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Who Are LPL Financial And Private Advisor Group?

As independent financial advisors we have the choice of whom to partner with. In 1993, Ruth Guillaume was looking for a different way to do business, a way in which her clients were the focus, not sales quotas. At the time LPL was a relatively small, unknown independent broker dealer. We’ve continued that partnership and we’ve watched LPL grow into the nation’s largest independent broker dealer*. There are several reasons we work with LPL that are worth noting for our clients and potential clients. The first is that LPL does not have any proprietary products, which in other firms financial advisor may be pressured or incentivized to sell those products. When constructing portfolios, we have no conflicts of interest and are free to use whichever products we think are best. Another noteworthy benefit is that LPL is extremely focused on servicing their financial advisors. It is not a “side business”, it’s what they do. This gives them great insight and focus as they improve their services, handle regulation and manage risk through the vetting of investment companies seeking to make their products available to advisor as well through the added insurance they carry. LPL Financial is a member of SIPC, which provides account protection up to a maximum of $500,000 per customer, of which $250,000 may be claims for cash. An explanatory brochure is available at www.sipc.org. Additionally, through London Insurers, LPL Financial accounts have additional securities protection to cover the net equity of customer accounts up to an overall aggregate firm limit of $575,000,000 subject to conditions and limitations. The account protection applies when a SIPC member firm fails financially and is unable to meet obligations to securities clients, but it does not protect against losses from the rise and fall in the market value of investments. Click here for a letter from LPL’s CFO on their financial strength.

Up until 2015, we were offering securities, brokerage and investment advisory services through LPL. We continue to offer securities and brokerage services through LPL, but we now offer investment advisory services Private Advisor Group (PAG). Private Advisor Group is a nationwide Registered Investment Advisor (RIA) firm that specializes in working with independent financial advisors. The main benefit that PAG offers us is the ability to focus on the day to day needs of our clients. They handle many of the back office compliance and supervision tasks much more effectively and efficiently than we could on our own.

We value the opportunity to partner with organizations that support our desire to offer the best service possible to our clients. Private Advisor Group has over in $8 billion in assets and works with over 500 advisors nationwide**. More information about PAG can be found on their website here. The form ADV for Private Advisor Group can be viewed on Securities and Exchange website here.

*As reported in Financial Planning magazine June 1996-2015, based on total revenues.
**As of June 12, 2015