TSCO vs LPLA Comparison

Tractor Supply is the largest operator of retail farm and ranch stores in the United States. The company targets recreational farmers and ranchers and has little exposure to commercial and industrial farm operations. Currently, the company operates 2,335 of its namesake banners in 49 states, along with 207 Petsense by Tractor Supply stores. Stores are generally concentrated in rural communities rather than urban and suburban areas. In fiscal 2024, revenue consisted primarily of livestock, equine & agriculture (26%), companion animal (25%), and seasonal & recreation (23%).

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.