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CFP
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CFP

Michael Maclean

LPL Financial LLC
18 Years of Experience
Worcester, MA
4 DisclosuresBroker
View SEC Summary
View SEC Summary

Michael Maclean is a CFP-designated registered investment advisor at LPL Financial LLC, based in Worcester, MA, with 18 years of industry experience. Michael is also registered as a broker, so some compensation may come from commissions on products sold. Their practice areas include Investment Management, Retirement Planning. Their firm serves 1,986,990 clients with $820B in assets under management.

LPL Financial LLC
Compensation
Fee-Only (% of Portfolio)Fixed/Hourly
Firm Size
28221 advisors
Number of Clients
1,986,990 clients
Average Client Portfolio
$412K average
Assets Under Management
$819.1B

Fee Structure

Minimum Investment:$1K
Investment management only (planning not offered)
Portfolio-Based Fees (Flat)
Portfolio ValueAnnual Fee
Any2.50%

The maximum account fee is 2.50% and is negotiable between the client and the advisor. Fees are based on total assets in the account and payable quarterly in advance.

Fee Estimator
Your Portfolio Value
$500K
$0$500K$1M$5M$20M
Estimated Annual Fee
—
View Full SEC Brochure

Location

1 Mercantile St., Ste 530, Worcester, MA, 01608

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History

Regulatory History (4)
What are disclosures? Advisors must report customer complaints, regulatory actions, and certain legal or financial events to the SEC. Not all disclosures are serious—many are settled disputes or minor violations. Learn how to evaluate them.
Regulatory
April 2024
Final
Regulatory
November 2023
Final
Regulatory
April 2021
Final
Employment Separation After Allegations
January 2021
View Full SEC ReportHow to Read Disclosures
Other Business Activities

Michael operates Mercantile Private Wealth Management as a DBA for his LPL business, dedicating minimal time. He also serves as a board member for Paxton Little League, a non-profit organization, spending minimal time.

Employment History
Current Registrations
LPL Financial LLCBroker
May 2025 - Present · 1 yr 5 mos
LPL Financial LLC
May 2025 - Present · 1 yr 5 mos
Previous Registrations
Grove Point Advisors, LLC
April 2021 - May 2025 · 4 yrs 1 mo
Grove Point Investments, LLCBroker
April 2021 - May 2025 · 4 yrs 1 mo
Voya Financial Advisors, INC.Broker
January 2021 - April 2021 · 3 mos
Morgan Stanley
May 2020 - January 2021 · 8 mos
Morgan Stanley
February 2012 - December 2012 · 10 mos
Morgan StanleyBroker
June 2009 - January 2021 · 11 yrs 7 mos
Citigroup Global Markets INC.Broker
January 2008 - June 2009 · 1 yr 5 mos
State Registrations15 states
AZCTGAILMAMONCNJNYOHPARISCTXVA
AdvisorBrokerBoth

You can work with an advisor not registered in your state. Most advisors can legally serve a small number of clients across state lines without registering.

Exams
No exam information available for this advisor.
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