o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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•	Earnings per share ("EPS") increased 76% year-over-year to $1.30.

◦	Net Income increased 74% year-over-year to $119 million.

•	EPS prior to Amortization of Intangible Assets** increased 76% year-over-year to $1.42.

•	Total Brokerage and Advisory Assets increased 22% year-over-year to $659 billion, up 2% sequentially.

◦	Total Brokerage and Advisory Assets prior to NPH increased 8% year-over-year to $587 billion, up 2% sequentially.

•	Total Net New Assets were an inflow of $2.5 billion, including $1.5 billion from NPH.

◦	Total Net New Assets prior to NPH were an inflow of $1.0 billion, translating to a 0.7% annualized growth rate.

•	Net new advisory assets prior to NPH were an inflow of $4.1 billion, translating to a 6.1% annualized growth rate.

•	Net new brokerage assets prior to NPH were an outflow of $3.1 billion, translating to a (4.1)% annualized rate.

◦	Recruited Assets(1) were $6.0 billion in Q2, and $9.6 billion year-to-date.

◦	Advisor count was 16,049 and production retention rate year-to-date was 96%.

•	Prior to NPH, net new advisors were 35.

•	Gross Profit** increased 24% year-over-year to $483 million, including approximately $42 million generated by NPH advisors.

•	EBITDA** increased 37% year-over-year to $233 million.

◦	EBITDA prior to NPH increased 26% year-over-year to $214 million.

◦	EBITDA as a percentage of Gross Profit was 48%, up from 44% a year ago.

•	EBITDA as a percentage of Gross Profit prior to NPH was 49%, up from 44% a year ago.

◦	Core G&A** increased 9% year-over-year to $192 million, and decreased 4% sequentially.

•	Core G&A prior to NPH was flat from a year ago at $176 million, and decreased 3% sequentially.

•	Completed NPH asset onboarding in Q2, and total net new assets from this transaction were approximately $72 billion.

•	Reached the Company’s $90 million NPH annual run-rate EBITDA accretion estimate in Q2, ahead of its anticipated end of 2018 timing.

•	Tightened 2018 Core G&A** outlook range of $805 to $825 million from prior outlook of $800 to $830 million.

•	Returned $139 million of capital to shareholders in Q2, through $117 million of share repurchases and $22 million of dividends.

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•	The Company returned capital to shareholders totaling $139 million in Q2 2018, translating to $1.52 per share.

◦	Deployed $117 million of capital to repurchase 1.8 million shares at an average price of $65.20 per share in Q2 2018.

◦	Paid dividends of $22 million on June 1, 2018. For the third quarter, the Company's Board of Directors declared a $0.25 per share dividend to be paid on August 23, 2018 to all stockholders of record as of August 9, 2018.

•	Capital expenditures were primarily driven by technology spend and totaled $26 million in Q2.

•	Cash available for corporate use was $446 million as of quarter-end, and Credit Agreement Net Leverage Ratio, which only applies to the revolving credit facility, was 2.34x, down 0.12x from the prior quarter.

◦	After applying $300 million of cash available for corporate use to Credit Agreement Net Debt, this left an additional $146 million of cash, which if applied to the debt, would further reduce the Credit Agreement Net Leverage Ratio to 2.17x.

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(a)	The Revolving Credit Facility has a borrowing capacity of $500 million.

(b)	The LIBOR rate option is one-, two-, three- or six-month LIBOR rate and subject to an interest rate floor of 0 basis points.

(c)	The Senior Unsecured Notes were issued in two separate transactions; $500 million in notes were issued in March 2017 at par; the remaining $400 million were issued in September 2017 and priced at 103% of the aggregate principal amount.

(d)	Does not include unamortized premium of approximately $10.8 million as of June 30, 2018.

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(1)

Recruited Assets represents the estimated total brokerage and advisory assets expected to transition to the Company's broker-dealer subsidiary, LPL Financial LLC ("LPL Financial"), associated with advisors who have transferred their licenses to LPL Financial during the period. The estimate is based on prior business reported by the advisors, which has not been independently and fully verified by LPL Financial. The actual transition of assets to LPL Financial generally occurs over several quarters including the initial quarter, and the actual amount received may vary from the estimate.

(2)	The information presented on pages 8-17 includes non-GAAP financial measures and operational and performance metrics. For more information on non-GAAP financial measures, please see the section titled “Non-GAAP Financial Measures” on page 3.

(3)	Other asset-based revenues consist of revenues from the Company's sponsorship programs with financial product manufacturers and recordkeeping services, but does not include fees from cash sweep programs. Other asset-based revenues are a component of asset-based revenues and are derived from the Company's Unaudited Condensed Consolidated Statements of Income.

(4)	Core G&A is a non-GAAP financial measure. Please see a description of Core G&A under “Non-GAAP Financial Measures” on page 3 of this release for additional information. Below is a reconciliation of Core G&A against the Company’s total operating expense for the periods presented:

(5)	Consists of total advisory assets under custody at LPL Financial.

(6)	Consists of brokerage assets serviced by advisors licensed with LPL Financial.

(7)	Consists of total assets on LPL Financial's corporate advisory platform serviced by investment advisor representatives of LPL Financial.

(8)	Consists of total assets on LPL Financial's independent advisory platform serviced by investment advisor representatives of separate investment advisor firms ("Hybrid RIAs"), rather than of LPL Financial.

(9)	Represents those Advisory Assets in LPL Financial’s Model Wealth Portfolios, Optimum Market Portfolios, Personal Wealth Portfolios, and Guided Wealth Portfolios platforms.

(10)	Total Retirement Assets are a component of Total Brokerage and Advisory Assets. This measure does not include additional retirement plan assets custodied with third parties, estimated to be $147 billion as of June 30, 2018.

(11)	Consists of total client deposits into advisory accounts less total client withdrawals from advisory accounts. The Company considers conversions from and to brokerage accounts as deposits and withdrawals respectively.

(12)	Consists of total client deposits into brokerage accounts less total client withdrawals from brokerage accounts. The Company considers conversions from and to advisory accounts as deposits and withdrawals respectively.

(13)	Consists of existing custodied assets that converted from brokerage to advisory, less existing custodied assets that converted from advisory to brokerage.

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(14)	Calculated as annualized current period net new assets divided by preceding period assets in their respective categories of advisory assets or total brokerage and advisory assets.

(15)	Consists of total client deposits into advisory accounts on LPL Financial's corporate advisory platform (FN 7) less total client withdrawals from advisory accounts on its corporate advisory platform.

(16)	Consists of total client deposits into advisory accounts on LPL Financial's independent advisory platform (FN 8) less total client withdrawals from advisory accounts on its independent advisory platform.

(17)	Consists of total client deposits into Centrally Managed Assets accounts (FN 9) less total client withdrawals from Centrally Managed Assets accounts.

(18)	Calculated by dividing revenue for the period by the average balance during the period.

(19)	Under the Credit Agreement, management calculates Credit Agreement EBITDA for a trailing twelve month period at the end of each fiscal quarter.

(20)	Represents estimated potential future cost savings, operating expense reductions or other synergies included in Credit Agreement EBITDA in accordance with the Credit Agreement relating to the acquisition of NPH. Such amounts do not represent actual performance and there can be no assurance that any such cost savings, operating expense reductions or other synergies will be realized.

(21)	Represents the portion of Credit Agreement EBITDA that management estimates to be attributable to the NPH acquisition, which is added back to offset NPH run-rate EBITDA accretion, in accordance with the Credit Agreement.

(22)	Represents items that are adjustable in accordance with the Credit Agreement to calculate Credit Agreement EBITDA, including employee severance costs, employee signing costs, employee retention or completion bonuses, and other non-recurring costs.

(23)	Consists of cash unrestricted by the Credit Agreement and other regulations available for operating, investing, and financing uses.

(24)	Calculated based on the average advisor count from the current period and prior period.

(25)	Calculated based on the end of period Total Brokerage and Advisory Assets divided by end of period Advisor count.

(26)	Represents the amortization expense attributable to forgivable loans from transition assistance paid to advisors and financial institutions.

(27)	Represents annualized Gross Profit (FN 2) for the period, divided by average month-end Total Brokerage and Advisory Assets for the period.

(28)

Represents annualized operating expenses for the period, excluding production-related expense, divided by average month-end Total Brokerage and Advisory Assets for the period. Production-related expense includes commissions and advisory expense and brokerage, clearing and exchange expense. For purposes of this metric, operating expenses includes Core G&A (FN 4), Regulatory, Promotional, Employee Share Based Compensation, Depreciation & Amortization, and Amortization of Intangible Assets.

(29)	EBIT ROA is calculated as Gross Profit ROA less OPEX ROA.

(30)	Reflects retention of commission and advisory revenues, calculated by deducting the prior year production of the annualized year-to-date attrition rate, over the prior year total production.

(31)

Recurring Gross Profit Rate refers to the percentage of the Company’s gross profit, a non-GAAP financial measure, that was recurring for the period presented. Management tracks recurring gross profit, a characterization of gross profit and a statistical measure, which is defined to include the Company’s revenues from asset-based fees, advisory fees, trailing commissions, cash sweep programs, and certain other fees that are based upon client accounts and advisors, less the expenses associated with such revenues and certain other recurring expenses not specifically associated with a revenue line. Management allocates such other recurring expenses, such as non-GDC sensitive production expenses, on a pro-rata basis against specific revenue lines at its discretion.

(32)	Capital Allocation per Share equals the amount of capital allocated for share repurchases and cash dividends divided by the diluted weighted-average shares outstanding.

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(33)	EPS prior to amortization of intangible assets is a non-GAAP financial measure. Please see a description of EPS prior to amortization of intangible assets under “Non-GAAP Financial Measures” on page 3 of this release for additional information. Below is a reconciliation of EPS, prior to amortization of intangible assets against the Company’s GAAP EPS for the periods presented: