LPL Financial, a retail investment advisory firm and independent broker/dealer, has opened a new office in Washington, D.C. to support its industry advocacy initiatives.
The new location is for members of the company’s government relations team who engage with legislators, regulators and trade associations to advocate issues on behalf of the financial services industry, LPL advisors and retail investors.
LPL general counsel and managing director of legal and government relations David Bergers said: "The work of our Government Relations team is one important way LPL demonstrates its commitment to ensuring all Americans have access to independent financial advice.
"As a leader in our industry, LPL has a responsibility to ensure the voices of our advisors and investors are heard and to advocate for policies that support the best interests of investors. We are excited to strengthen our commitment to this important effort by establishing a physical presence in D.C. and further empowering our team in their essential work."
The firm said that the new establishment will support better collaboration across the team’s diverse functions as well as create efficiencies that will improve their efforts on behalf of the firm and the industry.
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings, offers proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to over 14,000 independent financial advisors and over 700 banks and credit unions. As of 30 April 2016, the firm managed $482bn in advisory and brokerage assets.