Benefits of IndependenceTop 7 Myths of IndependenceWhat Advisors Are SayingIndependent and Insurance AdvisorsWirehouse Advisors

WHAT THEY HAVE TO SAY

1. “Moving my business to LPL Financial was the biggest and the best decision I have made during my tenure in the investment business. Over the previous 16 years, I worked for a major wirehouse firm and two regional firms.

I left my last employer because I wanted to better serve my clients and to build a book of business that I could sell some day. I wanted to work with an independent broker/dealer; LPL Financial is the largest and soundest firm in the industry. I can now offer a broader and more diverse universe of products and services to better serve my clients. They have been true to their statement when they interviewed me almost four years ago, “You are the LPL Financial customer; your clients are your clients, not ours.”Now that’s a refreshing view in this industry!

It is an important decision and often a turning point to run your own business; if you set your mind to it, it is the most rewarding thing an advisor can do, financially and personally. My payouts are much larger and my tax write offs are much better. I manage my own time; I work hard so that my income is steady and growing but flexibility is my decision. My clients are thrilled with the product offerings, the planning and the improved service levels I can now provide them. LPL Financial offers the kind of “partnership” a business owner like myself needs in this demanding industry.”

- Christine Tarr

2. “As an employee of a wirehouse, I was required to work 50- to 60-hour weeks just to put food on the table. The payout structure was so limited that even when I would bring significant assets in, my payout was discouraging.

The wirehouse that I was employed by would try to discourage me from making a move to independence by telling me that the level of support in the independent world would be greatly reduced. They would also claim that my expense levels would rise so dramatically that my profitability would be reduced. I have found that life with LPL Financial has been just the opposite of that portrayal. And with my dramatic increase in income (my income has quadrupled), the expenses have become insignificant.

To anyone out there that might be hesitating about making the move from your current world to the independent life at LPL Financial, jump at the opportunity and never look back. My life at LPL Financial is far superior to the treadmill life I had before at my wirehouse employer. This is the best career move that I have ever made!”

- Jim Rigtrup

3. “I had looked at LPL Financial for a long time and wish I would have come sooner rather than taking an upfront check to go to another wirehouse. I had such high expectations because every LPL Financial advisor I spoke to before joining gave rave reviews. All my expectations were exceeded. And, because I'm an independent contractor at LPL Financial, I have contributed over 100k to my 401k profit sharing plan over last two years. If I was still at the wirehouse, I could only contribute 30k.”

- Bill Duggins

4. "Four years ago I did not know that being a business owner could be so gratifying. But, I did know coming into the independent world that I wanted to offer unbiased, independent advice to my clients. I thought too much of my clients than to push them into proprietary products. The flexibility to actually serve your clients, especially in an advisory capacity, allows for a fee-based arrangement that allows for a win/win result. LPL Financial offers platforms, technology, research and support that enhances the success for anyone who wants to take control of their investment business. I pinch myself every day knowing that I made the best career decision of my life."

- John Collins

5. “The driving force for me to make a change was the opportunity to truly be the owner of my own business. LPL Financial provides advisors the opportunity to make all the decisions about how their businesses will be created and operated, while offering outstanding investment platforms, technology and support. If an advisor truly wants to be their own boss without sacrificing resources offered by large regional or wirehouse firms, I strongly recommend LPL Financial.”

- Mike Rowe

6. “I joined LPL Financial with a vision of working with fewer clients and moving to a fee-based platform. I have more than doubled my assets and revenue while working with half the clients. Recurring fee based income represents 65% of my revenue. Most important, I feel like I am much more capable of meeting my client's ongoing needs!”

- Michael W. Lutz

7. “Independence and LPL Financial are synonymous in my eyes. I had hit a wall where I lost faith in the direction of my prior company and my words fell on deaf ears. I realized that I no longer wanted to be in a situation where someone else could control the service I provided to my clients. But I was very concerned that going independent would not provide me with the level of support in which I had become accustomed. Even after talking to several LPL Financial reps, set up by my recruiter; I still found it hard to believe that the grass could really be that green on the other side.

I found that what I was told and so much more are offered at LPL Financial. Since the first day I started I have never looked back and never had to think again, "what else is out there."Through client support on pre- and post- sales, extensive investment opportunities, integrated solutions, advanced tools and client reports, constant software and reporting advancements, and so much more; LPL Financial provides a level of support and solutions that far exceed anything else I have seen in the industry.

LPL Financial gives a representative the tools to be successful and then allows you to do what you do best. At the end of the day, it is your business and you control the direction and destiny.”

- Jon B Riley

8. “After spending 11 years with [a national wirehouse], I discovered there is a place that provides better technology, solutions and efficiencies and (that place) is LPL Financial. My clients have been wowed by the reports we can share with them regarding their accounts performance and allocation.

In the past when I thought about going independent it meant I would no longer have the support of a back office, such as Advisory Services, Retirement Services and New Account Services. LPL Financial has provided the same support as my previous firm and a whole lot more.

The most important thing to me is knowing I own the book, I am in control of my future, and I know I am being rewarded both professionally and personally for my time spent working. Because I own my future, the relationship and services I provide my clients has never been more important or fulfilling to me.

- Paul Newland

9. “I came to LPL Financial to run my own business and have control over my own destiny. Approximately 50% of my assets followed me from the bank. My initial perception of LPL Financial was that of what appeared to be a well-run organization centered around servicing the FA and client. The perception at this point is true. I am impressed with the service and support of the FA to date.

- Mark M. De Maine, M.S.A.

10. "I guess you could say I've just about seen it all after thirty years in this business. The systems that LPL Financial have designed for their representatives is like a blank canvas to an artist. You have everything you need to paint a Picasso if it's what you desire or you can paint a barn if that's all you want. It's really up to you."

- Frank J Antonucci, CFP

11. “I expected that with higher payouts I would take a step backward in back office support; that did not happen. Thank you LPL Financial!”

- Joseph Keifer

12. “The autonomy to run your business the way you want is unbelievable. I have the freedom to do what is right for my clients.”

- Brian Shackleford

13. “I came to LPL Financial for a couple of major reasons. One is obviously I wanted the independence to manage my own office. Secondly, LPL Financial is the only firm I researched that offered full service similar to my prior firm. LPL Financial has the fee-based platforms, robust client website and better technology than my previous firm.

My initial impression was a well-run organization with a lot of experience in assisting advisors such as myself move toward independence. Also, LPL Financial was obviously the big fish in the tank, so to speak, and had avoided the temptation to begin delving into investment banking and proprietary products, which is critical to continued success as an independent.  This impression has not changed much other than the technology platforms are so robust it is a little overwhelming but will be great in the long run as our learning curve improves.”

- Gary James