The launch of the Strategic Asset Management Platform put LPL and its advisors at the forefront of the revolutionary shift to fee-based services

CHARLOTTE, N.C., Dec. 01, 2021 (GLOBE NEWSWIRE) — LPL Financial LLC (Nasdaq:LPLA) today announced the 30th anniversary of its Strategic Asset Management (SAM) advisory platform, one of the first-ever, fully fee-based platforms in the financial services industry. The platform paved the way for the firm’s ongoing advisory innovation. Today, LPL serves nearly $600 billion in advisory assets, including nearly $300 billion of assets in SAM, and the firm is a leading custodian to RIAs, institutional programs and independent advisors, supporting the delivery of personalized financial advice**.

The concept for SAM grew out of ideas and feedback from LPL advisors who expressed their desire for a platform that could house multiple mutual funds under one account and allow them to charge clients an annual fee rather than commissions. The platform launched in 1991 and was widely embraced by LPL advisors. It accumulated $5 billion in assets in just a few years, driving increasing differentiation for LPL and the firm’s capacity to shape the future of advice.

“With the introduction of the SAM platform 30 years ago, LPL and our advisors were at the forefront of a revolutionary shift, leading the industry to a more personalized way of offering financial advice,” said Rob Pettman, LPL executive vice president, Wealth Management. “Today, we maintain our commitment to advisor partnership, advisory innovation and leading into the future of advice. Our goal is to equip our RIAs, institutional programs and independent advisors with the industry’s most diverse and compelling suite of wealth management solutions, giving them the ability to differentiate their practices and deliver exceptional service to their clients. As we look ahead at 2022, we will showcase further innovation that offers our advisors more choice, convenience and control.”

About LPL Financial
LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader* in the markets we serve, supporting more than 19,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.

*Top RIA custodian (Cerulli Associates, 2019 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S (Based on total revenues, Financial Planning magazine 1996-2021); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 as of June 2021

**Data as of 10/31/21.

There is no assurance that Strategic Asset Management accounts are suitable for all investors or will yield positive outcomes. The purchase of certain securities will be required to affect some of the strategies. Investing involves risks including possible loss of principal.

Securities and advisory services offered through LPL Financial LLC, an SEC-registered broker-dealer and investment advisor. Member FINRA/SIPC.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial LLC. We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

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Media Contact:
Lauren Hoyt-Williams
(980) 321-1232
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