LPL Financial Holdings (commonly referred to as LPL Financial) is the second largest independent broker-dealer in the United States. As of 2016 the company had more than 14,000 financial advisors, over $500 billion in advisory & brokerage assets, and generated approximately $4 billion in annual revenue for the 2016 fiscal year.  
LPL Financial was formed in 1989 through the merger of two brokerage firms—Linsco (established in 1968) and Private Ledger (established in 1973)—and has since expanded its number of independent financial advisors both organically and through acquisitions. LPL Financial has main offices in Boston, Fort Mill, and San Diego.
Approximately 3,384  employees support financial advisors, financial institutions, and technology, custody, and clearing service subscribers with enabling technology, comprehensive clearing and compliance services, practice management programs and training, and independent research. 
LPL Financial advisors help clients with a number of financial services, including equities, bonds, mutual funds, annuities, insurance, and fee-based programs. LPL Financial does not develop its own investment products, enabling the firm’s investment professionals to offer financial advice free from broker/dealer-inspired conflicts of interest. 
In 1989 LPL Financial was created through the merger of two small brokerage firms, Linsco and Private Ledger. 
In 2003, LPL Financial acquired Private Trust Company, which manages trusts and family assets for high-net-worth clients in all 50 states.
In 2004, LPL Financial acquired the broker/dealer operations of the Phoenix Companies, which offered Phoenix the chance to sell its products through the LPL Financial network. 
In August 2006, LPL Financial expanded its client base following the purchase of UVEST Financial Services, which provided independent brokerage services to more than 300 regional and community banks and credit unions throughout the United States. 
In June 2007, LPL Financial finalized its acquisition of several broker/dealers under the Pacific Select Group (a.k.a. Pacific Life) umbrella, which added 2,000 financial advisors. 
On August 6, 2007, LPL Financial experienced technological issues that impacted all of its financial advisors. The issues were resolved on August 9. Public representatives from LPL Financial have stated that the issues were caused by a technical malfunction during a major upgrade to the system. 
In September 2007, LPL Financial and Sun Life Financial announced a definitive agreement under which an affiliate of LPL Financial acquired Independent Financial Marketing Group, Inc. (IFMG), from Sun Life Financial. Sun Life Financial is a leading international financial services organization. The LPL Financial Institution Services business unit, which manages the IFMG business, is the nation’s top provider of investment and insurance services to banks and credit unions. The deal closed in November 2007.
On January 1, 2008, Linsco/Private Ledger Corp. (LPL Financial Services) changed its brand name to "LPL Financial". 
On November 18, 2010, LPL Investment Holdings Inc., the parent company of LPL Financial, become a publicly traded company on the NASDAQ Stock Market under ticker symbol LPLA. 
In 2011, LPL Financial acquired New Jersey-based Concord Capital Partners, which helps trust companies automate the business practices of their internal investment management activities.
In November, 2015, LPL Financial announced its first advisor online tool suite certification for Investment Support Services. 
In August 2016, LPL officially acquired National Planning Corp, Jackson National Life's Broker Deal company.
Key facts regarding LPL Financial include the following: