LPL Financial's 50 State Network Empowers LPL Financial Advisors to Join Industry Advocacy Efforts

CHARLOTTE, N.C. – Feb. 7, 2019 – LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced it has launched the LPL Financial 50 State Network. The program serves as an advisor call to action, designed to empower more LPL Financial advisors to partner with LPL Government Relations and provide the voice of the advisor and their investors in efforts to shape policies that affect their business.

“At LPL, we are in a position to use our industry leadership to contribute to critical policy discussions that impact our independent advisors and investors,” said Peggy Ho, LPL Financial executive vice president and head of Government Relations. “With support and input from our national network of 16,000 financial advisors, we can help policymakers better understand the value of the work they do and nurture a conducive environment to be able to thrive as independent business owners by serving the needs of investors.”

The program was inspired by advisors who have already taken the call, having demonstrated the impact of sharing their unique perspectives to help legislators better understand the needs of small business owners, independent financial advisors and their clients. LPL Financial advisors Larry Leitch and Jamie Cox met with U.S. Department of Treasury officials, and Mike Brady testified before the Internal Revenue Service and the Department of Treasury regarding the recent pass-through deduction issue related to this year’s tax reform package. In addition, LPL Financial advisors in Nevada and Maryland have been actively participating in discussions regarding the fiduciary rule.

As ambassadors, advisors take part in training and education with the Government Relations team and have the chance to discuss topics or issues that matter most to them. Advisors then collaborate with the network to help activate grassroots advocacy when needs arise. By serving as the “boots on the ground” in their home states, advisors work to build relationships with federal legislators and state-level policymakers, serving as a resource to inform their drafting of policies important to financial advisors and their clients.

Tom Tye of the Tye Financial Group of Kentucky has been politically involved for years and he said he believes his advocacy activity benefits his business. “There will always be issues that need to be addressed and we need to be out front providing key information to our respective state leaders and regulators,” he said. “I encourage everyone to get involved, to lend your voice, on matters important to your clients, our business, and our industry.”

About LPL Financial

LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker-dealer* We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.