The LPL Government Relations team represents the largest independent broker/dealer in the United States*, supporting more than 21,000 financial professionals and 1,100 financial institutions. We believe that all Americans should have the ability to receive financial advice and are committed to ensuring access to resources that give everyone the capability to save for their future.
Our team works to build and strengthen relationships with federal and state legislators and regulators, so that we can serve as a ready resource for policymakers on questions related to our business. We proactively seek opportunities to help government leaders understand the value of personalized financial advice, allowing us to explain how LPL provides the tools and services necessary for our financial professionals to take care of their clients.
LPL is focused on the following policy initiatives:
Ensuring the Success of a Harmonized Best Interest Standard of Care that Ensures Affordable Access to Financial Guidance and Advice
Continuing our work with federal and state decision makers, LPL will reinforce the value of a harmonized best interest standard to ensure that investors maintain access to all available financial services.
Read LPL’s Position Statement
ADVOCATING FOR THOUGHTFUL POLICIES TO PROMOTE SENIOR INVESTOR PROTECTION
LPL is committed to identifying and advancing solutions to protect senior and vulnerable adult investors from exploitation and fraudulent practices. We will collaborate with policymakers and industry partners at the federal and state level through advocacy and thought leadership to promote and support laws and regulation that will enhance protection of senior and vulnerable adult investors.Read LPL’s Position Statement
PRESERVING AND ENHANCING INCENTIVES FOR RETIREMENT SAVINGS
We will engage with Congress to advocate for the preservation and enhancement of incentives for retirement savings. Tax incentives are a critical motivator both for the individual investor and employers who want to offer retirement savings plans.
Read LPL’s Position Statement on Enhancing Retirement Security in the United States
Protecting our Independent Contractor Model
We will continue our discussions with policymakers on tax policies impacting our industry that include, but are not limited to, the pass-through deduction and protection of the independent contractor status for financial professionals.
Read LPL’s Position Statement
PROMOTING THOUGHTFUL DATA SECURITY AND PRIVACY LEGISLATION
Building on our work in 2019, we will continue to engage with federal and state leaders on data privacy protection, anti-money laundering rules, cybersecurity, and legislation relating to the Consolidated Audit Trail (CAT). Read LPL’s Position Statement
Promoting Increased Opportunities for Diversity, Equity and Inclusion among Financial Professionals and Institutions
LPL will maintain our work with advisors, Congressional leaders and trade organizations to ensure that our employees and leadership are representative of the diverse population of clients that our financial professionals serve.Read LPL’s Position Statement
* As reported by Financial Planning magazine, June 1996-2021, based on total revenue