LPL Financial is ramping up its capacity to grow and support advisors with a new home office.
The firm announced Tuesday that it has set up a new office in Tempe, Arizona, as part of its effort to expand its presence in key financial hubs across the US.
The wealth management firm said its new 43,000-square-foot facility, located in the Marina Heights complex, will serve as a base for 300 employees by the end of 2024, with potential for further growth in the coming years. The company also expects the new office will help spark growth in the community, adding another 700 financial services jobs to the local economy within two years.
The Tempe office will focus on supporting LPL's client service and operations teams.
Sara Dadyar, managing director and chief human resources officer, highlighted the strategic importance of the location.
“Tempe was a logical choice for our home office expansion, providing access to highly qualified professionals who share our client-centric approach to service and innovation,” she said in a statement Tuesday.
Arizona has been a hotspot for major advisor moves at LPL in the past few years, including an elite former Merrill advisor that joined in May and an $800 million Lincoln team that switched over in September last year, a few months before Osaic announced its plans to acquire Lincoln's wealth unit.
LPL Financial, a Fortune 500 company with a workforce of 8,500, currently supports over 23,000 financial advisors nationwide. These advisors operate across approximately 1,000 institutions and 580 registered investment advisor firms, serving the needs of more than 4.5 million clients.
“As one of the fastest growing firms in wealth management, LPL is investing in regions that are respected for cultivating and retaining top talent in our industry,” Dadyar added.
The new office in Tempe, alongside existing offices in San Diego and Fort Mill, South Carolina, is part of LPL’s broader strategy to expand its talent base and improve its employee experience.
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“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
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