SAN DIEGO, Nov. 04, 2015 (GLOBE NEWSWIRE) -- Leading retail investment advisory firm and independent broker/dealer LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), today provided an update on financial advisors who chose to affiliate with the firm in the third quarter of 2015.
Select new advisors, their approximate respective assets served** as of a recent date prior to joining LPL and their (former firm) include:
"LPL continues to be a destination of choice for independent advisors," said Steve Pirigyi, executive vice president of business development, LPL Financial. "Just as we have seen throughout 2015, this quarter we continued to attract high-producing advisors who manage sizable books of business. And while we have welcomed advisors from all channels, we see our success in recruiting out of the independent channel as further affirmation of our leadership position in the market place. Advisors recognize the value of affiliation with LPL to be able to provide objective advice to their clients and have the support of our innovative tools and resources."
**Each individual advisor asset number was reported by the advisor based on prior business and has 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.
Statements in this press release regarding LPL Financial Holdings Inc.'s (together with its subsidiaries, including LPL Financial LLC, the "Company") potential 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 Nov. 4, 2015. The words "potential," "anticipates," "intends," "believes," "expects," "may," "plans," "predicts," "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 levels of assets serviced, 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 its newly recruited financial advisors at their prior firms will translate into assets serviced at LPL. 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 mentioned in this press release not to open brokerage and/or advisory accounts at LPL Financial and/or move their respective assets from advisor's prior firm to a new account at LPL Financial; discovery of errors made in the calculation of assets serviced reported by the newly recruited advisor; 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 2014 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 the date of Nov. 4, 2015.
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the retail financial advice market and currently serves $462 billion in advisory and brokerage assets. LPL is one of the fastest growing RIA custodians and is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine June 1996-2015). The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 independent financial advisors and over 700 banks and credit unions, enabling them to help their clients turn life's aspirations into financial realities. Advisors associated with LPL also service an estimated 40,000 retirement plans with an estimated $115 billion in retirement plan assets, as of September 30, 2015. LPL also supports approximately 4,300 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,413 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.
Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC
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Source: LPL Financial
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