CHARLOTTE, N.C. – December 18, 2023 – Independent Advisor Alliance (IAA) today announced that LPL Financial has taken a minority stake in its firm.
LPL’s investment will support IAA as it continues advancing its services and tools, creating an even more supportive ecosystem for its network of financial advisors. This includes IAA’s partnership program, where it invests capital in its partner firms, ensuring they have the resources needed for sustainable growth and success.
IAA carefully considered several options before selecting LPL, with a key criterion being an investor who shares a mutual and long-standing commitment to fostering innovation and enhancing services for financial advisors.
“Ultimately, it came down to what was in the best interest of our advisors. It’s a win-win for advisors when their RIA and broker dealer are aligned,” said Robert Russo, CEO and Founder of IAA. “Our partner firms know we’re in it for the long haul. They have clarity and security in their future, combined with the best support and services in the industry.”
One of the key highlights of this partnership is that IAA will maintain complete control and ownership of its management and operations, ensuring continuity and stability for its employees and its existing partners and advisors.
“Since its inception, IAA has been dedicated to providing robust support and innovative programs that empower financial advisors to be successful independent business owners,” said Jeremy Holly, Executive Vice President, Business Strategy & Growth at LPL Financial. “Like LPL, IAA’s focus is on advisors and helping them to grow their businesses. We are proud to partner with IAA as they build upon their success.”
Russo added, “This is a significant development in our growth journey. We’re excited about this new chapter and the benefits it provides for advisors who choose to partner with us.”
Founded in 2013 in Charlotte, NC, Independent Advisor Alliance (IAA) is a leading hybrid firm strategically focused on empowering financial advisors to succeed as independent business owners by providing services that align with each advisor’s unique needs and challenges. IAA supports its partner firms with customized support services, resources, and programs designed to optimize efficiencies, reduce expenses, retain and attract clients, assist with succession planning, boost revenue, and more. For more information, visit www.independentadvisoralliance.com.
About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that LPL should work for advisors and enterprises, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 22,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 560 registered investment advisor (“RIA”) firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and enterprise leaders have the freedom they deserve to choose the business model, services, and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships because they know their clients best. Simply put, we take care of our advisors and enterprises so they can take care of their clients.
Securities and Advisory services are offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States.
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.