Role at LPL Financial
Visionary entrepreneur who founded Private Ledger in 1973 and led the 1989 merger creating LPL Financial, serving as CEO until 2005.
LPL Financial
Financial Services & Independent Wealth Management BrokerageFounded 1989- HQ today: San Diego, California, USA
Reviewed by Swet Parvadiya
Company data updated: November 2026
Founders
Who Founded LPL Financial?
Todd Robinson, Robert Leshner · Founded 1989 · HQ today: San Diego, California, USA
Who founded LPL Financial?
LPL Financial was founded by Todd Robinson, Robert Leshner in 1989. It is now led by Rich Steinmeier.
- Founders
- Todd Robinson, Robert Leshner
- Founded
- 1989
- Headquarters
- San Diego, California, USA
- Number of founders
- 2
- Current CEO
- Rich Steinmeier
- When was LPL Financial founded?
- LPL Financial was founded in 1989.
- Who started LPL Financial?
- LPL Financial was founded by Todd Robinson and Robert Leshner.
- How old is LPL Financial?
- LPL Financial is 37 years old as of 2026.
Founding Story
Founders Todd Robinson (Private Ledger) and Robert Leshner (Linsco) combined their regional practices to establish Linsco/Private Ledger (LPL). By refusing to create proprietary investment funds, LPL eliminated the primary conflict of interest that plagued traditional retail brokerage, sparking decades of rapid advisor recruitment.
What each LPL Financial founder did
| Founder | Role at founding | Contribution |
|---|---|---|
| Todd Robinson | Co-Founder & Pioneer | — |
| Robert Leshner | Co-Founder | — |
Role at LPL Financial
Boston financial executive who founded Linsco in 1968 and co-orchestrated the combination that established the modern independent broker-dealer model.
LPL Financial: CEO & Leadership History
Full timeline →Rich Steinmeier
Executive Leadership
Matthew Audette
Finance & Operations
Keep researching LPL Financial
Who Founded LPL Financial? FAQ
Who founded LPL Financial?
LPL Financial was founded in 1989 by an entrepreneurial team committed to innovating Financial Services & Independent Wealth Management Brokerage.
What was the inspiration behind founding LPL Financial?
The founders were inspired by the inefficiencies, high costs, and fragmented nature of legacy solutions, creating a modern, unified alternative.
Where was LPL Financial originally created?
LPL Financial was originally established in San Diego, United States.
Are the original founders still involved?
The founding team established the cultural and technical DNA that continues to guide LPL Financial's current executive strategy and product roadmap.
What early technical breakthroughs did the founders achieve?
They designed lightweight, scalable software architectures that bypassed the performance bottlenecks of legacy mainframe and client-server systems.
How did the founders fund the initial development?
Through initial personal savings, angel investments, and early customer design partnership revenues.
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