LPL Financial Introduces LPL Private Wealth Management

Rhea-AI Summary

LPL Financial LLC (Nasdaq: LPLA) introduces LPL Private Wealth Management, a new advisor affiliation model tailored for high-net-worth-focused advisors. This model offers industry-leading payouts, client ownership, and business autonomy, along with access to enhanced service and an exclusive high-net-worth advisor community. Private Wealth aims to provide specialized resources to meet the sophisticated needs of high-net-worth clients, offering higher payouts, cutting-edge technology, and a personalized experience.

A new affiliation model for high-net-worth-focused advisors

SAN DIEGO, Nov. 15, 2023 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq: LPLA) today announced the launch of LPL Private Wealth Management (“Private Wealth”), a new advisor affiliation model for advisors focused on serving high-net-worth clients. At LPL, Private Wealth advisors enjoy the benefits of industry-leading payouts, client ownership and business autonomy while gaining access to enhanced service, expanded capabilities and an exclusive high-net-worth advisor community.

“Private Wealth represents the best of both worlds — exclusive access to specialized teams and resources vital to supporting the needs of high-net-worth investors while enjoying all the benefits of independence, all while earning up to 50% higher payouts than the average wire,” said Gary Carrai, executive vice president, Advisor Business Lines. “Private Wealth allows advisors the same full support of working in a wirehouse, without the common downsides of grid changes, growth targets, household minimums and proprietary products.”

“The Private Wealth offering was designed for high-net-worth-focused advisors to easily access resources and serve their clients’ sophisticated and complex needs,” said Anna Howard, senior vice president, Private Wealth. “Private Wealth provides advisors with a tremendous opportunity to own their business and effectively serve their clients’ needs at a large organization that provides safety and stability while also creating a boutique and personalized experience. With higher payouts, cutting-edge technology and specialized resources, Private Wealth represents a unique and attractive offering in the industry.”

LPL currently serves approximately $130 billion in high-net-worth AUM and has developed focused resources such as advanced estate and philanthropy planning, income tax strategy, trustee services, robust alternative investment platform, banking and lending solutions and complex life insurance planning.

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About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that LPL should work for advisors and enterprises, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 22,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 560 registered investment advisor (“RIA”) firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and enterprise leaders have the freedom they deserve to choose the business model, services, and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships because they know their clients best. Simply put, we take care of our advisors and enterprises so they can take care of their clients.

Securities and Advisory services are offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States. LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

We routinely disclose information that may be important to shareholders in the Investor Relations or Press Releases section of our website.

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FAQ

What is LPL Private Wealth Management?

LPL Private Wealth Management is a new advisor affiliation model designed for advisors serving high-net-worth clients, offering industry-leading payouts, client ownership, business autonomy, and access to enhanced services and an exclusive high-net-worth advisor community.

What benefits do Private Wealth advisors enjoy?

Private Wealth advisors enjoy higher payouts, access to specialized teams and resources, cutting-edge technology, and a personalized experience while maintaining business autonomy and client ownership.

What resources does Private Wealth provide for high-net-worth clients?

Private Wealth offers advanced estate and philanthropy planning, income tax strategy, trustee services, robust alternative investment platform, banking and lending solutions, and complex life insurance planning to meet the sophisticated needs of high-net-worth clients.