LPL Financial Announces Fee Reductions for Centrally-Managed Advisory Platforms

BOSTON, July 27, 2015 (GLOBE NEWSWIRE) -- LPL Financial LLC, the nation's largest independent broker-dealer*, registered investment advisor (RIA), a custodian for and leading service provider to registered investment advisors, and a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), today announced that it is eliminating selected fees from its Model Wealth Portfolios (MWP) and Optimum Market Portfolios (OMP) advisory platforms. The announcement was made at LPL Focus 2015, one of the industry’s largest conferences, attended by approximately 7,000 people.

"At LPL, we help advisors grow their practices by providing solutions that we believe create value for investors,” said LPL President Dan Arnold. “A great example of this is by eliminating selected fees in our centrally-managed platforms in order to lower the cost of accessing quality financial advice for investors and enable financial advisors to provide their services more cost-effectively.”

As part of the changes, the strategist fee charged for all LPL Research models in MWP will be eliminated in early 2016. This fee elimination will allow advisors to offer LPL Research model portfolios for the MWP platform at a 15-20 basis point cost reduction. In addition, the firm announced that the IRA maintenance fee will be removed from its MWP and OMP platforms in early 2016 as well.

“These changes are a win-win for both advisors and their clients,” added Arnold. “LPL has a history of leadership in the advisory space, and we have been known for passing along the benefits of our scale to our affiliated advisors, which in turn allows for strong growth in new accounts and total assets. We are pleased to be able to introduce these pricing changes, which will continue to be a strategic differentiator for our firm, while helping more end investors receive the independent, objective advice they need.”

*Based on total revenues, Financial Planning magazine, June 1996-2015

About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the financial advice market and serves $485 billion in retail assets. 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 more than 700 banks and credit unions. LPL Financial is the nation's largest independent broker-dealer since 1996 (based on total revenues, Financial Planning magazine, June 1996-2015), is one of the fastest growing RIA custodians with $105 billion in retail assets served, and acts as an independent consultant to over an estimated 40,000 retirement plans with an estimated $120 billion in retirement plan assets served, as of March 31, 2015. In addition, LPL Financial supports approximately 4,300 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,352 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit

Securities and advisory services offered through LPL Financial. A registered investment advisor,
member FINRA/SIPC.


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Source:LPL Financial