LPl Financial LLC (Boston)

Name: LPl Financial LLC
Address: 75 State Street, 22 Nd Floor, Boston, MA, 02109
Telephone: 617-423-3644

LPl Financial LLC is a large advisory firm based in Boston. It manages $159.1 billion of regulatory assets for 786,525 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

LPl Financial provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, educational seminars and workshops, and consulting and other non-discretionary advisory services. It prepares financial plans for approximately 6,500 clients. On top of advisory services, the firm doesn't engage in other business activities.

LPl Financial: assets under management

The assets under management (AUM) of LPl Financial LLC is $159.1 billion. The firm's AUM has grown by 101% since the beginning of its operation, and $54.4 million of the total AUM is attributable to clients outside of the United States.

The firm manages $158.51 billion in discretionary accounts and $594.31 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $204.66 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $49.41 thousand.

LPl Financial has custody of $154.96 billion in cash and securities for 600,765 clients in total and acts as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 77% of the total AUM. The second-largest asset type is exchange traded securities, which make up 11% of the firm’s portfolio. Investments in cash and cash equivalents form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay LPl Financial LLC for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and commissions. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Dan Hogan Jr Arnold serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Dan Hogan Jr Arnold is high net worth individuals with 166,895 clients and $88.51 billion of assets under management. Among the 10 most similar advisory firms, LPl Financial has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $159.1 billion for 607,094 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

LPl Financial doesn't advise any private funds.

Careers at LPl Financial LLC

The company employs 22,790 people that are either part- or full-time employees. 69 percent of the employees work as investment advisers or researchers. 11,548 employees are registered as investment adviser representatives with the state securities authorities.

There are 39 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Dan Hogan Jr Arnold has been acting as President since 1 Mar 2015. Matthew J Pechulis joined the executive team most recently as the Senior Vice President, Accounting And Principal Financial Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Lpl Holdings	Managing member	1 Apr 1989	75% - 100%	04-3046611
Stephanie Leigh Brown	General counsel, managing director	1 Dec 1989	Other	1973369
William Edward Iii Dwyer	Managing director	1 Jan 2004	Other	1274680
Mark Stephen Casady	Chairman of the board and chief executive officer	1 Dec 2005	Other	2313239
Dan Hogan Jr Arnold	Managing director	1 Aug 2007	Other	2557410
George Burton White	Managing director, chief investment officer, research	1 Nov 2007	Other	3057759
Denise Maroon Abood	Managing director	1 Jan 2008	Other	4763124
Jonathan Galen Eaton	Managing director	1 Jan 2008	Other	1433091
Christopher Feeney	Managing director, chief information officer	1 Jan 2008	Other	3256593
Mark Robert Helliker	Managing director, client support services	1 Aug 2008	Other	3149815
Esther Marion Stearns	Chief operating officer, president	1 Mar 2009	Other	1088948
Robert Moore	Managing director, finance, chief financial officer	1 Mar 2009	Other	2445455
Kathleen Denise Vannoy Pineda	Chief compliance officer-brokerage	1 May 2009	Other	1347526
Abdiel A Valenzuela	Chief compliance officer - advisory	1 May 2009	Other	1986132
John Jerome Jr. Mcdermott	Managing director, chief enterprise risk officer	1 Jul 2009	Other	4025460
Derek Jerold Bruton	Managing director	1 Mar 2010	Other	2287900
John Andrew Kalbaugh	Managing director, institution services	1 Mar 2010	Other	1821773
Paul Middlemiss	Executive vice president, chief compliance officer, advisory	1 May 2011	Other	2069562
Sallie Rebecca Larsen	Managing director, chief human capital officer	1 May 2012	Other	6061146
Joan Dominy Khoury	Managing director, chief marketing officer	1 May 2012	Other	4177581
Dan Hogan Jr Arnold	Chief financial officer	1 May 2012	Other	2557410
Robert Moore	President, chief operating officer	1 May 2012	Other	2445455
Victor Peter Iii Fetter	Managing director, chief information officer	1 Dec 2012	Other	6147410
David Paul Bergers	Managing director, legal and government relations; director	1 Aug 2013	Other	6238852
Michelle Oroschakoff	Managing director, chief risk officer	1 Sep 2013	Other	2403199
Sharyn J Handelsman	Managing director, chief compliance officer, brokerage	1 Jan 2014	Other	4272996
William Paul Jr Morrissey	Managing director, independent advisor services	1 Apr 2014	Other	1575389
Mary Frances Schott	Managing director, client experience and training	1 Jun 2014	Other	1453429
Ryan Christopher Parker	Managing director, investment and planning solutions	1 Jun 2014	Other	2921779
Dan Hogan Jr Arnold	President	1 Mar 2015	Other	2557410
John Andrew Kalbaugh	Managing director and president, institution services	1 Mar 2015	Other	1821773
William Paul Jr Morrissey	Managing director and president, independent advisor services	1 Mar 2015	Other	1575389
Thomas Dominic Lux	Executive vice president, chief financial officer	1 Mar 2015	Other	2778800
Michelle Oroschakoff	Managing director, chief risk officer; chief compliance officer, brokerage	1 Jun 2015	Other	2403199
Thomas Andrew Gooley	Managing director, service, trading & operations	1 Jul 2015	Other	4526760
Suzanne Elizabeth Auletta	Executive vice president, chief compliance officer, brokerage	1 Sep 2015	Other	1418817
Matthew Jon Audette	Chief financial officer	1 Sep 2015	Other	4003349
Tracy Ellen Calder	Managing director, deputy chief risk officer	1 Jan 2016	Other	2611255
Dan Hogan Jr Arnold	President & chief executive officer	1 Jan 2017	Other	2557410
Kurt Walker Lofgren	Senior vice president, chief compliance officer, advisory	1 Mar 2017	Other	3048472
Michelle Oroschakoff	Managing director, chief legal & risk officer	1 Jun 2017	Other	2403199
Scott Alan Seese	Managing director, chief information officer	1 Jul 2017	Other	6831603
Tracy Ellen Calder	Managing director, chief risk officer & chief compliance officer, brokerage	1 Apr 2018	Other	2611255
Michelle Oroschakoff	Managing director, chief legal officer and director	1 Apr 2018	Other	2403199
Tracy Ellen Calder	Managing director, chief risk officer	1 Aug 2018	Other	2611255
Richard C Steinmeier	Managing director and divisional president, business development	1 Aug 2018	Other	5109512
John Hugh O'neill	Senior vice president, chief compliance officer, brokerage	1 Aug 2018	Other	4970379
Katherine Dailey Ring	Senior vice president, chief compliance officer, advisory	1 Oct 2018	Other	4934458
Dayton John Semerjian	Managing director, chief customer care officer	1 Feb 2019	Other	7079660
William E Walcher	Senior vice president, trading and principal operations officer	1 Mar 2019	Other	2224860
Matthew J Pechulis	Senior vice president, accounting and principal financial officer	1 May 2019	Other	6580835

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Lpl Financial Holdings Inc.	Parent company	1 Dec 2005	75% - 100%	20-3717839
Lpl Investment Holdings Inc.	Principal stockholder	1 Dec 2005	75% - 100%	20-3717839

Based in Boston

The principal office where LPl Financial LLC performs its advisory services is located at 75 State Street, 22 Nd Floor, Boston, MA 02109, which is also the mailing address of the firm. An additional office of the firm is in Troy, MI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 617-423-3644 or by fax 617-526-8589. The normal business hours are 8:30am - 6:00pm on Monday - Friday. You can find more information about the New York firm at lpl.com.