Investor Presentaiton
7
Opportunity to consolidate fragmented core markets through M&A
Our addressable markets are fragmented, with potential for
consolidation
Addressable markets(4)
Growth potential from consolidation
Traditional Markets (4)
Expanded Markets
(4)
~$3T
LPL: -16%
Rest of
Market:
-84%
~$1T
LPL: -16%
Rest of
~$5T
LPL: ~2%
~$4T
LPL: <1%
Rest of
Market:
-98%
Rest of
Market:
-99%
Market: ~84%
Traditional Independent Third-Party Financial
Institution
Advisory-oriented
Independent
Addressable Employee
Channels
•
•
•
Our scale, capabilities, and economics give us
competitive advantages in M&A
The traditional and advisory-oriented markets are
fragmented with consolidation opportunities
Rising cost and complexity is making it harder for smaller
players to compete
Therefore, we believe consolidation can drive value by
adding scale, increasing our capacity to invest in
capabilities, and creating shareholder value
LPL Financial Member FINRA/SIPC
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