LPL Provides Update On 4th Quarter 2016 Advisor Recruiting

CHARLOTTE, N.C. – May 16, 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 provided an update on financial advisors who chose to affiliate with the firm in the first quarter of 2016.

Select new advisors, their approximate respective assets served* as of a recent date prior to joining LPL and their (former firm) include:

$100M+

• Jacob Chaparro, San Diego (TD Ameritrade Inc.)
• Christopher Cotterell and Ryan Oates, Winchester, Va. (Infinex Investments)
• Philip Doster, Chicago (Merrill Lynch)
• Paul Duncan, Carlsbad, Calif. (Securities America)
• Anthony Gambacorta, Wayne, Pa. (J.P. Morgan Securities)
• Mark Griffin and Roy Wells, Kenai, Alaska (Waddell & Reed)
• Christopher Huston, Downers Grove, Ill. (Northern Trust Securities)
• Philip Fogli Sr., Philip Fogli Jr., Marcos Lopez, David Marcinowski and Joshua Walker, Philadelphia (Geneos Wealth Management)
• Elizabeth Mahoney and Robert Rittel, Scottsdale, Ariz. (Wells Fargo Advisors)
• Kevin Merling, Downers Grove, Ill. (Fidelity Brokerage Services)
• Elizabeth Skillman, San Diego (TD Ameritrade Inc.)
• David Weigand, Williamsville, N.Y. (M&T Securities)
• Stephen Wendt, Burr Ridge, Ill. (Commonwealth Financial)=

$50M-$99M

• Nasser Ahmad, Sunnyvale, Calif. (Fidelity Brokerage Services)
• Peter Bell, Chico, Calif. (Stifel Nicolaus)
• Edwin Blanchard, Golden, Colo. (Morgan Stanley)
• Robert Blanchard, New Haven, Conn. (Morgan Stanley)
• Linda Chappell, Arabi, Ga. (Edward Jones)
• Brandon Edwards, Mt. Juliet, Tenn. (Waddell & Reed)
• Hunter Hart, Shreveport, La. (Edward Jones)
• Frank Martin, Panama City Beach, Fla. (Raymond James)
• Elizabeth Mastromarino, Reading, Pa. (Geneous Wealth Management)
• Kevin McCoy II, Houston (BBVA Securities)
• Michael Mollica, Longwood, Fla. (Cetera Financial Specialists)
• Richard Nakawatase, City of Industry, Calif. (First Allied Securities)
• Vincent Sturm, Perry, Iowa (Investacorp)
• Allyson Trantum, Temecula, Calif. (Edward Jones)
• Gregory Van Kesteren, Walnut Creek, Calif. (RBC Capital Markets Corp.)

$30M-$49M

• Justin Bohall, Jamestown, N.Y. (UBS Financial Services)
• Thomas Caruso Sr., Thomas Caruso Jr. and Domenica Caruso, Hawthorne, N.Y. (Cetera Financial Specialists)
• Andrew Chatham, Hollister, Calif. (MML Investors Services)
• Brian Doak, Indianapolis (David A. Noyes & Co.)
• Jeffrey Doom, Plymouth, Minn. (Merrill Lynch)
• Deuce Everhart, Mesa, Ariz. (Wells Fargo Advisors)
• Teshay Flowers, Arlington, Texas (Ameriprise Financial Services)
• Dale Giem, Twin Bridges, Mont. (D.A. Davidson & Co.)
• Peyton Gravely, Mount Airy, N.C. (BB&T Investment Services)
• Fredric Jurmu, Irvine, Calif. (Wells Fargo Advisors)
• Casey Kemerly, Pendleton, Ind. (Edward Jones)
• Matthew Mai, Beaverton, Ore. (Edward Jones)
• Mark Massey, Murrieta, Calif. (National Planning Corp.)
• Traci Multari, Hermitage, Pa. (The Huntington Investment Corp.)
• Matt Mundy, Chandler, Ariz. (Kalos Capital)
• John Palmieri, Warren, Pa. (PNC Investments)
• Steven Parkinson, Plainville, Mass. (MML Investors Services)
• Samudra Raychaudhuri, Matawan, N.J. (Ameriprise Financial Services)
• William Schmidt, Mount Dora, Fla. (Cetera Advisors)
• Clarence Slaughter III, Greensboro, N.C. (NFP Securities)
• William Snuggerud, Plymouth, Minn. (UBS Financial Services)
• Christopher Urness, Scottsdale, Ariz. (Waddell & Reed)
• Brian Whinnery, Minneapolis (RBC Capital Markets Corp.)

“LPL saw solid recruiting in the first quarter, despite industry headwinds that included volatile markets and lingering uncertainty regarding the Department of Labor’s fiduciary rule. We believe that our efforts to prepare for the DOL ruling, including the proactive platform and pricing changes we announced in March, provided another compelling reason for advisors to move to LPL’s independent platform. In general, we saw prospects respond well to the value our size and scale brings to helping them navigate through these and other significant industry changes.”

*Each individual advisor asset number was reported by the advisor based on prior business, includes both brokerage and advisory assets, and has not been independently and fully verified by LPL Financial.

The information in this press release is not intended to update or change any of the information, including information about recruiting results, previously publicly disclosed by LPL Financial.

Forward-Looking Statements

Statements in this press release regarding LPL Financial Holdings Inc.'s (together with its subsidiaries, including LPL Financial LLC, the "Company") potential future levels of assets serviced, growth, business strategy, and plans, as well as any other statements that are not related to present facts or current conditions or that are not purely historical, constitute forward-looking statements. These forward-looking statements are based on the Company's historical performance and its plans, estimates and expectations as of May 16, 2016. The words “potential,” "anticipates," "intends," "believes," "expects," "may," "plans," "predicts," "will" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are not guarantees that the future levels of assets serviced, results, plans, intentions or expectations expressed or implied by the Company will be achieved. Matters subject to forward-looking statements involve known and unknown risks and uncertainties, including economic, legislative, regulatory, competitive and other factors, which may cause levels of assets serviced, actual financial or operating results, levels of activity, or the timing of events, to be materially different than those expressed or implied by forward-looking statements. In particular, the Company can provide no assurance that the assets reported as serviced by its newly recruited financial advisors at their prior firms will translate into assets serviced at LPL. Important factors that could cause or contribute to such differences include: the choice by one or any of the clients of the Company's newly recruited financial advisors mentioned in this press release not to open brokerage and/or advisory accounts at LPL Financial and/or move their respective assets from advisor’s prior firm to a new account at LPL Financial; discovery of errors made in the calculation of assets serviced reported by the newly recruited advisor; changes in general economic and financial market conditions, including retail investor sentiment; fluctuations in the value of assets under custody; effects of competition in the financial services industry; and the other factors set forth in Part I, "Item 1A. Risk Factors" in the Company's 2015 Annual Report on Form 10-K and any subsequent SEC filing. Except as required by law, the Company specifically disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release, even if its estimates change, and you should not rely on those statements as representing the Company's views as of any date subsequent to the date of May 16, 2016.

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

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Media Contact:

Lauren Hoyt-Williams

980-321-1232

Lauren.Hoyt-Williams@lpl.com