If you work with an independent financial advisor, that person may run a small business of their own. Behind that practice there is probably a firm that handles trades, holds client accounts and checks compliance. For more than 32,000 advisors, that firm is LPL Financial. It describes itself as the largest independent broker-dealer in the United States (a firm that processes trades for advisors running their own practices). Its customers are the advisors and the wealth arms of financial institutions, not the investors themselves.
Loading page…