LPL Financial Recognized as Most Responsible by Newsweek for Third Year in a Row
CHARLOTTE, N.C., Dec. 21, 2022 (GLOBE NEWSWIRE) -- LPL Financial LLC today announced it has earned recognition from Newsweek as a Most Responsible Company in 2023, ranking among 500 of the U.S.’s largest public corporations. This is the third time the firm has been distinguished as one of America’s Most Responsible Companies.
“LPL has received this recognition for the past three years, which is aligned with our ongoing commitment to operating in a sustainable and responsible way,” said LPL President and CEO Dan Arnold. “As we move forward, we will continue to focus on operating with integrity, promoting an inclusive financial system for all, and taking care of our advisors so they can take care of their clients.”
Key to the LPL mission is the comprehensive support of financial advisors and institutions so they can help Americans build a better and more secure future. The firm’s approach to sustainability is guided by that mission, with an emphasis on operating responsibly and ethically. LPL’s Sustainability Report 2022 delves into the management approach, progress and key metrics for defined topics, as well as where the firm believes it can make the greatest contributions by utilizing its core strengths and competencies.
Approximately 2,000 publicly traded companies were reviewed for the Newsweek ranking, and only those that had published a corporate sustainability report were considered. A rigorous analysis of publicly available performance data in the environmental, social and corporate governance categories determined the winners. Responses to a survey of 11,000 U.S. citizens about their perceptions of the companies related to corporate social responsibility also played an influential role in producing the final ranking.*
About LPL Financial
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 more than 21,000 financial advisors, including advisors at approximately 1,100 institution-based investment programs and at approximately 500 registered investment advisor (“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.
*The selection of the companies and the definition of the evaluation criteria were carried out according to independent journalistic criteria of Newsweek and Statista. The evaluation was carried out by the statistics and market research company Statista. Newsweek and Statista make no claim to the completeness of the companies examined. The ranking is composed exclusively of U.S. companies that are eligible regarding the criteria described here. A position in the ranking is a positive recognition based on research of publicly available data sources at the time, the information provided in the validation survey and an extensive survey of U.S. residents. The ranking is the result of an elaborate process which, due to the interval of data-collection and analysis, is a reflection of official ESG data from 2020 or 2021. Furthermore, events following November 3, 2022 were not a subject of this survey. As such, the results of this ranking should not be used as the sole source of information for future deliberations. The information provided in this ranking should be considered in conjunction with other available information. The quality of companies that are not included in the ranking is not disputed. For a complete methodology see newsweek.com/amrc-2023
**Top RIA custodian (Cerulli Associates, 2020 U.S. RIA Marketplace Report). No. 1 Independent Broker-Dealer in the U.S. (Based on total revenues, Financial Planning magazine 1996-2022). Among third-party providers of brokerage services to banks and credit unions, No. 1 in AUM Growth from Financial Institutions; No. 1 in Market Share of AUM from Financial Institutions; No. 1 in Market Share of Revenue from Financial Institutions; No. 1 on Financial Institution Market Share; No. 1 on Share of Advisors (2021-2022 Kehrer Bielan Research & Consulting Annual TPM Report). Fortune 500 as of June 2021.
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