Four LPL Financial Bank and Credit Union Program Managers Recognized Among Top in the Industry

CHARLOTTE, N.C. – May 13,  2016 – Leading retail investment advisory firm and independent broker/dealer LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today announced that four LPL-supported program managers have been included in the 2016 Top 20 Program Managers list published by Bank Investment Consultant (BIC), a leading information source for bank and credit union financial advisors, program managers and executives. In addition to the Top 20 list, BIC published an honorable mention roster, ranking from 21 to 40, which included 6 LPL-supported program managers.

The lists recognize successful bank and credit union program managers based on several key areas, including average production per advisor, growth of team assets from the previous year, growth of team production from the previous year, the number of advisors under the manager's direct supervision and the number of licensed branch employees under the supervision of the program manager.

LPL-supported program managers recognized on the Top 20 list include:

• #8 – Brian Voss – NBT Bank, Norwich, N.Y.
• #14 – Chad Waddoups, Mountain America Credit Union, West Jordan, Utah
• #16 – Kristen Vitale, First Midwest Bank, Itasca, Ill.
• #20 – Louis Mastropietro, Astoria Bank, Lake Success, N.Y.

"On behalf of LPL, I congratulate these individuals on being recognized for the leadership they have demonstrated in supporting and growing their institution’s investment program," said Andy Kalbaugh, managing director and divisional president, LPL Financial. "We are proud to support these program managers and their teams with the resources and tools that enable them to help investors work toward their financial goals."

The full BIC Top 20 Program Managers list for 2016 can be found online at BankInvestmentConsultant.com.

About LPL Financial

LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the retail financial advice market and served $479 billion in advisory and brokerage assets as of March 31, 2016. LPL is one of the fastest growing RIA custodians and is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine June 1996-2015). The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 independent financial advisors and over 700 banks and credit unions, enabling them to help their clients turn life's aspirations into financial realities. Advisors associated with LPL also service an estimated 45,000 retirement plans with an estimated $121 billion in retirement plan assets, as of March 31, 2016. LPL also supports more than 4,200 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have more than 3,400 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.

Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC. The investment products sold through LPL Financial are not insured bank/credit union deposits and are not FDIC/NCUA insured. These products are not obligations of a bank/credit union and are not endorsed, recommended or guaranteed by a bank/credit union or any government agency. The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible. The listed banks or credit unions are not affiliated with LPL Financial. Bank Investment Consultants and LPL Financial are not affiliated.

###