LPL Financial Holdings
May 11, 2017

LPL Financial Provides Update on First Quarter 2017 Advisor Recruiting

CHARLOTTE, N.C., May 11, 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 first quarter of 2017.

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

"Our first quarter recruiting results affirmed that LPL is a destination of choice for independent financial advisors seeking to grow their businesses," said Bill Morrissey, LPL managing director and divisional president, Business Development. "As the regulatory environment evolves, advisors are seeking a firm that can be a source of stability and can offer a platform for growth. We have invested in capabilities that differentiate our advisors in the retail space to help them grow. Those investments have included expanding our technology capabilities and enhancing our advisory platform so advisors can serve more clients with differentiated solutions. And we believe the work we have done to prepare for the impending DOL fiduciary rule is industry-leading and will enable our advisors to remain competitive. Our commitment to the infrastructure, resources and technology to support advisors as the industry continues to evolve has clearly resonated in the marketplace. We are positioned well now and into the future to be able to support advisors in their delivery of objective financial advice that serves their client's best interest."

*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 May 11, 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 May 11, 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 $530 billion in brokerage and advisory assets as of March 31, 2017. LPL is one of the fastest growing RIA custodians and the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine June 1996-2016), and the firm and its financial advisors were ranked No. 1 in net customer loyalty in a 2016 Cogent Reports™ study. The Company provides proprietary technology, comprehensive clearing services, practice management programs and training, and independent research to more than 14,000 financial advisors and over 700 financial institutions, enabling them to provide a range of financial services including wealth management, retirement planning, financial planning and other investment services to help their clients turn life's aspirations into financial realities. Financial advisors associated with LPL also serviced an estimated 46,000 retirement plans with an estimated $135 billion in retirement plan assets, as of March 31, 2017. Additionally, LPL supports approximately 3,900 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have more than 3,300 employees with primary offices in Boston, Charlotte, and San Diego. For more information, 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