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LPL Financial RIA Platform Continues Accelerated Growth, Surpassing $25 Billion in Assets Under Custody

BOSTON, April 16, 2012 /PRNewswire/ -- LPL Financial LLC, the nation's largest independent broker-dealer* and a wholly-owned subsidiary of LPL Investment Holdings Inc. (NASDAQ: LPLA), today announced that its RIA Platform - the company's custody unit - has surpassed $25 billion in total assets under custody.

Launched just over three years ago in late 2008, the LPL Financial RIA Platform is unique within the industry in providing the only truly integrated offering of fee and commission-based capabilities for independent advisors with their own RIA in a truly conflict-free environment. Through its broker-dealer structure, corporate RIA and RIA Platform, advisors with LPL Financial can decide among all available business structures that exist today, including whether they wish to have their own RIA, and whether they want to offer commission-based business in tandem with fee-based activities on one consolidated platform.

The strong growth in the LPL Financial RIA Platform over the last several years makes the company one of the largest RIA custodians in the industry. The fee and commission-based integration and business model flexibility provided by the RIA Platform offering have fuelled the rapid expansion of the platform's assets under custody, which have surged from $7.3 billion at the end of 2009, the first full year of the RIA Platform's operation, to over $25 billion currently. Between the end of 2009 and December 31, 2011, the number of RIA firms on the platform expanded by 59%, from 92 to 146, while average assets under management per firm grew 94%, from $80 million to $155.5 million. Equally important, according to major third-party industry analysts, the LPL Financial RIA Platform now has the largest total assets per RIA firm in the custodian industry today.

Derek Bruton, Managing Director and National Sales Manager for LPL Financial, said, "Crossing the $25 billion threshold in assets under custody in such a short amount of time is a significant achievement for our RIA Platform. The numbers clearly demonstrate that we are very effectively competing and winning against all players in the custody space for the most successful RIA firms in the industry today. The continued growth of the custody marketplace and our unique ability to serve the full spectrum of RIA business models on a single, integrated platform has made LPL ideally positioned in the RIA custody space. We are very proud of our rapid progress, and even more excited about the multiple growth opportunities in front of us."

About LPL Financial

LPL Financial, a wholly-owned subsidiary of LPL Investment Holdings Inc. (NASDAQ: LPLA), is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine, June 1996-2011), a top RIA custodian, and a leading 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 12,800 financial advisors and approximately 670 financial institutions. In addition, LPL Financial supports over 4,000 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have more than 2,700 employees with headquarters in Boston, Charlotte, and San Diego. For more information, please visit

Securities offered through LPL Financial. Member FINRA/SIPC

*Based on total revenues, Financial Planning magazine, June 1996-2011


LPL Financial Media Contacts
Joseph Kuo / Chris Clemens
Haven Tower Group LLC
(206) 420-3851 or


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