LPL Investment Holdings Inc. is a large independent broker-dealer. With headquarters in Boston, San Diego and Charlotte, N.C., the firm offers trading and operations, product and investment research, accounting, commissions processing, marketing, compliance, and advisory services.
LPL changed its name in 2008 from Linsco/Private Ledger, the company which was formed when the two firms (Linsco and Private Ledger) merged in 1989. Private-equity firms Hellman & Friedman LLC and Texas Pacific Group own a 60% stake in the firm.
In 2008, the company expanded its offerings for investment advisers by introducing a hybrid registered investment adviser platform system, which allows advisers to operate under their own advisory business and to hold assets outside LPL.