LPLA vs TALKW Comparison

LPL Financial is the largest US independent broker-dealer, with nearly 29,000 financial advisors affiliated with its platform and roughly 10 million associated customer accounts at the end of 2024. The firm earns the bulk of its profit from interest income earned on client cash balances and from advisory fees and commissions tied to the $1.7 trillion in assets under management or advisory on its platform at year-end 2024. LPL specializes in the provision of 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.

Talkspace Inc is a behavioral healthcare company offering access to licensed therapists, psychologists, and psychiatrists through its technology platform. It serves clients including health plans, enterprises, and individual subscribers. Therapists address various mental health conditions, while psychiatrists cater to a higher acuity demographic. Revenue stems from payor and direct-to-enterprise clients, with contracts lasting one to three years. The majority of the Company's operations and revenues are based in the United States.