Our broker dealer, LPL Financial, is a member firm of the Securities Investor Protection Corporation (SIPC). Membership provides account protection up to a maximum of $500,000 per client, of which $250,000 may be claims for cash. For an explanatory brochure, please visit www.sipc.org . Additionally, through London Insurers, LPL Financial accounts have additional securities protection to cover the net equity of client accounts up to an overall aggregate firm limit of $600,000,000, subject to conditions and limitations. The account protection applies when a SIPC member firm fails financially and is unable to meet its obligations to securities clients, but it does not protect against losses from the rise and fall in the market value of investments. This extensive coverage reflects a strong commitment to serving your investment needs.
The events of the past few days have many people asking questions about the health of the financial services companies they entrust with their money and investments. And to the extent that you may have similar questions, we want to provide some important information regarding the resilience of LPL Financial’s business model, our financial stability and liquidity position, the steps we take to help protect client accounts, how we are regulated, and our approach to enterprise risk management.
Read LPL Financial CFO Matt Audette’s full letter here.