09:02 AM

LPL Financial Charitable Foundation Donates Largest Single Scholarship in CSUSM History

$10,000 scholarship benefits business major and Veteran Mario ClayCalifornia State University San Marcos (CSUSM) announced today that junior business major and Marine Corps veteran Mario Clay is the recipient of a $10,000 scholarship donated by LPL Financial Charitable Foundation, the charitable arm of LPL Financial LLC, the nation’s largest independent broker-dealer* and a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA). For the 2012/13 academic year, the LPL Financial Charitable Foundation donated a total of $32,000 to five College of Business Administration (CoBA) students ranging from $3,000 to $10,000. Clay’s award is the single largest scholarship granted to any student in CSUSM’s 22-year history.Creating OpportunitiesThe Foundation’s scholarship gifts are ensuring that deserving students have access to the transformational power of a college degree. Students may use the awarded funds to pay for tuition, purchase books or educational equipment, or cover living expenses.“This scholarship is a big deal to me, as it goes well beyond being a monetary donation,” said Clay. “It reaffirms the belief I have that hard work pays off, and that persistence pays in many ways.”Clay’s five-year service as an electrical equipment repair specialist in the Marines included two tours of duty in Iraq. After he was honorably discharged, he decided to pursue higher education, becoming the first person in his family to attend college. While attending a career training institute and then community college, Clay juggled attending classes and studying with a night job and volunteering. Particularly passionate about helping fellow veterans, he served as a class military liaison, vice president of the Veterans Club and veteran peer advisor, assisting former military personnel as they transitioned into life as a student. Fueling PotentialSince 2010, LPL Financial has awarded $81,000 in scholarships to 17 Cal State San Marcos students. Recipients must be a junior or senior and enrolled as a business major with a 3.25 cumulative grade-point average.“As a firm we are dedicated to helping individuals find the right path in order to achieve their aspirations in life,” commented Robert Moore, LPL Financial’s president and chief operating officer who also served in the scholarship selection process. “The LPL Financial Charitable Foundation is pleased to offer scholarships to these bright and talented students.”“[This] scholarship motivates me to finish what I started and it gives me hope,” noted Clay. “LPL Financial is highly regarded for awarding such impactful scholarships. Their outreach is an indication of the type of organization they are, [as well as] their level of commitment to their community.”About California State University San MarcosCalifornia State University San Marcos combines the ambiance of a mid-sized, personal, modern campus with the unequaled value of the California State University. Since its founding in 1989, the campus has distinguished itself. Students benefit from the latest facilities and equipment, a superb faculty that enjoys teaching, and a rigorous academic program that prepares students for a successful life in and out of the workplace. A recent survey reported that our annual spending in the region was $161 million, generating a total impact of $307 million on the regional economy. 85 percent of CSUSM’s alumni stay in the region. CSU San Marcos is located on a 304-acre hillside overlooking the city of San Marcos. It is 15 miles east of the ocean; just 30 miles north of downtown San Diego.About LPL FinancialLPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine, June 1996-2012), a top RIA custodian, and a leading independent consultant to retirement plans.  LPL Financial offers proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to over 12,900 financial advisors and approximately 680 financial institutions. In addition, LPL Financial supports over 4,400 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have approximately 2,700 employees with headquarters in Boston, Charlotte, and San Diego.  For more information, please visit www.lpl.com.Securities offered through LPL Financial.  Member FINRA/SIPC*Based on total revenues, Financial Planning magazine, June 1996-2012