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LPL Financial Welcomes Puplava Financial Services to Its Broker-Dealer and RIA Platforms

November 07, 2016

LPL Financial

Leading retail investment advisory firm and independent broker/dealer LPL Financial LLC today announced that Puplava Financial Services, Inc. has joined LPL’s broker/dealer and registered investment advisory (RIA) platforms.

Industry Veteran Jim Puplava Returns to LPL Financial to Continue Growth of RIA Business

 

SAN DIEGO – Nov. 7, 2016 – Leading retail investment advisory firm and independent broker/dealer LPL Financial LLC a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), today announced that Puplava Financial Services, Inc. has joined LPL’s broker/dealer and registered investment advisory (RIA) platforms. Puplava Financial Services reported that, based on prior business, its advisors served approximately $395 million of brokerage and advisory assets, as of July 31, 2016*.

Based in San Diego, Puplava Financial Services was founded by Jim Puplava. He originally launched his independent financial services firm in 1985 on LPL’s broker/dealer platform. In 1996, he formed his own broker/dealer and RIA, and for 20 years, his firm took a relationship-driven approach to financial planning and created a formidable industry reputation for his firm’s investment strategies.

With recent regulatory changes, Puplava said that operating as an independent broker/dealer had become more challenging than ever. “The profit margins aren’t what they used to be. At the end of the day, I want to be taking care of clients and not focused on the regulatory functions,” he said. “I believe LPL has the scale to support our business for continued growth.”

He also said he recognized the deepened experience at LPL, the personal service that was retained despite the firm’s tremendous growth and how competitive the firm was positioned in the industry, pointing out specifically its high net worth offering, Private Client. “I feel comfortable bringing a high-net-worth-client to an LPL board room and am confident they will be impressed. LPL’s recruiting support was a key factor, too, which will be important as we continue to grow the business.”

Craig Kamis, LPL senior vice president of large enterprise and institutional recruiting, said, “With the changing regulatory landscape, the industry is seeing more broker/dealer consolidation. We are proud that Jim recognized that LPL’s continuous improvements in technology, platforms and service as well as our support to deal with the changing regulatory and legislative environment positions us to be the preferred firm to support his business.”

Puplava Financial Services has six financial advisors, and seven professional staff members. In addition to founding PFS, Puplava founded Financial Sense, which began as a local talk radio show and now includes a podcast, website and other educational resources on the financial market.

*Asset numbers were reported by Puplava Financial Services based on prior business and have not been independently and fully verified by LPL Financial.

About LPL Financial

LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the retail financial advice market and served $502 billion in advisory and brokerage assets as of September 30, 2016. 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 1996-2016). 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 financial institutions, enabling them to help their clients turn life's aspirations into financial realities. Advisors associated with LPL also serviced an estimated 45,000 retirement plans with an estimated $129 billion in retirement plan assets, as of September 30, 2016. LPL also supports approximately 4,200 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have more than 3,200 employees with primary offices in Boston, Charlotte, and San Diego.

Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC.

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Media Contact:

Lauren Hoyt-Williams

980-321-1232

Lauren.Hoyt-Williams@lpl.com