Investor Presentaiton

3 Vertical integration We provide a range of services to advisors, strengthening their business while enhancing our returns We have seen a favorable mix shift in our platforms Gross Profit* ROA Centrally Services Group ~40-45 bps Subscribers Key points Brokerage: Asset growth is driven by Enterprises, where asset mix is primarily brokerage ■ Advisory: Assets are shifting from brokerage to advisory, as end-clients seek greater levels of support from advisors +-5 bps Managed (8) ~35-40 bps bps 15% of advisory up -40% YOY • Brokerage (6) ~15-20 bps +-10 bps Advisory(7) ~25-30 bps (higher ROA when using Corporate platform) AUM mix 53% (up 8% since 2017) +-5 bps Strategic Wealth & Independent Employee ~30-35 bps +~5 AUM mix 47% (down 8% since 2017) assets (up 3% since 2017) Services Provided to Advisors Prior to enterprises, we are shifting towards advisory at ~2%+ per year • ~75% of new client flows are in advisory New Models: Strategic Wealth & Independent Employee models increase support for advisors and expand our addressable market ■ Centrally Managed: Platforms can create additional value within advisory Outsourcing portfolio design and management can free up advisors' time to serve clients and grow their practices Services Group: Support advisors through an expanded set of offerings and a subscription model LPL Financial Member FINRA/SIPC 17

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