Common Broker-Dealer Disclosures

Independent Advisors – Independent Advisor Services (IAS)

§ LPL Financial as business name: LPL Financial, Member FINRA/SIPC

§ DBA as business name: Securities offered through LPL Financial, Member FINRA/SIPC

Advisory Services

§ When referencing advisory services or products made available through LPL Financial:

Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC

* Please note LPL Investment Advisor Representatives (IARs) may choose to use the advisory services disclosure above as a standard disclosure on all materials.

Institution Service Advisors (IS)

§ Bank

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC).  Insurance products are offered through LPL or its licensed affiliates. [Bank name and DBA name] are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using [DBA name], and may also be employees of [bank name].  These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, [bank name] or [DBA name].  Securities and insurance offered through LPL or its affiliates are:

Not Insured by FDIC or Any Other Government Agency | Not Bank Guaranteed | Not Bank Deposits or Obligations | May Lose Value

§ Credit Union

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC).  Insurance products are offered through LPL or its licensed affiliates. [Credit Union name and DBA name] are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using [DBA name], and may also be employees of [credit union name].  These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, [credit union name] or [DBA name].  Securities and insurance offered through LPL or its affiliates are:

Not Insured by NCUA or Any Other Government Agency | Not Credit Union Guaranteed | Not Credit Union Deposits or Obligations | May Lose Value

* Please note: The first sentence should be bold and 'are not' in 3rd sentence should be underlined and bold.  The 4-point portion of the disclosure must be boxed and set in bold face type. This is the preferred method, however, in the event that the media does not accommodate boxing of the disclosures, it may appear with an alternate form of distinction such as line separators or bullets.

Hybrid Advisors

§ Hybrid Registered Investment Advisors (RIAs)

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through [insert hybrid RIA firm name], a registered investment advisor and separate entity from LPL Financial.

§ Hybrid RIAs with a “Doing Business As” (DBA) name for LPL Securities Business

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through [insert hybrid RIA firm name], a registered investment advisor. [Insert Hybrid RIA firm name] and [insert DBA name] are separate entities from LPL Financial.

* Important Information – State Disclosure Requirements

Actual disclosure requirements may vary based on various factors including, but not limited to, your registration status and state of registration.

Many states have specific disclosure requirements and may require modification to the disclosures shown above.

For more information, please reference:

Advisor Compliance Manual | Communications with the Public | State-Specific Requirements