Investor Presentaiton

6 Capital light business model with flexible allocation framework We're delivering new liquidity and succession capabilities for advisors seeking to transition Background: Solving a need in the marketplace ■ ~1/3 of advisors are expected to retire or leave the industry over the next decade - representing $8.5T of AUM+ Historically, advisors' options were limited: Sell to a larger aggregator that may pay an enhanced price, but take control from the advisor • Transact with a local advisor, but often at a below-market price Our response: New Liquidity & Succession solutions New LPL capability to buy practices from advisors seeking a pathway to retirement, looking to free themselves from entrepreneurial burdens, and/ or looking for monetization Economics - Allows advisor to monetize their business through a market-competitive transaction ✓ Support – Empowers advisors through a fully dedicated support model, allowing advisors to rededicate their time and energy to client service ✓ Transition – Transitions ownership of the business to successor advisors over time " Direct acquisition lifecycle example Advisor looking to sunset over 2-5 years Practice in slower-growth mode; risk of sale away from LPL LPL buys advisor's practice Advisor onboarded to Linsco channel LPL oversees the practice LPL supports advisor with industry-leading capabilities and a transition glidepath to succeeding advisor Practice positioned for improved growth within LPL LPL supports the transition to a succeeding advisor LPL trains and fosters the succeeding advisor – positioning them to run a great practice, leveraging the best of LPL ■ Succeeding advisor(s) assume(s) oversight of practice, with ~10-year path to full control of asset Succeeding advisor completes purchase of practice ☐ LPL support of practice extended for ~20 years Building foothold in marketplace with strong initial returns " ■ ■ - Enhancing strategic value – by training successor advisors, deepening the connection with LPL - and reorienting the practice towards growth To date, we have completed 12 deals, with 6 additional expected to close in Q2 2023 Good use of capital - purchase multiples consistent with our M&A framework ~6-8x EBITDA ■ Based on closed transactions and our pipeline, average deal size of ~$10-20M t 2020 Cerulli Report U.S. Advisor Metrics LPL Financial Member FINRA/SIPC 30 Cycle continues

View entire presentation