIA custodians with $78 billion in retail assets served, and acts as an independent consultant to more than 40,000 retirement plans with approximately $110 billion in retirement plan assets served. In addition, LPL Financial supports approximately 4,400 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have 3,374 employees with primary offices in Boston, Charlotte and San Diego. For more information, please visit http://www.lpl.com.

1Cerulli: The most rapid growth among RIA custodians between year-end 2011 and 2Q 2013.

Securities and advisory services offered through LPL Financial. A registered investment advisor, member FINRA/SIPC.

Robyn Benincasa, Carson Wealth Management, Bill Winterberg, Michael Kitces and Pinnacle Advisory Group are not affiliates of LPL Financial.

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Amanda Keating
LPL Financial
+1 (202) 441-5332
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