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LPLA on Nasdaq

LPL Financial

Logo: LPL Financial, Public domain, via Wikimedia Commons6

Independent broker-dealer in the United States

LPL Financial Holdings Inc. (commonly referred to as LPL Financial) was founded in 1989 and has been described as the largest independent broker-dealer in the United States. As of 2026, the company had more than 32,000 financial advisors, approximately US$2.3 trillion in client assets, including US$1.4 trillion in advisory assets. LPL Financial has main offices in Boston, Fort Mill, Austin, and San Diego.3 Its shares trade on Nasdaq under the symbol LPLA.1 Wikipedia text CC BY-SA 4.0

$320.81 down 6.75 (2.06%)Price as of Oct 16, 2026 at 19:58 UTC

Last updated Oct 21, 2026.

Overview

1968Founded1

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  • TickerLPLA on Nasdaq1
  • Industryfinancial services1
  • HeadquartersSan Diego1
  • Websitewww.lpl.com
  • Incorporated inDE7
  • Business address4707 Executive Drive, San Diego, Ca 921217
  • Filer categoryLarge accelerated filer7
  • Legal formLimited Liability Company4
  • LEI5493005NM7F0H1N3EQ394
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O C T Corporation System, 91203 Glendale, United States4
  • Registered withSecretary of State, 2010319100464

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LPL Financial Holdings Inc. (commonly referred to as LPL Financial) was founded in 1989 and has been described as the largest independent broker-dealer in the United States. As of 2026, the company had more than 32,000 financial advisors, approximately US$2.3 trillion in client assets, including US$1.4 trillion in advisory assets. LPL Financial has main offices in Boston, Fort Mill, Austin, and San Diego. The company is a member of FINRA and the SIPC.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

5.1%Net margin10
37.2%Revenue growth, 202510
16.1%Return on equity10
1.36×Debt to equity10
-$981.8MFree cash flow10

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs93¢$15.8B
  • Income tax2¢$286.5M
  • Profit5¢$863.0M

Out of $17.0B in revenue.10

Financial statements

Revenue1112131410$17.0B in 2025+202% since 2019
0$5.0B$10.0B$15.0B$20.0B2019: $5.6B$5.6B20192020: $5.9B$5.9B2020+4%2021: $7.7B$7.7B2021+31%2022: $8.6B$8.6B2022+11%2023: $10.1B$10.1B2023+17%2024: $12.4B$12.4B2024+23%2025: $17.0B$17.0B2025+37%
Net income1112131410$863.0M in 2025+54% since 2019
0$500.0M$1.0B$1.5B2019: $559.9M$559.9M20192020: $472.6M$472.6M2020−16%2021: $459.9M$459.9M2021−3%2022: $845.7M$845.7M2022+84%2023: $1.1B$1.1B2023+26%2024: $1.1B$1.1B2024−1%2025: $863.0M$863.0M2025−18%

Every line of the income statement as filed: the last 3 fiscal years, latest first.10

Period ending2025-12-312024-12-312023-12-31
Advisory$8.2B$5.5B$4.1B
Commission$4.5B$3.3B$2.6B
Asset-based$3.0B$2.5B$2.4B
Service and fee$652.4M$552.0M$508.4M
Transaction and fee$270.8M$236.3M$199.9M
Interest income, net$231.6M$187.6M$159.4M
Other$172.4M$144.2M$119.0M
Total net revenues$17.0B$12.4B$10.1B
Commission and advisory$11.2B$7.8B$5.9B
Compensation and benefits$1.6B$1.1B$979.7M
Promotional$737.2M$589.3M$459.2M
Occupancy and equipment$577.2M$281.2M$248.6M
Depreciation, Depletion and Amortization, Nonproduction$393.4M$308.5M$247.0M
Interest Expense, Debt$403.4M$274.2M$186.8M
Brokerage, clearing, and exchange$178.1M$127.9M$106.0M
Amortization of other intangibles$236.6M$135.2M$107.2M
Professional services$218.7M$93.7M$72.6M
Communications and data processing$85.8M$75.8M$75.7M
Other$219.3M$218.5M$209.4M
Total expense$15.8B$11.0B$8.6B
INCOME BEFORE PROVISION FOR INCOME TAXES$1.1B$1.4B$1.4B
Effective income tax rate$286.5M$334.3M$378.5M
NET INCOME$863.0M$1.1B$1.1B
Earnings Per Share, Basic$10.97$14.17$13.88
Earnings Per Share, Diluted$10.92$14.03$13.69
Weighted-average shares outstanding, basic78.7M shares74.7M shares76.8M shares
Weighted-average shares outstanding, diluted79.1M shares75.4M shares77.9M shares

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Corporate structure

LPL Financial is part of a group headed by LPL FINANCIAL HOLDINGS INC.. 10 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of LPL Financial

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (6 companies); owners and owned firms from Form ADV, the registration investment advisers file with the SEC. Each entity in the chart links to its source.

What it owns

What LPL Financial reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$3.2B10 Dec 31, 2025$2.6B10 Dec 31, 2024+22.4%
Accumulated depreciation$1.8B10 Dec 31, 2025$1.4B10 Dec 31, 2024+27.6%
Property and equipment, net$1.4B10 Dec 31, 2025$1.2B10 Dec 31, 2024+16.5%
Finance-lease assets$84.6M10 Dec 31, 2024$88.5M14 Dec 31, 2023−4.4%
Operating-lease assets (leased space)$173.5M10 Dec 31, 2025$119.1M10 Dec 31, 2024+45.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.0B10 Dec 31, 2025$967.1M10 Dec 31, 2024+7.3%
Marketable securities, current$91.5M10 Dec 31, 2025$57.5M10 Dec 31, 2024+59.2%
Debt securities held to maturity$15.4M10 Dec 31, 2025$15.2M10 Dec 31, 2024+1.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$2.6B10 Dec 31, 2025$2.2B10 Dec 31, 2024+21.7%
Intangible assets, net (excluding goodwill)$3.3B10 Dec 31, 2025$1.5B10 Dec 31, 2024+124.6%
Finite-lived intangibles, gross$4.5B10 Dec 31, 2025$2.5B10 Dec 31, 2024+84.4%
Accumulated amortization$1.3B10 Dec 31, 2025$1.0B10 Dec 31, 2024+22.7%
Finite-lived intangibles, net$3.3B10 Dec 31, 2025$1.4B10 Dec 31, 2024+128.0%

Properties, in its own words

Location · Approximate Square Footage · Lease Expiration

Fort Mill, South Carolina · 567,000 · 2045

The rest of Item 2

San Diego, California · 536,000 · 2029

Waltham, Massachusetts · 151,000 · 2038

Tempe, Arizona · 86,000 · 2031

Hyderabad, India · 60,000 · 2028

Austin, Texas · 57,000 · 2029

New York, New York · 22,000 · 2031

We also lease smaller administrative and operational offices in various locations throughout the United States. We believe that our existing properties are adequate for the current operating requirements of our business and that additional space will be available as needed.

Item 2 of the 10-K filed Feb 23, 2026.18

The story

LPL Financial was formed in 1989 through the merger of two brokerage firms: Linsco (established as Life Insurance Securities Corp in 1968) and Private Ledger (established in 1973).

In November 2010, LPL Financial Holdings completed its initial public offering on the Nasdaq under the ticker symbol LPLA. The company’s shares were initially priced at $30 per share.

On August 15, 2017, LPL Financial Holdings Inc. signed and closed a transaction to purchase the independent broker-dealer network of National Planning Holdings, Inc. (NPH). NPH was the holding company for four independent broker-dealer firms: INVEST Financial Corporation, National Planning Corporation, Investment Centers of America, and SII Investments.

On May 2, 2018, LPL Financial agreed to a $26 million settlement arising from unregistered securities. The same year, it agreed to pay a $2.75 million fine and perform a look-back review of certain complaints primarily related to anti-money laundering (AML) reporting and customer complaint reporting. On December 3, 2018, LPL Financial Holdings Inc. reported its acquisition of AdvisoryWorld, a technology company serving the wealth management industry. Founded in 1987, the company's products include proposal generation, portfolio and investment analytics and portfolio modeling capabilities.

On June 26, 2019, LPL Financial settled with the Commonwealth of Massachusetts for $1.1 million and underwent a review of certain internal controls. The Massachusetts Securities Division (MSD) had investigated and charged LPL over compliance matters related to licensing of advisors/supervisors and late reporting. On December 26, 2019, LPL Financial paid a fine of $300,000 as part of a settlement with FINRA primarily related to its systems and procedures related to Uniform Gifts to Minors Act (UGMA) and Uniform Transfer to Minors Act (UTMA) accounts. The settlement was based on internal controls and was not related to any investor harm.

On August 18, 2020, LPL Financial Holdings Inc. reported its purchase of E.K. Riley Investments, LLC, a broker-dealer and registered investment advisor (RIA) based in Seattle. E.K. Riley served more than $2 billion of client assets and expected approximately 90% of its advisors to join LPL.

On August 20, 2020, LPL Financial Holdings Inc. reported it had completed its purchase of the San Diego–based firm Lucia Securities, a broker-dealer and Lucia Wealth Services, a registered investment advisor (RIA).

On October 27, 2020, LPL Financial Holdings Inc. announced its acquisition of Blaze Portfolio, a Chicago-based fintech firm founded in 2010. LPL stated that it would continue offering Blaze Portfolio as a stand-alone product while integrating its trading capabilities into the firm’s advisor platform. The transaction was signed and closed on October 26, 2020. LPL Financial paid approximately $12 million and agreed to a potential contingent payment of up to $5 million, subject to milestones and customary purchase price adjustments. On December 30, 2020, LPL Financial paid a fine of $6.5 million as part of a settlement with the Financial Industry Regulatory Authority (FINRA). As part of the settlement, LPL Financial consented to the findings that they had failed to supervise and failed to maintain adequate records. FINRA alleged that inadequate record keeping had exposed customers to losses through a Ponzi scheme created by one of its representatives.

Read the full text

In 2021, LPL Financial reported surpassing $1 trillion in brokerage and advisory assets and exceeded 20,000 financial advisors. In a 2022 article, Barron’s described LPL Financial as “the leading independent broker-dealer” in the United States.

In April 2021, LPL acquired Waddell & Reed's wealth management business.

LPL Financial joined the Fortune 500 list at number 466 in 2021 and rose to 392 in 2024. In August 2024, LPL Financial settled with the SEC for a $50 million fine for failure in electronic record keeping.

In 2024, Rich Steinmeier was named chief executive officer of LPL Financial.

In 2025, LPL Financial announced its acquisition of Commonwealth Financial Network, one of the largest independently owned wealth management firms in the United States. LPL stated that the combined organization would support more than 29,000 financial advisors.

From Wikipedia’s article on LPL Financial, shared under CC BY-SA 4.0.8

Leadership

Who has led LPL Financial, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Mark S. Casady2007–2009
  2. Dan H. Arnold2017–2024
  3. Richard Steinmeier2025–now

Chair

  1. Mark S. Casady2009–2016

President

  1. Esther M. Stearns2007–2012
  2. Dan H. Arnold2010–2024
  3. John Andrew Kalbaugh2017
  4. Matthew J. Audette2025–now

Chief financial officer

  1. Bill Maher2007–2008
  2. Becky S. Shulman2011
  3. Dan H. Arnold2013–2015
  4. Lux Thomas2015
  5. Matthew J. Audette2015–now

Chief operating officer

  1. Esther M. Stearns2007–2012
197019801990200020102020
Board members and other officers (59)

Subsidiaries and ownership

Parent company (GLEIF)

Ultimate parent

Subsidiaries (Exhibit 21)

  • 8. Allen & Company of Florida, LLC Delaware Allen & Company of Florida9

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record. The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • LPL Investment Holdings Inc.Apr 30, 2007 to Jun 5, 20127

Timeline

  1. Jul 30, 20268-K Results of operations89
  2. May 15, 20268-K Bylaws or fiscal year changed; Shareholder vote90
  3. Apr 30, 20268-K Results of operations91
  4. Jan 29, 20268-K Results of operations92
  5. Jan 8, 20268-K Executive or director change; Regulation FD disclosure93
  6. Oct 30, 20258-K Results of operations94
  7. Aug 1, 20258-K Regulation FD disclosure; Other events95
  8. Jul 31, 20258-K Results of operations96
  9. Jul 3, 20258-K Executive or director change97
  10. Jun 3, 20258-K Executive or director change98
  11. May 23, 20258-K Shareholder vote99
  12. May 8, 20258-K Results of operations100
  13. Feb 20, 2025New chief executive Richard Steinmeier becomes CEO19
  14. Dec 19, 2017Parent Directly consolidated by LPL HOLDINGS, INC.4
  15. Feb 15, 2017New chief executive Dan H. Arnold becomes CEO20
  16. Jun 29, 2007New chief executive Mark S. Casady becomes CEO21
  17. 1968Founded Founded1

Calendar

Coming up

  1. Oct 27, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $5.20 a share, on Oct 30, 2025.101

When it reported results

  1. Jul 30, 2026Reported quarterly or annual results89
  2. Apr 30, 2026Reported quarterly or annual results91
  3. Jan 29, 2026Reported quarterly or annual results92
  4. Oct 30, 2025Reported quarterly or annual results94
  5. Jul 31, 2025Reported quarterly or annual results96
  6. May 8, 2025Reported quarterly or annual results100
  7. Jan 30, 2025Reported quarterly or annual results102
  8. Oct 30, 2024Reported quarterly or annual results103

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

546 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 52 major events, 338 insider forms, 18 large holders, 118 other. The latest 20:

  1. Sep 14, 20264 EDGAR
  2. Sep 11, 2026144 EDGAR
  3. Sep 8, 20264 EDGAR
  4. Sep 1, 20264 EDGAR
  5. Sep 1, 20264 EDGAR
  6. Sep 1, 20264 EDGAR
  7. Sep 1, 20264 EDGAR
  8. Sep 1, 20264 EDGAR
  9. Sep 1, 20264 EDGAR
  10. Sep 1, 20264 EDGAR
  11. Aug 31, 20264 EDGAR
  12. Aug 27, 2026144 EDGAR
  13. Aug 21, 20264 EDGAR
  14. Aug 20, 2026144 EDGAR
  15. Aug 19, 2026N-PX EDGAR
  16. Aug 13, 2026SCHEDULE 13G EDGAR
  17. Aug 7, 202613F-HR EDGAR
  18. Aug 4, 20264 EDGAR
  19. Aug 4, 20264 EDGAR
  20. Aug 4, 2026SCHEDULE 13G EDGAR

The 546 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

81 open-market trades by officers, directors and large owners since October 2021: 4 buys and 77 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 11, 2026Reeping KatharinePrincipal Accounting OfficerSale440$347.88$153.1KForm 4
Aug 27, 2026Jambusaria AneriGroup Managing DirectorSale308$357.36$110.1KForm 4
Aug 20, 2026Gates GregGroup Managing DirectorSale4,119$355.38$1.5MForm 4
Jul 31, 2026Enyedi MatthewGroup Managing DirectorSale1,000$352.72$352.7KForm 4
Jun 17, 2026Jambusaria AneriGroup Managing DirectorSale308$306.00$94.2KForm 4
Apr 15, 2026Audette Matthew JPresident and CFOSale1,110$330.01$366.3KForm 4
Apr 14, 2026Audette Matthew JPresident and CFOSale469$325.34$152.6KForm 4
Mar 10, 2026Cohen Marc EliotGroup Managing DirectorSale1,088$309.72$337.0KForm 4
Mar 9, 2026Cohen Marc EliotGroup Managing DirectorSale2,212$308.75$683.0KForm 4
Mar 2, 2026Jambusaria AneriGroup Managing DirectorSale308$306.00$94.2KForm 4
Feb 26, 2026Enyedi MatthewGroup Managing DirectorSale2,109$320.15$675.2KForm 4
Feb 26, 2026Audette Matthew JPresident and CFOSale1,581$320.50$506.7KForm 4
Dec 5, 2025Steinmeier RichardChief Executive OfficerSale5,058$370.99$1.9MForm 4
Dec 5, 2025Gates GregGroup Managing DirectorSale750$370.97$278.2KForm 4
Dec 1, 2025Jambusaria AneriGroup Managing DirectorSale80$352.48$28.2KForm 4
Nov 5, 2025Gates GregGroup Managing DirectorSale1,500$376.43$564.6KForm 4
Oct 6, 2025Gates GregGroup Managing DirectorSale750$314.42$235.8KForm 4
Sep 5, 2025Gates GregGroup Managing DirectorSale1,500$338.21$507.3KForm 4
Sep 2, 2025Jambusaria AneriGroup Managing DirectorSale80$361.25$28.9KForm 4
Aug 5, 2025Gates GregGroup Managing DirectorSale1,500$374.05$561.1KForm 4

All 81 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Stakes it holds

LPL Financial has told the SEC it owns more than 5% of 6 companies, latest first (Schedules 13D and 13G).

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Richard SteinmeierChief Executive Officer$900.0K$14.6M117
2025Matthew AudettePresident and Chief Financial Officer$750.0K$10.0M117
2025Greg GatesGroup Managing Director, Chief Technology and Information Officer$592.3K$4.6M117
2025Matthew EnyediGroup Managing Director, Chief Client Officer$588.5K$3.6M117
2025Aneri JambusariaGroup Managing Director, Chief Wealth Officer$488.5K$2.6M117
2024Richard SteinmeierChief Executive Officer$663.5K$4.7M117
2024Matthew AudettePresident and Chief Financial Officer$648.5K$4.4M117
2024Greg GatesGroup Managing Director, Chief Technology and Information Officer$550.0K$3.9M117
2024Matthew EnyediGroup Managing Director, Chief Client Officer$521.2K$2.9M117
2023Richard SteinmeierChief Executive Officer$592.3K$3.7M117
2023Matthew AudettePresident and Chief Financial Officer$625.4K$3.4M117
2023Greg GatesGroup Managing Director, Chief Technology and Information Officer$524.0K$3.4M117
2023Matthew EnyediGroup Managing Director, Chief Client Officer$492.3K$2.5M117

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.4,732,991$1.3B0.0%−241,264
Dodge & Cox4,578,679$1.3B0.7%+432,132
Boston Partners4,250,828$1.2B1.1%+119,330
Jupiter Topco LLC4,198,356$1.2B0.5%New
Vanguard Portfolio Management LLC3,832,005$1.1B0.0%−19,973
Vanguard Capital Management LLC3,613,624$1.0B0.0%+16,656
Principal Financial Group Inc2,684,964$756.3M0.4%+48,420
Samlyn Capital, LLC2,405,639$677.6M11.2%+82,279
Capital World Investors2,343,266$660.1M0.1%+30,820
State Street Corp1,934,239$544.8M0.0%+70,973
Wcm Investment Management, LLC1,810,058$487.3M0.9%+75,663
Goldman Sachs Group Inc1,695,954$477.7M0.1%+1,335,148
Geode Capital Management, LLC1,502,575$422.0M0.0%−92,175
Assenagon Asset Management S.A.1,494,172$420.9M0.3%+1,477,699
Alliancebernstein L.P.1,385,759$416.9M0.1%−186,239
Massachusetts Financial Services Co /ma/1,458,759$413.8M0.1%−2,410,600
Kayne Anderson Rudnick Investment Management LLC1,434,522$404.1M1.3%−245,568
Lone Pine Capital LLC1,219,099$343.4M2.1%−830,868
SurgoCap Partners LP1,063,218$299.5M9.7%+42,379
Norges Bank1,054,523$297.0M0.0%New
Van Eck Associates Corp1,048,344$295.3M0.2%+45,367
Barrow Hanley Mewhinney & Strauss LLC1,031,243$290.5M0.9%−62,163
Darlington Partners Capital Management, LP993,006$279.7M12.3%+100,000
Fmr LLC981,391$276.4M0.0%−316,299
Marshall Wace, Llp975,627$274.8M0.2%New

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

22 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jun 11, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+10.1%Report
Jun 5, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+8.9%Report
May 19, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+8.8%Report
May 14, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+6.7%Report
May 12, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+6.7%Report
May 7, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+0.3%Report
May 1, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−4.3%Report
Apr 6, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−5.9%Report
Mar 27, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−11.4%Report
Dec 10, 2025Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−27.6%Report
May 13, 2025Markwayne Mullin, SenateBuy$15,001 - $50,000−46.0%Report
Apr 2, 2025Val T. HoyleDemocratic, HouseSale$1,001 - $15,000+39.9%Report
Mar 3, 2025Val T. HoyleDemocratic, HouseBuy$1,001 - $15,000−40.9%Report
Feb 13, 2025Markwayne Mullin, SenateBuy$50,001 - $100,000−38.6%Report
Jul 18, 2024John JamesRepublican, HouseSale$1,001 - $15,000−10.0%Report
Nov 10, 2023John JamesRepublican, HouseBuy$1,001 - $15,000−31.9%Report
Apr 20, 2023Susie LeeDemocratic, HouseSale$15,001 - $50,000+27.9%Report
Jun 15, 2021Susie LeeDemocratic, HouseBuy$1,001 - $15,000+55.0%Report
Apr 9, 2021Sara JacobsDemocratic, HouseSale$15,001 - $50,000−36.0%Report
Feb 19, 2021Sara JacobsDemocratic, HouseBuy$15,001 - $50,000+50.4%Report
Oct 19, 2020Susie LeeDemocratic, HouseBuy$1,001 - $15,000+169.5%Report
Sep 28, 2020Susie LeeDemocratic, HouseBuy$1,001 - $15,000+193.6%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How LPL Financial is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLPL Financial Holdings Inc.2
  • CIK0001397911
  • Employer ID (EIN)20-371783918
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company18
  • Incorporated inDelaware18
  • Fiscal year endsDecember 312
  • Industry code (SIC)6200 Security & Commodity Brokers, Dealers, Exchanges & Services2
  • SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance2
  • Business address4707 Executive Drive, San Diego, CA 921212
  • Phone800-877-72102
  • Shares outstanding78,742,290 as of Jul 30, 202616
  • Public float$29.9B as of Jun 30, 202518
  • AuditorDeloitte & Touche LLP, San Diego, California PCAOB ID 34; it also attests to the company’s internal control over financial reporting18
  • On EDGAR sinceApr 30, 20072
  • Filings1,774 in all: 4 (1,132), 8-K (208), 3 (73), 10-Q (58), SC 13G/A (54), 144 (51), 10-K (19), UPLOAD (19)2
    All 50 form types

    CORRESP (18), DEF 14A (17), DEFA14A (16), SC 13G (14), 424B5 (10), 5 (6), 424B7 (5), CT ORDER (5), S-1/A (5), S-8 (5), 8-K/A (4), ARS (4), FWP (4), PRE 14A (4), SCHEDULE 13G (4), EFFECT (3), S-3/A (3), 10-12G/A (2), 10-K/A (2), 4/A (2), DFAN14A (2), S-3 (2), S-3ASR (2), SC 13D/A (2), SCHEDULE 13G/A (2), 10-12G (1), 15-12G (1), 305B2 (1), 424B4 (1), 8-A12B (1), 8-A12G (1), CERTNAS (1), D/A (1), DEF 14C (1), IRANNOTICE (1), PRE 14C (1), REGDEX (1), REGDEX/A (1), S-1 (1), S-1MEF (1), S-8 POS (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Feb 23, 2026
    Quarterly report (10-Q) Aug 3, 2026
    Proxy statement (DEF 14A) Apr 2, 2026
    Latest 8-K (8-K) Jul 30, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock — $0.001 par value per shareLPLAThe Nasdaq Global Select Market

From the cover page of the 10-K filed Feb 23, 2026 (Section 12(b) of the Exchange Act).18

Risk factors and legal proceedings

The risks LPL Financial names in Item 1A of its 10-K filed Feb 23, 2026: 31 risks under these headings, as written.18

  • Risks Related to Our Business and Industry
  • Risks Related to Our Regulatory Environment
  • Risks Related to Our Technology
  • Risks Related to Ownership of Our Common Stock
  • We depend on our ability to attract and retain experienced and productive advisors, and we are subject to competition in all aspects of our business.
  • Our financial condition and results of operations may be adversely affected by market fluctuations and other economic factors.
  • Significant interest rate changes could affect our profitability and financial condition.
  • Any damage to our reputation could harm our business and lead to a loss of revenue and net income.
  • There are risks inherent in the independent broker-dealer business model.
  • We rely on third-party service providers, including off-shore providers, to perform technology, processing and support functions, and our operations are dependent on financial intermediaries that we do not control.
  • Lack of liquidity or access to capital could impair our business and financial condition.
  • Our business could be materially adversely affected as a result of the risks associated with acquisitions, investments and strategic relationships.
The other 23 risks
  • Our risk management policies and procedures may not be effective in fully mitigating our risk exposure in all environments or against all types of risks.
  • We face competition in attracting and retaining key talent.
  • The securities settlement process exposes us to risks related to adverse movements in price.
  • Our indebtedness could adversely affect our financial condition and may limit our ability to use debt to fund future capital needs.
  • Restrictions under our Credit Agreement may prevent us from taking actions that we believe would be in the best interest of our business.
  • Provisions of our Credit Agreement and certain of the Indentures could discourage an acquisition of us by a third-party.
  • Our insurance coverage may be expensive, and losses we incur may exceed the limits of our insurance coverage, or may not be covered at all.
  • Poor service or performance of the financial products that we offer or competitive pressures on pricing of such services or products may cause clients of our advisors to withdraw their assets on short notice.
  • A loss of our marketing relationships with manufacturers of financial products could harm our relationship with our advisors and, in turn, their clients.
  • Changes in U.S. federal income tax law could make some of the products distributed by our advisors less attractive to clients.
  • Any failure to comply with applicable federal or state laws or regulations, or SRO rules, exposes us to litigation and regulatory actions, which could increase our costs or negatively affect our reputation.
  • Regulatory developments could adversely affect our business by increasing our costs or making our business less profitable.
  • We are subject to various regulatory requirements, which, if not complied with, could result in the restriction of the conduct or growth of our business.
  • Failure to comply with ERISA regulations and certain tax-qualified plan laws and regulations could result in penalties against us.
  • We rely on technology in our business, and technology and execution failures could subject us to losses, litigation and regulatory actions.
  • Our information technology systems may be vulnerable to security risks.
  • A cyber-attack or other security breach of our technology systems or those of our advisors or third-party vendors could negatively impact our normal operations, and as a result, subject us to significant liability and harm our reputation.
  • Failure to comply with the complex privacy and data protection laws and regulations to which we are subject could result in adverse action from regulators and adversely affect our business, reputation, results of operations and financial condition.
  • Failure to maintain technological capabilities, flaws in existing technology, difficulties in upgrading our technology platform or the introduction of a competitive platform could have a material adverse effect on our business.
  • Inadequacy or disruption of our business continuity and disaster recovery plans and procedures in the event of a catastrophe could adversely affect our business.
  • The price of our common stock may be volatile and fluctuate substantially, which could result in substantial losses for our investors.
  • We are a holding company and rely on dividends, distributions and other payments, advances and transfers of funds from our subsidiaries to meet our debt service and other obligations.
  • Our future ability to pay regular dividends to holders of our common stock or repurchase shares are subject to the discretion of our Board and will be limited by our ability to generate sufficient earnings and cash flows.

Legal proceedings

From time to time, we have been subjected to and are currently subject to legal and regulatory proceedings arising out of our business operations, including lawsuits, arbitration claims and inquiries, investigations and enforcement proceedings initiated by the SEC, FINRA and state securities regulators, as well as other actions and claims.

For a discussion of legal proceedings, see Note 14 - Commitments and Contingencies within the notes to the consolidated financial statements and Part I, “Item 1A. Risk Factors” in this Annual Report on Form 10-K.

The opening of Item 3, Legal Proceedings.18

Sources

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