Investor Presentaiton

6 Capital light business model with flexible allocation framework We see potential for consolidation given fragmented markets Addressable markets for advisor channel + Traditional Independent RIA Employee Channel $12T $3T $22T $7T Advisor-Oriented Highly fragmented markets create opportunity for additional consolidation + LPLA | -16% Large | -60% Medium -20% Small |~4% $3T ~90 firms LPLA ~15 firms Firm Size | Market Share by Assets | LPLA | ~3% Large | ~67% Medium 19% Small ~11% $7T ~17,600 firms LPLA ~1,200 firms LPL Market Share: ~3% ~35 firms ~2,800 firms ~13,600 firms ~40 firms Traditional Independent + RIA§ LPLA [ <1% Large | ~93% Medium | ~2% Small | ~5% $12T ~710 firms LPLA ~15 firms ~15 firms -680 firms Employee Channel # Growth potential from consolidation ■ Our scale, capabilities, and economics give us competitive advantages in M&A in independent markets and employee channels ■ ■ The independent markets are fragmented with consolidation opportunities Rising cost and complexity is making it harder for smaller players to compete ▪ We believe consolidation can drive value by adding scale, increasing our capacity to invest in capabilities, and creating shareholder value † Estimated market sizing based on 2021 Cerulli reports. See endnote 5 for additional detail. + Traditional Independent and Employee Channel sizing: Small (<$10B); Medium ($10B - <$50B); Large (>$50B) § RIA sizing: Small (<$250M); Medium ($250M - <$1B); Large (>$1B) LPL Financial Member FINRA/SIPC 28

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