LPL Financial celebrates 30 years of innovation in consulting
CHARLOTTE, NC, December 01, 2021 (GLOBE NEWSWIRE) – LPL Financial LLC (Nasdaq: LPLA) announced today the 30e anniversary of its Strategic Asset Management (SAM) advisory platform, one of the very first fully paid platforms in the financial services industry. The platform paved the way for continuous innovation in business consulting. Today, LPL manages nearly $ 600 billion in advisory assets, including nearly $ 300 billion in assets in SAM, and the company is a leading custodian of AIR, institutional programs and independent advisors, supporting the provision of personalized financial advice **.
The concept of SAM grew out of ideas and feedback from LPL advisors who expressed their desire for a platform that could host multiple mutual funds under one account and allow them to charge clients an annual fee rather than commissions. . The platform was launched in 1991 and has been widely adopted by LPL advisers. She amassed $ 5 billion in assets in just a few short years, driving growing differentiation for LPL and the company’s ability to shape the future of consulting.
“With the introduction of the SAM platform 30 years ago, LPL and our advisors were at the forefront of revolutionary change, leading the industry to a more personalized way of offering financial advice,” said Rob Pettman, executive vice president of LPL, Wealth Management. . “Today, we maintain our commitment to consulting partnership, consulting innovation and the future of consulting. Our goal is to equip our RIAs, institutional programs and independent advisors with the most diverse and compelling suite of wealth management solutions in the industry, empowering them to differentiate their practices and deliver exceptional service to their clients. . As we look to 2022, we’ll showcase other innovations that give our advisors more choice, convenience and control. “
About LPL Financière
LPL Financial (Nasdaq: LPLA) was founded on the premise that the business should work for the adviser, not the other way around. Today, LPL is a leader * in the markets we serve, supporting more than 19,000 financial advisors, 800 institutional investment programs and 450 independent RIA companies across the country. We are unwavering in our commitment to the advisor-centric model and the belief that Americans deserve access to the personalized advice of a financial advisor. At LPL, independence means advisors have the freedom they deserve to choose the business model, services and technology resources that allow them to run their practice flawlessly. And they have the freedom to manage their customer relationships because they know their customers better. Simply put, we take care of our advisors, so they can take care of their clients.
* Best RIA Custodian (Cerulli Associates, 2019 US RIA Marketplace Report); No. 1 among independent brokers in the United States (based on total revenues, Financial Planning magazine 1996-2021); 1st provider of brokerage services on behalf of third parties to banks and credit unions (TPM Annual Report 2020-2021 Kehrer Bielan Research & Consulting); Fortune 500 in June 2021
** Data as of 10/31/21.
There can be no assurance that Strategic Asset Management accounts are suitable for all investors or will produce positive results. The purchase of certain securities will be necessary to affect certain strategies. Investing involves risks, including possible loss of capital.
Securities and advisory services offered by LPL Financial LLC, an SEC registered brokerage and investment advisor. FINRA / SIPC member.
Throughout this communication, the terms “financial advisers” and “advisers” are used to refer to the registered representatives and / or representatives of the investment advisers affiliated with LPL Financial LLC. We regularly disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.
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