LPL Financial welcomes Anchor Financial Partners. "We wanted the independence to serve clients the way we believe is best, supported by a platform with the scale and capabilities to help us keep building." - Brandon Porter Last Edited by: LPL Financial Last Updated: October 29, 2026 SAN DIEGO - October 29, 2026 - LPL Financial LLC announced today that the financial advisors of Anchor Financial Partners have joined LPL Financial's broker-dealer and Registered Investment Advisor (RIA) platforms. The team reported serving approximately $525 million in advisory, brokerage and retirement plan assets* and joins LPL from Northwestern Mutual. Based outside of Atlanta in Vinings, Ga., Anchor Financial Partners is led by Frank Conner, ChFC(R), CLU(R), RICP(R)**, CASL(R)***, Andrew Runnion, Josh Eisenberg, CFP(R), Brandon Porter, CFP(R), AEP(R), Kyle Brooker, CFP(R), and Trey Beavers. The team works with affluent and high net worth individuals and families both pre- and post-retirement, business owners, and others with specialized wealth services, tax strategies and estate planning needs. Anchor Financial Partners was formed to provide comprehensive guidance that extends beyond investments. The firm combines disciplined investment services with retirement planning, risk management, business continuation, legacy planning and wealth transfer considerations. The firm's name reflects the team's mission of helping clients stay anchored through changing markets, major life events and the complexities of long-term financial decision-making. "Our approach is very relationship focused," Eisenberg. "We may be working with business owners or executives, but ultimately we are working with people and their families. We want to understand what is important to them, why it is important and how we can come alongside them to help pursue those goals. That means looking beyond pie charts and dollars and cents and keeping the focus on the life they want their wealth to support." The practice operates as one integrated team rather than separate individual books of business. While each client has a lead advisor, the partners share responsibility for client relationships and regularly draw on one another's specialties. Anchor Financial Partners has also invested in developing the next generation of advisors, with an emphasis on continuity, succession planning and long-term relationships that can extend across generations. "Our work starts with people, not portfolios," added Runnion. "We've intentionally built a collaborative team where we can bring different perspectives and areas of expertise to the table. That gives our clients access to the strength of the entire firm and creates continuity as their needs evolve." Why Anchor Financial Partners chose LPL. Anchor Financial Partners selected LPL for its independence, open architecture and ability to support the firm's vision for growth. The team sought a platform that would allow it to serve clients with greater flexibility while providing the infrastructure and resources to expand organically and welcome experienced financial advisors who are preparing for retirement and seeking a thoughtful succession solution. "We wanted the independence to serve clients the way we believe is best, supported by a platform with the scale and capabilities to help us keep building," said Porter. "LPL stood out during our due diligence for both its open architecture and the strength behind the platform. It gives us the flexibility to deepen the client experience, pursue organic growth and provide a home for advisors who want confidence that their clients will continue to be well served as they transition into retirement." "Anchor Financial Partners has built a distinctive culture around collaboration, continuity and a genuine commitment to placing people at the center of financial planning," said Marc Cohen, chief growth officer at LPL Financial. "The partners bring complementary expertise to a shared client experience, helping families and business owners navigate important decisions while intentionally preparing the next generation of advisors to carry those relationships forward. We are honored to welcome Anchor Financial Partners to LPL and look forward to supporting the team as it grows its impact, advances its succession vision and continues serving clients with the personal guidance that defines the firm." Anchor Financial Partners is guided by the core values of integrity, simplicity and fun. The firm also maintains a philanthropy committee that regularly reviews community organizations and nonprofit initiatives and supports people experiencing homelessness and the team's annual involvement with Street Grace. About LPL Financial. LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.6 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com. Securities and advisory services offered through LPL Financial LLC ("LPL Financial"), a registered investment advisor and broker-dealer, member FINRA/SIPC. Anchor Financial Partners and LPL Financial are separate entities. Throughout this communication, the terms "financial advisors" and "advisors" are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial. LPL Financial, LLC routinely disclose information that may be important to shareholders in the "Investor Relations" or "Press Releases" section of its website. *Value approximated based on asset and holding details provided to LPL from end of year, 2025. ** RICP conferred by The American College. *** CASL conferred by The American College.

LPL Financial (NASDAQ:LPLA) shares gap down following analyst downgrade. LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) gapped down before the market opened on Wednesday after Wells Fargo & Company lowered their price target on the stock from $362.00 to $350.00. The stock had previously closed at $317.56, but opened at $294.17. Wells Fargo & Company currently has an overweight rating on the stock. LPL Financial shares last traded at $278.73, with a volume of 440,282 shares trading hands. A number of other research firms have also issued reports on LPLA. BMO Capital Markets lowered their target price on LPL Financial from $390.00 to $370.00 and set an "outperform" rating on the stock in a report on Tuesday, October 6th. Morgan Stanley upped their price target on shares of LPL Financial from $387.00 to $393.00 and gave the company an "overweight" rating in a report on Friday, October 9th. Citigroup restated a "market outperform" rating on shares of LPL Financial in a research report on Monday, October 5th. TD Cowen lifted their price objective on shares of LPL Financial from $377.00 to $380.00 and gave the stock a "hold" rating in a research note on Monday, October 12th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $400.00 target price on shares of LPL Financial in a report on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $406.44. Insider buying and selling. In other news, Director Aneri Jambusaria sold 308 shares of the company's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $357.36, for a total transaction of $110,066.88. Following the completion of the sale, the director directly owned 6,107 shares of the company's stock, valued at $2,182,397.52. This represents a 4.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Gates sold 4,119 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $355.38, for a total value of $1,463,810.22. Following the completion of the transaction, the director owned 23,602 shares of the company's stock, valued at $8,387,678.76. This trade represents a 14.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 5,867 shares of company stock valued at $2,079,664. 0.60% of the stock is owned by insiders. Key stories impacting LPL Financial. Here are the key news stories impacting LPL Financial this week: * Strong Q3 earnings and business growth: LPL reported adjusted EPS of $5.97, exceeding the $5.69 consensus estimate, while revenue rose 17.4% year over year to $5.34 billion, broadly in line with expectations. Net income reached $357 million, compared with a loss of $30 million in the prior-year quarter. * Client assets and capital returns increased: Total client assets grew 11% to $2.6 trillion, advisory assets climbed 16% to $1.6 trillion, and organic net new assets totaled approximately $29.1 billion. LPL also repurchased about $301 million of stock and declared a quarterly dividend of $0.30 per share. * Commonwealth integration remains on track: Management expects to complete the Commonwealth Financial Network conversion in the fourth quarter of 2026, with estimated run-rate EBITDA of $415 million. * Analyst views remain mixed: The average reported price target is $409.69, implying substantial potential upside, but Truist lowered its target from $354 to $335 and downgraded its rating to "hold." * Recruiting momentum weakened: Recruited assets fell 26% year over year to $24 billion, although trailing-12-month recruited assets remained $81 billion. Management also lowered expected Commonwealth asset retention to approximately 83%, which may be contributing to investor caution. Institutional inflows and outflows. A number of institutional investors and hedge funds have recently added to or reduced their stakes in LPLA. North Dakota State Investment Board raised its holdings in shares of LPL Financial by 3.5% during the third quarter. North Dakota State Investment Board now owns 2,452 shares of the financial services provider's stock worth $750,000 after acquiring an additional 83 shares during the period. Asset Management One Co. Ltd. boosted its stake in LPL Financial by 1.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 30,498 shares of the financial services provider's stock worth $9,326,000 after purchasing an additional 319 shares during the period. Segment Wealth Management LLC boosted its stake in LPL Financial by 15.3% in the 3rd quarter. Segment Wealth Management LLC now owns 11,528 shares of the financial services provider's stock worth $3,525,000 after purchasing an additional 1,533 shares during the period. Signaturefd LLC increased its holdings in LPL Financial by 10.6% during the 3rd quarter. Signaturefd LLC now owns 1,422 shares of the financial services provider's stock worth $435,000 after purchasing an additional 136 shares in the last quarter. Finally, Citizens Financial Group Inc. RI bought a new position in LPL Financial during the 3rd quarter worth about $318,000. 95.66% of the stock is owned by hedge funds and other institutional investors. LPL Financial stock performance. The stock has a fifty day simple moving average of $335.24 and a 200-day simple moving average of $324.30. The stock has a market cap of $21.67 billion, a P/E ratio of 22.17 and a beta of 0.53. LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $5.97 earnings per share for the quarter, topping analysts' consensus estimates of $5.69 by $0.28. The firm had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.35 billion. The company's revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company earned $5.20 EPS. On average, research analysts anticipate that LPL Financial Holdings Inc. will post 23.83 earnings per share for the current year. LPL Financial dividend announcement. The firm also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Thursday, November 12th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, November 12th. LPL Financial's payout ratio is 9.57%. About LPL Financial. LPL Financial Holdings Inc is a financial services company that supports independent financial advisors and institutions across the United States. Through its primary subsidiary, LPL Financial LLC, the company provides brokerage, investment advisory, and custodial services, enabling advisors to serve individual investors, families, retirement plans, and other clients. LPL's platform includes access to brokerage and advisory products, securities clearing and custody, trading and operations support, technology, compliance services, investment research, and practice-management resources. Receive News & Ratings for LPL Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial and related companies with MarketBeat.com's FREE daily email newsletter.

LPL annuity commissions climb in first full quarter with outside BGA. Carriers expect independent broker-dealers to be the fastest-growing annuity channel over the next three years Oct 28, 2026 LPL Financial's 32,597 advisors produced $748.5 million in annuity commissions in the third quarter. It was the first full quarter since the wealth manager named an outside brokerage general agency (BGA) as its preferred insurance partner, although LPL's earnings release did not refer to the arrangement. Annuity commissions rose 5% year over year and 3% from the second quarter's $727.7 million, making up the largest share of LPL's $1.25 billion in commission revenue. Sales-based annuity commissions climbed 7% from a year earlier to $469.4 million, up from $444.8 million in Q2, and trailing annuity commissions grew 1% to $279.1 million. Simplicity takes over as preferred agency. Simplicity Group, based in Summit, New Jersey, became LPL's preferred BGA on May 1, giving advisors access to its technology, insurance resources and service for clients seeking protection solutions. Under the same agreement, LPL is transitioning its in-house LPL Insurance Associates business to Simplicity. Other insurance distributors that work with advisors have also reorganized this year. In April, Specialty Program Group folded AgencyONE, Brokers' Service Marketing Group and Business Underwriters Associates into SPG Life & Annuity, a single national platform with about $1 billion in annuity premium. Independent broker-dealers carry weight in annuity sales. Independent broker-dealers such as LPL are a major outlet for market-linked annuities. LIMRA reported that the channel accounted for more than half of registered annuity sales, which include traditional variable annuities and registered index-linked annuities, in the third quarter of 2025. Insurers expect the channel to keep growing. In a Goldman Sachs Asset Management survey of 103 people at 28 US carriers, 47% named independent broker-dealers as the channel likely to grow most over the next three years, up from 38% a year earlier. Goldman said the rise could be down to more flexible advisor economics, wider access to AI and technology tools, and advisors' demand for fiduciary independence. Fee-based accounts gain ground at LPL. Advisory assets rose 16% to $1.6 trillion and now account for 60.9% of LPL's $2.6 trillion in client assets, up from 58.2% a year ago. Total client assets grew 11%. Brokerage accounts posted net outflows of $4.0 billion and advisory accounts took in $33.1 billion. Both figures count $7.4 billion of net brokerage-to-advisory conversions, and sales-based mutual fund commissions fell 11%. LIMRA has said fee-based annuities, supported by improved technology platforms, have doubled in sales since 2020 and are drawing more interest from registered investment advisors. Rule changes and carrier mergers. In March, two Texas federal courts vacated the Labor Department's 2024 Retirement Security Rule, and the department restored the 1975 five-part test for fiduciary status. Regulation Best Interest still applies, along with best-interest standards for annuity sales that all 50 states have adopted. Carrier consolidation is also under way. Corebridge Financial and Equitable Holdings agreed to an all-stock merger valued at about $22 billion, which is expected to close by the end of 2026, and the combined company will operate under the Equitable name. LPL's quarter in figures. LPL Financial reported net income of $357 million, or $4.52 per diluted share, down from $379 million, or $4.74, in Q2. A year earlier it lost $30 million, or $0.37 per share, in a quarter carrying $538.2 million in acquisition costs, including $419 million at the closing of the Commonwealth Financial Network deal. Acquisition costs fell to $83.1 million. Revenue grew 17% to $5.34 billion from $4.55 billion, gross profit rose 12% to $1.66 billion, and core general and administrative (G&A) expenses increased 11% to $532 million. Adjusted earnings per share rose 15% to $5.97, and adjusted pre-tax income grew 13% to $641 million. The advisor payout rate was 87.98%. Organic net new assets were $29 billion, equal to 5% annualized growth, though the independent RIA platform had $1.4 billion in net outflows. Recruited assets fell 26% to $24 billion, or $81 billion over 12 months, and net new advisors totaled 122, compared with 331 in Q2. Client cash held at $57 billion, $1 billion higher than a year earlier, or 2.2% of client assets compared with 2.4%. LPL expects to complete the Commonwealth conversion in Q4, with asset retention of about 83% and run-rate EBITDA of $415 million. The company spent about $20 million on three Liquidity & Succession deals and narrowed its 2026 core G&A outlook, which includes Commonwealth expenses, to $2,140 million-$2,160 million. It has also incurred costs to integrate its strategic relationship with Prudential Advisors and began rolling out Cyan, a proprietary AI agent, to advisors. LPL repurchased $301 million of shares, paid $24 million in dividends and ended the quarter with $563 million in corporate cash and a 1.93x leverage ratio. A $0.30 dividend is payable November 30 to stockholders of record as of November 12. The firm supports the wealth management practices of about 1,100 financial institutions and services roughly $2.6 trillion in assets for about 8 million Americans.