LPLA vs HUBB Comparison

LPL Financial is the largest US independent broker/dealer, with more than 32,000 financial advisors, roughly 11 million customer accounts, and roughly $2.4 trillion in client assets under management or advisory affiliated with its platform at the end of 2025. The firm earns the bulk of its profit from interest income earned on client cash balances and from advisory fees, commissions, and asset-based fees. LPL specializes in providing turnkey wealth management services for affiliated independent advisors, but maintains a diverse array of affiliation modalities, running the gamut from more traditional employee models to a pure RIA custody approach. It earns tuck-in revenue from recordkeeping fees and the provision of software tools and services to its advisor base.

Founded in 1888 by Harvey Hubbell, the eponymous company was the conduit through which the pull-chain lamp socket was originally sold. Hubbell has since grown into an electricity transmission and distribution behemoth, housing more than 75 brands that sell components found on power lines, in electrical substations, and in commercial and industrial buildings. The company's primary operations are in the United States, where around 90% of revenue is derived.