Independence Wealth Advisors is an independent financial firm offering a full range of investment and financial services, including retirement planning, asset management, tax planning, long-term care, life insurance, and estate planning.

Independence Wealth Advisors

Modera Wealth Management provides fee-only wealth management services, helping clients simplify and manage their complex financial situations. The firm offers personalized financial planning and investment management.

Modera Wealth Management

LPL Financial Holdings Inc., together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes. The company also provides advisory platforms that provide access to mutual funds, exchange-traded funds, stocks, bonds, certain option strategies, unit investment trusts, and institutional money managers and no-load multi-manager variable annuities. In addition, it offers money market programs; and retirement solutions for commission-and fee-based services that allow advisors to provide brokerage services, consultation, and advice to retirement plan sponsors. Further, the company provides other services comprising tools and services that enable advisors to maintain and grow their practices; trust, investment management oversight, and custodial services to trusts for estates and families, as well as insurance brokerage general agency services; and technology products, such as proposal generation, investment analytics, and portfolio modeling. The company was formerly known as LPL Investment Holdings Inc. and changed its name to LPL Financial Holdings Inc. in June 2012. LPL Financial Holdings Inc. was founded in 1989 and is based in San Diego, California.

LPL Financial Holdings Inc.

National Association of Personal Financial Advisors is an organization that advocates for Fee-Only, fiduciary financial advisors and provides resources, education, and community support to its members. Self-described as a standard bearer for high professional and ethical standards.

Metric
Company Name	Independence Wealth Advisors	Modera Wealth Management	LPL Financial Holdings Inc.	National Association of Personal Financial Advisors
Symbol			LPLA
MSH ID	COM:IWADIRECT	COM:MODERAWEALTH	COM:LPL	ORG:NAPFA
Market	PRIVATE	PRIVATE	STOCKS	PRIVATE
Sector	Financial Services & Finance	Financial Services & Finance	Financial Services	Commercial & Professional Services
Industry	Investment Management	Wealth Management	Financial - Capital Markets	Financial Services
Country	US	US	US	US
Stage
Employee Count	1		8.72K
Website	iwadirect.com	moderawealth.com	lpl.com	napfa.org
LinkedIn
Founders

Metric
Market Cap			20.39B
Enterprise Value
Monthly Web Traffic
Web Traffic Growth
Valuation
Raised Capital

Metric
Revenue			10.05B
Revenue (LTM)
Revenue (NTM)
Gross Profit			3.68B
EBITDA			2.03B
Operating Income			1.68B
Net Income			1.07B
EPS			13.88
Diluted EPS			13.69
Revenue 2022
Revenue 2023
Revenue 2024
Revenue 2025
Revenue 2026

Metric
Revenue Growth (LTM)
Revenue Growth (NTM)
Gross Profit Growth (LTM)
EBITDA Growth (LTM)
Net Income Growth (LTM)
14-Day Growth Score
28-Day Growth Score
90-Day Growth Score
365-Day Growth Score

Metric
Gross Profit Margin			0.42
Operating Profit Margin			0.23
EBITDA Margin			0.20
Net Profit Margin			0.15
Return on Equity			0.50
Return on Assets			0.10
Return on Capital Employed			0.24

IWAD

COM:IWADIRECT

Independence Wealth Advisors

Company Overview

Market Metrics

Financial Performance

Growth Metrics

Profitability Ratios

Valuation Multiples

Operational Metrics

Cash Flow Metrics

Balance Sheet Metrics

Efficiency Metrics

Metric
P/E Ratio			16.27
P/B Ratio			9.09
Revenue Multiple (LTM)
Revenue Multiple (NTM)
EBITDA Multiple (LTM)
EBITDA Multiple (NTM)
Price to Sales Ratio			2.81
EV Multiple			9.67

Metric
Days Sales Outstanding			184.03
Days Payables Outstanding			219.89
Days Inventory Outstanding
Operating Cycle			147.23
Cash Conversion Cycle			127.79
Asset Turnover			0.95

Metric
Operating Cash Flow			512.61M
Free Cash Flow			109.33M
Cash Flow to Debt			0.30
Operating Cash Flow/Sales			0.13
Free Cash Flow Yield			-0.01

Metric
Cash & Equivalents			2.58B
Accounts Receivable			-28.07M
Inventory
Goodwill			1.86B
Debt to Capitalization			0.65
Debt to Assets			0.33
Current Ratio			1.85
Quick Ratio			9.35

Metric
Rule of 40 (LTM)
Rule of 40 (NTM)
Stock Comp to Revenue			0.01
R&D to Revenue
SG&A to Revenue			0.15