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LPL Financial Welcomes Southwest Advisory Group to Linsco Channel

1. LPL Financial gains $300 million assets with new advisors joining. 2. Schulte and Short prioritize independence and client relationships at Linsco by LPL. 3. LPL supports nearly 29,000 advisors, enhancing growth potential. 4. Southwest Advisory Group focuses on holistic financial services integration. 5. LPL's flexible approach helps advisors optimize and grow their practices.

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Why Bullish?

The addition of assets and focus on advisor independence may enhance LPLA's market position. Previous similar partnerships have led to increased client retention and asset growth.

How important is it?

The new partnership suggests strategic growth and operational efficiency, likely impacting LPLA positively.

Why Long Term?

The establishment of Southwest Advisory Group indicates sustained growth potential for LPLA. Over time, this could contribute positively to LPLA’s overall asset management capacity.

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LPLAAMP
February 12, 2025 08:55 ET  | Source: LPL Financial Holdings, Inc. SAN DIEGO, Feb. 12, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq: LPLA) announced today that financial advisors Steve Schulte, CFP®, MBA, and Melissa Toler Short have joined LPL’s employee advisor channel, Linsco by LPL Financial, to launch Southwest Advisory Group. They reported serving approximately $300 million in advisory, brokerage and retirement plan assets* and join LPL from Ameriprise. Based in Yuma, Ariz., Schulte has provided financial guidance and wealth management for 25 years following an initial career in agriculture. Short transitioned from the hospitality industry to financial services in 2006. The advisors met at their local Rotary Club, striking up a friendship and eventual partnership, recognizing their skillsets, values and vision for their practice complemented each other. They are known for their collaborative approach, working closely with CPA firms and attorneys to provide holistic services that address each client’s entire financial situation. The team also includes client service associates Rhonda Kirk and Maren Green. As they considered what’s best for the future of their growing practice, the advisors turned to Linsco by LPL. The move marked a return to LPL for Schulte, who was previously with the firm from 2010 to 2014. Why they made the move to Linsco by LPL Linsco serves financial advisors seeking the core tenets of independence, including owning their client relationships and having flexibility to run their practice their way. With Linsco, advisors have access to LPL’s integrated wealth management platform and robust business resources, along with support from an experienced branch management team, dedicated marketing consultant and other resources that allow advisors to focus on their clients. “Our move to LPL is a strategic decision that aligns with our desire for greater independence and autonomy,” said Schulte. “LPL’s commitment to advisor support and its absence of corporate influence and proprietary products make it the ideal partner as we seek new ways to elevate our practice and create differentiated experiences for clients.” Short added, “LPL is the right fit because they are focused on taking care of advisors, allowing us to optimize our practice and run it how we see fit. LPL’s leadership understands the relationship between advisor and clients is key, and they offer ample tools and resources to enhance that relationship. With Linsco, especially, we can turn over day-to-day management of operational tasks and concentrate on what we want to do most: help our clients and grow our business.” Both Schulte and Short are deeply involved in their community, with long-term memberships in Rotary International and the Yuma Elk Lodge. They emphasize the importance of community service and giving back. Scott Posner, LPL Executive Vice President, Business Development, said, “We welcome Steve and Melissa to the Linsco community and congratulate them on the launch of Southwest Advisory Group. At LPL, we are committed to creating a differentiated and compelling experience for both advisors and their clients. We do that by offering unprecedented flexibility, strategic resources and innovative technology designed to help advisors deliver great advice and run thriving practices. We are excited to expand our Linsco footprint in Arizona and look forward to a long-lasting relationship with the entire team at Southwest Advisory Group.” Related Advisors, learn how LPL Financial can help take your business to the next level. 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 nearly 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.7 trillion in brokerage and advisory assets on behalf of approximately 6 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 (LPL), a registered investment advisor and broker dealer, member FINRA/SIPC. 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. We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website. *Value approximated as reported to LPL Media Contact: Media.relations@LPLFinancial.com (704) 996-1840 Tracking #688901

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