Quick Facts
Revenue, growth and (for ranks 1–15) rep and asset figures: Financial Planning IBD Elite 2026, self-reported by firms. Other figures as noted.
About LPL Financial
LPL Financial is the largest independent broker-dealer in the United States and has held the No. 1 spot in Financial Planning's IBD Elite ranking since 1996. Publicly traded on Nasdaq (LPLA), the firm reported 2025 revenue more than double that of its nearest competitor, a gap driven by recruiting and acquisitions including Commonwealth Financial Network.
Services Offered
LPL supports independent advisors through broker-dealer, corporate RIA and hybrid RIA affiliation models, an employee advisor channel (Linsco), and clearing and custody services for registered investment advisers. Its brokerage menu includes variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 plans, and insurance, supported by in-house research, compliance, technology and succession and liquidity programs.
Leadership
Rich Steinmeier, CEO; Matt Audette, President & CFO.
LPL Financial in the News
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July 2026
Second-quarter 2026 results showed total client assets of about $2.6 trillion and 4% annualized organic growth. Management said it was preparing to onboard Commonwealth and had closed its acquisition of Mariner Advisor Network.
Source: StatementDog -
July 23, 2026
LPL's board approved a $2.5 billion increase to the company's share-repurchase authorization.
Source: Eastern Progress -
Sept. 22, 2026
Financial Planning reported on a new development in the long-running recruiting dispute between LPL and Ameriprise.
Source: Financial Planning
Verify LPL Financial on FINRA BrokerCheck
Before working with any advisor affiliated with LPL Financial, review the firm's and the individual advisor's registration history and disclosures on FINRA BrokerCheck.