November 2020 marks the 10-year anniversary of LPL’s initial public offering (IPO) on the Nasdaq Composite stock market index. Traded as LPLA, with the “A” representing advisors, the firm marked the occasion with LPL advisors, employees and leaders taking part in NASDAQ’s Nov. 9th Opening Bell ceremony, which was streamed on NASDAQ’s seven-story tower in Times Square and shown on CNBC, Bloomberg, BNN Bloomberg and FOX Business.
The independent model is the fastest growing segment of the advisor marketplace*, and LPL is the leading partner to independent financial advisors**. The firm supports 17,000 financial advisors with more than $800 billion in client assets, and has grown to more than 4,500 employees.
“LPL Financial has always been about spearheading the future of financial advice by supporting the people who know investors best—financial advisors,” said Dan Arnold, LPL Financial president and CEO. “As we look ahead to the next ten years, our employees are ready to take on new challenges in order to continue delivering on our mission for our advisors and the clients they serve.”
LPL puts its size and scale to work for its advisors by delivering cost efficiencies and investing in their business. Arnold told advisors at LPL’s annual conference that the firm is investing more than $1 billion in the capabilities, service and technology provided to advisors.
“We congratulate LPL on its 10-year anniversary as a publicly traded company. We admire the firm’s commitment to its 17,000 advisors and the millions of Americans they serve,” said Dylan James, Nasdaq vice president. “It is an honor to share an opening bell as they embark on the next 10 years of innovation and industry leadership.”
*Based on 2019 Cerulli channel size
**As reported by Financial Planning magazine, June 1996-2020, based on total revenue