LPL Financial Foundation Awards Over $1 Million to Support Enhancing Diversity in Wealth Management

The LPL Financial Charitable Foundation, (the “LPL Financial Foundation” or “Foundation”), 

LPL Financial

’s philanthropic arm, today announced its 2024-2025 grant recipients who will receive a combined total of more than $1 million. Over the last four years, the LPL Financial Foundation has contributed more than $2.5 million to organizations aligned with its mission of enriching diversity in the next generation of financial professionals.

The organizations selected are American College of Financial Services, CFP (Certified Financial Planner) Board, Girls Who Invest and Greenwood Project. The grants will go to support scholarships, internships, career counseling and mentorship aimed at shaping a more inclusive and accessible future within the financial services industry.

“In trust-based professions such as financial services, people often seek advice from those with similar lived experiences,” said LPL Financial Foundation President Melissa Buchanan. “But currently the wealth management industry does not reflect the changing demographics of the United States.”

“Our goal is to empower thousands of early-career individuals from under-resourced communities to pursue careers in financial services by 2030,” said Buchanan. “Relationships like these amplify the potential of the next generation of financial professionals through life-changing scholarships, real-world internships and specialized training.”

The Foundation is proud to support the American College of Financial Services for a fourth year with scholarships, alumni professional development and career services. Additionally, this is the third year the Foundation has supported Girls Who Invest—an organization working to increase gender diversity and inclusion in investment management.

The LPL Financial Foundation is also expanding its impact with two new grant recipients. Support for the CFP Board will focus on increasing the diversity of the CFP population through awareness, access and scholarships, and the grant for Greenwood Project will create pathways designed for Black and Latino college students to succeed in high-trajectory financial services careers.

About LPL Financial and the LPL Financial Charitable Foundation

LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that the firm should work for advisors and institutions, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 23,000 financial advisors, including advisors at approximately 1,000 institutions and at approximately 580 registered investment advisor 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 institution 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 institutions, so they can take care of their clients.

At the LPL Financial Charitable Foundation, an independent 501(c)(3) non-profit organization, our mission is to cultivate a diverse and inclusive pipeline of future financial professionals. We align with innovative, industry-leading organizations to empower underrepresented communities through education, mentorship and career opportunities in financial services.

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