LPL Investment Holdings Inc. Announces Pricing of Secondary Offering by Certain Selling Stockholders

BOSTON, April 26, 2011 /PRNewswire/ -- LPL Investment Holdings Inc., (NASDAQ: LPLA) today announced that it has priced its secondary offering of 6,212,724 shares of its common stock by certain minority stockholders at a price to the public of $34.85 per share.  The Company itself is not selling any shares in this offering.  Subject to customary conditions, the offering is expected to close on or about May 2, 2011.  Goldman, Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley and BofA Merrill Lynch are acting as joint book-running managers for the offering.  Sanford C. Bernstein, Citi, Keefe, Bruyette & Woods, Lazard Capital Markets, Macquarie Capital, Sandler O'Neill + Partners, L.P. and UBS Investment Bank are acting as co-managers.

The shares will be issued pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. LPL has also filed with the Securities and Exchange Commission a preliminary prospectus with respect to this offering.  This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering may be obtained from:

Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected]; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866-803-9204; Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, New York, NY 10014, telephone: 1-866-718-1649 or email [email protected]; or BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department or email [email protected].

About LPL Financial

LPL Financial, a wholly owned subsidiary of LPL Investment Holdings Inc., is an independent broker-dealer. LPL Financial and its affiliates offer proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to over 12,500 financial advisors and over 750 financial institutions. Additionally, LPL Financial supports approximately 4,000 financial advisors who are affiliated and licensed with insurance companies with customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have over 2,600 employees with employees and offices in Boston, Charlotte, and San Diego.

LPLA-C

SOURCE LPL Investment Holdings Inc.

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