LPL Financial LLC
Assets Under Management
$618.9B
Number of Clients
1,676,192
Number of Advisors
26654
Average Client AUM
$369K
AUM per Advisor
$23.2M
Compensation
Commission-BasedFee-Only (AUM)Fixed/Hourly
About This Firm
LPL Financial sponsors the Optimum Market Portfolios (OMP) program, offering professionally managed mutual fund asset allocation. LPLE IARs gather client financial data, determine program suitability, and select a model portfolio of Optimum Funds based on the client's investment objective. LPL has discretion to buy/sell securities and rebalances accounts. Financial planning may be offered at no additional cost or through a separate agreement.
Fee Structure
The OMP program has an annualized account fee, negotiable up to a maximum of 2.50% of assets, charged quarterly in advance. LPL also assesses a $5 transaction charge on each purchase and sale, but this is waived if an eligible contribution was made in the previous 365 days. Clients also pay other miscellaneous administrative or custodial-related fees. There are also fees charged by the Optimum Funds themselves. If the account is closed within the first six months, LPL and LPLE reserve the right to retain the pre-paid quarterly Account Fee.
Areas of Practice
Location
1055 Lpl Way, Fort Mill, SC, 29715
