LPL Financial Congratulates Kevin Fisher of Northwest Financial, Leo Iacobelli of ESL Investment Services and Mike Zito of Trustmark National Bank for Recognition as Top Program Managers by Bank Investment Consultant Magazine

BOSTON, May 20, 2011 /PRNewswire/ -- LPL Financial, the nation's largest independent broker-dealer* and wholly owned subsidiary of LPL Investment Holdings Inc. (NASDAQ: LPLA), today congratulated Kevin Fisher, Leo Iacobelli and Mike Zito for being named to the list of Top 20 Investment Program Managers in the country by Bank Investment Consultant magazine, a major industry publication.  The ranking recognizes managers whose advisors perform well above industry benchmarks.

In recognition of this award, the top 20 program managers have been profiled in the May issue of Bank Investment Consultant magazine and were honored during an exclusive awards ceremony held on May 17, 2011 in New York City.

Ranking details of the LPL Financial program managers, who were selected out of hundreds of submissions of top advisors throughout the nation, were as follows:

• Kevin Fisher, president and chief executive officer of Northwest Financial, (Herndon, VA) was named #2 out of 20

• Leo Iacobelli, president and chief operating officer of ESL Investment Services, LLC (Rochester, NY) was named #8 out of 20

• Mike Zito, President, Brokerage Services at Trustmark National Bank (Jackson, Mississippi) was named #17 out of 20

Dan Arnold, LPL Financial managing director and divisional president of the company's Institution Services business, said, "Over the years, we have built our Institution Services business into the largest third party provider of brokerage services to banks and credit unions across the nation.  Our success has been driven forward by the outstanding bank and credit union program managers and advisors we serve.  Kevin Fisher, Leo Iacobelli and Mike Zito are excellent examples for our entire industry, and we congratulate them both for having earned this well-deserved recognition of their effective leadership and ability to bring out the best in their teams."

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 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. For more information, please visit www.lpl.com.

Securities offered through LPL Financial, member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates.

*Based on total revenues, Financial Planning magazine, June 1996-2010

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SOURCE LPL Financial