NPH SII INVEST

LPL Financial Completes NPH Acquisition and Welcomes Top Firms from INVEST and SII

February 26, 2018

LPL Financial

LPL Financial today announced the names of select top National Planning Holdings, Inc. (NPH) firms—those from INVEST Financial Corporation and SII Investments, Inc. —that chose to join LPL. Each firm reported that, based on prior business*, it served more than $500 million of client brokerage and advisory assets.

Firms and their approximate respective assets served*, as of a recent date prior to joining LPL, include:

$1B+

  • Advisors Southeastern Alliance, Atlanta
  • Central Trust Bank, Jefferson City, Mo.
  • Community Investment Services Inc., Canton, N.Y.
  • Johnson Bank, Racine, Wis.
  • Life Brokerage Financial Group, Clearwater, Fla.

$500M-$999M

  • Bethpage Federal Credit Union, Bethpage, N.Y.
  • Christopher Edwards Financial Associates, Chester, N.J.  
  • Fross & Fross Wealth Management, The Villages, Fla.
  • Logix Federal Credit Union, Burbank, Calif.
  • Members 1st Federal Credit Union, Mechanicsburg, Pa.
  • Oak Partners, Crown Point, Ind.
  • Parsons Financial Associates, Concord, N.H.
  • R Group Financial Marketing Inc., Eagan, Minn.
  • United Community Banks Inc., Blairsville, Ga.  

“On behalf of all of us at LPL, we warmly welcome these firms to the LPL family,” said Bill Morrissey, LPL managing director and divisional president, Business Development. “It has been exciting to get to know these teams and their businesses. We are invested in their success and look forward to connecting them with our advisory tools, technology tools and other capabilities so they can further differentiate their practices and deliver enhanced value to clients. We extend our thanks to each new advisor for giving us the opportunity to serve their business.”

NPH assets were purchased by LPL as part of a previously announced transaction in August 2017.

NPH firms with over $500 million in assets —those from Investment Centers of America, Inc. and National Planning Corporation — were announced previously.

*Each firm’s asset number represents the aggregate asset numbers reported by the advisors to their respective firms, are based on prior business, include both brokerage and advisory assets, and have not been independently and fully verified by LPL Financial.

The information in this press release is not intended to update or change any of the information, including information about recruiting results, previously publicly disclosed by LPL Financial.

LPL Financial and the Advisor Firms listed are separate entities. 

Forward-Looking Statements

Statements in this press release regarding the Company’s future levels of assets serviced, growth, business strategy, and plans, as well as any other statements that are not related to present facts or current conditions or that are not purely historical, constitute forward-looking statements. These forward-looking statements are based on the Company’s historical performance and its plans, estimates and expectations as of Feb. 26, 2018. The words “believes,” “expects,” “may,” “plans,” “will” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are not guarantees that the future results, plans, intentions or expectations expressed or implied by the Company will be achieved. Matters subject to forward-looking statements involve known and unknown risks and uncertainties, including economic, legislative, regulatory, competitive and other factors, which may cause levels of assets serviced, actual financial or operating results, levels of activity, or the timing of events, to be materially different than those expressed or implied by forward-looking statements. In particular, the Company can provide no assurance that the assets reported as serviced by financial advisors and/or firms mentioned in this press release will translate into assets continuously serviced at LPL Financial or that such financial advisors and/or firms will remain at LPL Financial. Important factors that could cause or contribute to such differences include: the choice by one or any of the clients of the Company's newly recruited financial advisors and/or firms mentioned in this press release not to maintain brokerage and/or advisory accounts at LPL Financial; discovery of errors made in the calculation of assets serviced reported by the newly recruited advisors; changes in general economic and financial market conditions, including retail investor sentiment; fluctuations in the value of assets under custody; effects of competition in the financial services industry; and the other factors set forth in Part I, “Item 1A. Risk Factors” in the Company’s 2017 Annual Report on Form 10-K and any subsequent SEC filing. Except as required by law, the Company specifically disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release, even if its estimates change, and you should not rely on those statements as representing the Company’s views as of any date subsequent to Feb. 26, 2018.