LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader in the markets we serve,* supporting nearly 22,000 financial advisors, and approximately 800 institution-based investment programs and 500 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients. 

In June 2021, Puzzle Wealth Solutions announced its decision to join LPL Financial’s broker-dealer, hybrid RIA, and custodial platforms, aligning with Gladstone Wealth Partners to support the firm’s move to independence. Having previously served roughly $1.2 billion in client assets and transitioning from UBS, the Puzzle team embraced the shift to an independent model that offers greater transparency and the ability to act in clients’ best interests. The firm selected LPL for its flexible custodial platform and technology tools, and Gladstone’s partnership model for added support and resources to grow the business. You can read the official LPL press release here. 

With that said, what is the true relationship between Puzzle and LPL Financial? We have a high-level client service team at LPL that is dedicated to support the operational needs of our team at Puzzle. Separately, when it comes to where your assets are located, LPL Financial custodies the investment holdings, so that our clients can feel confident their assets are secure. In turn, Puzzle pays a portion of your annual management fee to LPL for this service. We love the relationship since LPL is NOT a bank and they carry the strength of a Fortune 500 company**.

*No. 1 Independent Broker-Dealer in the U.S (Based on total revenues, Financial Planning magazine 1996-2024); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 Company as of June 2021. LPL and its affiliated companies provide financial services only from the United States.

** Ranked No. 440 as of October 30, 2023

*Barron’s “Top 100 RIA Firms” ranking is based upon quantitative and qualitative criteria including: regulatory records, client retention reports, assets managed, revenue generated, technology spending, number of clients, size and diversity of staff, placement of a succession plan, and more. Investor experience and returns are not considered. Neither THE FIRM nor its financial advisors pay a fee to Barron’s in exchange for the ranking.