LPL Financial Holdings Inc.
Mar 1, 2017

LPL Financial Provides Update on Fourth Quarter 2016 Advisor Recruiting

CHARLOTTE, N.C., March 01, 2017 (GLOBE NEWSWIRE) -- Leading retail investment advisory firm and independent broker/dealer LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), today provided an update on financial advisors who chose to affiliate with the firm in the fourth quarter of 2016.

Select new advisors, their approximate respective assets served* as of a recent date prior to joining LPL and their (former firm) include:

$100M+

$50M-$99M

$30M-$49M

"The fourth quarter of 2016 was a very successful quarter for recruiting at LPL and helped secure 2016 as LPL's best recruiting year in the history of the firm," Bill Morrissey, LPL managing director and divisional vice president, Business Development. "In 2016, there were a number of macro conditions impacting the marketplace, including increased regulatory complexity, advisor and firm consolidation, the election and uncertainty around the Department of Labor fiduciary rule. In an industry where inertia is sometimes the biggest obstacle, we were able to capitalize on these macro trends.  We enjoyed strong business results with these disruptions in the marketplace and resulting flight to quality. Advisors today are looking for a long-term partner, one with the ability to adapt to change in the marketplace. We continue to recruit advisors at scale across all four major channels with in the independent sector being the most active source of advisors for us in 2016.

"Our 2016 results provide strong momentum going into the new year. LPL will continue to invest in technology, people and infrastructure to provide advisors with the tools and resources they need to serve their clients and enhance their experience with LPL."

*Each individual advisor asset number was reported by the advisor based on prior business, includes both brokerage and advisory assets, and has not been independently and fully verified by LPL Financial.

The information in this press release is not intended to update or change any of the information, including information about recruiting results, previously publicly disclosed by LPL Financial.

Forward-Looking Statements
Statements in this press release regarding LPL Financial Holdings Inc.'s (together with its subsidiaries, including LPL Financial LLC, the "Company") potential future levels of assets serviced, growth, business strategy, and plans, as well as any other statements that are not related to present facts or current conditions or that are not purely historical, constitute forward-looking statements. These forward-looking statements are based on the Company's historical performance and its plans, estimates and expectations as of March 1, 2017. The words "potential," "anticipates," "intends," "believes," "expects," "may," "plans," "predicts," "will" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are not guarantees that the future levels of assets serviced, results, plans, intentions or expectations expressed or implied by the Company will be achieved. Matters subject to forward-looking statements involve known and unknown risks and uncertainties, including economic, legislative, regulatory, competitive and other factors, which may cause levels of assets serviced, actual financial or operating results, levels of activity, or the timing of events, to be materially different than those expressed or implied by forward-looking statements. In particular, the Company can provide no assurance that the assets reported as serviced by its newly recruited financial advisors at their prior firms will translate into assets serviced at LPL. Important factors that could cause or contribute to such differences include: the choice by one or any of the clients of the Company's newly recruited financial advisors mentioned in this press release not to open brokerage and/or advisory accounts at LPL Financial and/or move their respective assets from advisor's prior firm to a new account at LPL Financial; discovery of errors made in the calculation of assets serviced reported by the newly recruited advisor; changes in general economic and financial market conditions, including retail investor sentiment; fluctuations in the value of assets under custody; effects of competition in the financial services industry; and the other factors set forth in Part I, "Item 1A. Risk Factors" in the Company's 2016 Annual Report on Form 10-K and any subsequent SEC filing. Except as required by law, the Company specifically disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release, even if its estimates change, and you should not rely on those statements as representing the Company's views as of any date subsequent to the date of March 1, 2017.

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 provided service to approximately $517 billion in advisory and brokerage assets as of January 31, 2017. 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 46,000 retirement plans with an estimated $127 billion in retirement plan assets, as of December 31, 2016. LPL also supports approximately 4,000 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. For more information, please visit www.lpl.com.

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