Financial services firm LPL Financial is adding a fourth building to its Charlotte operation, as the Boston-based company continues its growth in the region.
The company said it has signed a lease for space in 5275 Parkway Plaza Blvd. in southwest Charlotte. LPL plans to eventually leave that building and three others also in southwest Charlotte when it relocates to a new campus in Fort Mill in late 2016.
LPL announced the relocation plans last year. The plans call for it to move about 1,200 employees from the four buildings in Charlotte and consolidate them in Kingsley Park development, off Interstate 77 across from Baxter Village.
The company broke ground last month on the new Fort Mill home, where it says it will eventually grow to 3,000 employees. LPL is receiving an incentives package from South Carolina to relocate from North Carolina, including $2 million to help prepare its site in Fort Mill.
LPL was formed in 1989 with the merger of two small brokerage firms, Linsco and Private Ledger. Its parent company is publicly traded independent brokerage LPL Financial Holdings.
Charlotte, with 1,200 employees, is the firm’s second-largest employment hub. The biggest is San Diego, with 1,600. In Boston, the firm employs 130. It has 400 employees scattered elsewhere in the U.S.
The three buildings the company currently occupies in Charlotte are at 5260 Parkway Plaza Blvd., 4828 Parkway Plaza Blvd. and 2810 Coliseum Centre Drive.
The addition of the fourth building underscores the company’s focus on expanding in Charlotte, LPL spokesman Peter Gilchrist said. Across the four buildings in Charlotte, the company leases a combined 325,000 square feet of space.
The Charlotte region, Gilchrist said, is the company’s “growth area.” The company is adding the fourth building as it outgrows space in its three existing buildings, he said.
“As the company grows, we’ve really decided to make the Carolinas, and Fort Mill in particular, kind of our area where we’re really going to grow the business,” he said.
Last week, the company announced the hiring of a new chief investment strategist and chief wealth officer. The hire, Tim Knepp, will be based in Charlotte. He is leaving California-based Savos Investments to take the LPL job and will relocate from California.