LPL Financial Launches Integrated Advisor Solution

LPL Financial Corporation announced today plans to continue to expand its product and service offering with introduction of an integrated advisor solution platform, supporting independent Registered Investment Advisors (RIA) and Hybrid (dually registered) advisors. This platform enables advisors to address all of their clients' commission and fee-based needs while also allowing them the flexibility to grow their independent RIA offering across any business model. LPL Financial plans to roll this offering out in late 2008.

LPL Financial will provide RIA and Hybrid advisors one of the most comprehensive offerings available, with access to a broad range of investment services and products, dedicated and experienced service staff, and best-in-breed technology. As part of the formal market rollout, LPL Financial will also be offering prospective financial advisors high-touch transition services to ensure a smooth on-boarding process.

"We view our continued expansion into the RIA and Hybrid markets as a key growth driver for the LPL Financial business, and especially our financial advisors' businesses in 2008 and beyond," said LPL Financial CEO, Mark Casady. "With this new offering, LPL Financial is redefining the idea of independent advice. This further demonstrates our commitment to provide independent advisors with a conflict-free and unbiased approach to allow them to grow their business on their terms."

The company has appointed industry veteran, Gary Gallagher, to Executive Vice President, Head of RIA Services. Based in Boston, Mr. Gallagher will report to Esther Stearns, President and COO, and is responsible for building out the RIA and Hybrid business at LPL Financial.

"We have tremendous confidence that Gary's experience in the RIA and Hybrid marketplace, combined with his impressive track record at a number of leading financial institutions, will allow us to build out an industry-leading offering that is critical to supporting this unique advisor group," said LPL Financial President and COO Esther Stearns. "The understanding and commitment Gary brings to this position underscore our continued dedication at LPL Financial to delivering the most choice and flexibility to our independent advisors."