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Linsco/Private Ledger (LPL Financial Services) 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 has expanded its number of financial advisors from a few hundred to over 10,000 in 2007. With headquarters in San Diego, Boston and Charlotte, LPL has over 2,200 staff assisting financial advisors with back-office support.

LPL has been the largest independent financial services firm in the U.S. for 12 consecutive years¹. LPL's financial 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 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.

LPL will expand its client base following its pending 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 2004, LPL 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's network.

In mid-June of 2007, LPL will have finalized its acquisition of several broker-dealers under the Pacific Select Group (aka Pacific Life) umbrella, adding at least 2000 reps to its books.

On August 6th, 2007, LPL experienced technological issues that impacted the majority of their financial advisers. The issues were finally resolved on August 9th. This not only affected some of LPL's financial advisors but also LPL's three main office locations (San Diego, Charlotte and Boston), leaving home office employees, financial advisors, and clients with significant periods of connectivity loss. The system failure affected financial advisor's ability to conduct certain daily operations. Public representatives from LPL have stated that the issues were caused by a technical malfunction. ^[1]

In September 2007, Linsco/Private Ledger Corp. (LPL Financial Services) and Sun Life Financial announced a definitive agreement under which an affiliate of LPL will acquire Independent Financial Marketing Group, Inc. from Sun Life Financial. Sun Life Financial is a leading international financial services organization. LPL’s 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.

LPL Key Facts:
$1.7 billion in revenue
Over 10,000 affiliated financial advisors
Over 6,100 branch offices
Service to over 725 financial institutions
Over 2,200 employees with headquarters in Boston, San Diego and Charlotte
Over $165 billion in assets under management
Over $62 billion in assets under management in LPL's fee-based platform assets

• ¹As reported by Financial Planning magazine, June 1996-2007, based on total revenue.

• LPL Website