Broker Check

Strategic Partners

Gallagher Pool Wealth Management is proud to be partnered with LPL Financial. LPL Financial serves as Gallagher Pool Wealth Management's broker dealer. The broker dealer is extremely important to the complex business operations and compliance aspects of a wealth management practice. LPL Financial is a national independent broker dealer specializing in equity, investment advisory and risk management products and support services.

History

LPL Financial was formed in 1989 through the merger of two small brokerage firms. Linsco & Private Ledger (founded in 1968 and 1973, respectively).

By merging these two companies, the founders of LPL sought to create a trusted alternative to Wall Street firms, one in which financial advisors could build highly competitive businesses while always doing what is right for their clients. Today, we are the largest independent broker/dealer in the country* supporting more than 16,000 financial advisors.

In 2005, LPL sold a 60% ownership stake to two private equity partners, Hellman & Friedman LLC and Texas Pacific Group, both strongly committed to maintaining the independence of the firm. In November 2010, the parent company of LPL, LPL Financial Holdings Inc., first became publicly traded on NASDAQ under symbol LPLA.

Client Account Protection

LPL is a member of the Securities Investor Protection Corporation (SIPC). Membership provides protection for client accounts up to $500,000, of which $250,000 may be claims for cash, in the unlikely event that LPL were to fail financially. (For an explanatory brochure, visit www.sipc.org.)

Moreover, LPL accounts have additional securities protection to cover the net equity of client accounts up to an overall aggregate firm limit of $575,000,000, subject to conditions and limitations.

This coverage is underwritten by London Insurers through the Lloyds of London syndicates. Account protection applies when a SIPC member firm fails financially and is unable to meet its obligations to securities clients, but it does not protect against losses from the rise and fall in the market value of investments.

This extensive coverage reflects a strong commitment to serving your investment needs. As always, our focus remains on our advisors and financial institutions and their clients and on helping you meet your financial needs and goals.

Financial performance and liquidity position

As a Financial Industry Regulatory Authority (FINRA) member firm subject to the federal securities laws and the rules of industry self-regulatory organizations, LPL has always carried out our obligations to protect client assets in our custody with the utmost care and scrupulous adherence to financial protection rules, including those governing the segregation of advisor assets.

Counter-Party Risk Assessment

Our Governance, Risk, and Compliance department routinely reviews our counter-party risk as well as those LPL does business with to limit our exposure to risk.

The team monitors all outstanding debits and credits and the firms that clear those trades to ensure they are healthy and do not pose a risk to LPL or our advisors’ clients.

This process includes extensive research, due diligence, financial analysis, and forward-looking measures of financial strength and sustainability.

Not FDIC/NCUA Insured

Not Bank/Credit Union Guaranteed

May Lose Value

Not Guaranteed by any Government Agency

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