LPL Financial has become one of the largest organizations of independent, commission-earning financial advisors. Formed in 1989 through the merger of two successful brokerage firms, Linsco (established in 1968) and Private Ledger (established in 1973), LPL Financial has expanded its number of independent financial advisors from a few hundred to over 10,000 in 2007. With headquarters in Boston, Charlotte, San Diego, LPL Financial has over 2,600 staff assisting financial advisors with back-office support.

LPL Financial has been the largest independent financial services firm in the U.S. for 12 consecutive years 1 . LPL Financial's independent advisors help their clients meet their investment goals through a complete array of financial services including equities, bonds, mutual funds, annuities, insurance and fee-based programs. Unlike many other brokerage firms, LPL Financial does not develop its own investment products, enabling the firm’s investment professionals to offer financial advice free from broker/dealer inspired conflicts of interest.

In 2004, LPL Financial acquired the Phoenix Companies' broker/dealer operations (WS Griffith Securities and Main Street Management), boosting its broker ranks and offering Phoenix the chance to sell its products through LPL Financial's network.

LPL Financial expanded its client base following its August 2006 purchase of UVEST Financial Services, which provides independent brokerage services to more than 300 regional and community banks and credit unions throughout the US.

In June 2007, LPL Financial finalized its acquisition of several broker-dealers under the Pacific Select Group (aka Pacific Life) umbrella, adding 2,000 reps to its books.

On August 6, 2007, LPL Financial experienced technological issues that impacted some of its financial advisors. The issues were finally resolved on August 9. Public representatives from LPL Financial have stated that the issues were caused by a technical malfunction.

In September 2007, LPL Financial and Sun Life Financial announced a definitive agreement under which an affiliate of LPL Financial will acquire Independent Financial Marketing Group, Inc., from Sun Life Financial. Sun Life Financial is a leading international financial services organization. The LPL Financial Institution Services channel, which will manage the Independent Financial business, is the nation’s top provider of investment and insurance services to banks and credit unions. The deal is expected to close in the fourth quarter, subject to customary closing conditions including Financial Industry Regulatory Authority (FINRA) approval.

On January 1, 2008, Linsco/Private Ledger changed its brand name to LPL Financial.

LPL Financial key facts: $1.7 billion in revenue 11,000 affiliated financial advisors 6,100 branch offices Service to over 725 financial institutions 2,600 employees with headquarters in Boston, Charlotte, and San Diego $222 billion in assets under management $68 billion in assets under management in LPL Financial's fee-based platform assets