LPL Investment Holdings Inc. Announces Additional $75 Million Share Repurchase Program

BOSTON, May 29, 2012 /PRNewswire/ -- LPL Investment Holdings Inc., (NASDAQ: LPLA) (the "Company"), parent company of LPL Financial LLC ("LPL Financial"), today announced that its board of directors has authorized the Company to repurchase up to an additional $75 million of its issued and outstanding shares of common stock. This authorization is in addition to the approximately $15.1 million remaining under the Company's existing share repurchase program.

The stock repurchases under this program may be made through open market or privately negotiated transactions, with the timing of purchases and the amount of stock purchased generally determined at the discretion of the Company's management. 

Forward-Looking Statements

Statements in this press release regarding future share repurchases constitute forward-looking statements. Forward-looking statements are not guarantees of future performance and should not be regarded as a representation by the Company with regard to the size or timing of share repurchases pursuant to the announced repurchase program.  The size and timing of actual repurchases may differ significantly from the performance expressed or implied in the forward-looking statements. Important factors that may cause such differences include, but are not limited to, the price and availability of shares of the Company's common stock, trading volumes, corporate or regulatory considerations including the Company's right to discontinue repurchases at any time, general market and economic conditions and other factors set forth in the Company's Annual Report on Form 10-K for the period ended December 31, 2011 and its Quarterly Report on Form 10-Q for the period ended March 31, 2012, which are available on www.lpl.com and www.sec.gov.

About LPL Financial

LPL Financial, a wholly owned subsidiary of LPL Investment Holdings Inc. (NASDAQ: LPLA), is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine, June 1996-2011), a top RIA custodian, and a leading independent consultant to retirement plans.  LPL Financial offers proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to over 12,900 financial advisors and approximately 680 financial institutions. In addition, LPL Financial supports over 4,400 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have approximately 2,700 employees with headquarters in Boston, Charlotte, and San Diego.  For more information, please visit www.lpl.com.           

LPLA-C

SOURCE LPL Investment Holdings Inc.