The New Program Creates a Full-Service Offering for Advisors to Serve the Affluent Market
CHICAGO, June 15, 2022 (GLOBE NEWSWIRE) — LPL Financial LLC (Nasdaq: LPLA) today introduced the LPL Private Client Services Network, a new program offering LPL-affiliated advisors access to a carefully curated register of companies who can provide help to serve the sophisticated and complex needs of their high-net-worth clients. The new offering was introduced to advisors attending LPL’s annual Private Wealth Symposium taking place at the University of Chicago Booth School of Business from June 13 to 15.
Advisors using LPL’s Private Client offering will now be able to access vetted reputable companies to provide a personalized, full-service option to their clients. Access to the network can help with the sale of small and mid-sized businesses; hedging and monetizing concentrated stock positions; high-end property and casualty insurance; specialized tax services; and specialty lending.
“The new program is a distinguishing addition to our Private Client offering, creating a full-service option for advisors serving or seeking to serve affluent clients. With LPL’s Private Client Services Network, advisors have access to vetted providers, enabling a concierge-like experience that can help advisors grow value and deepen relationships with clients,” said Patrick J. Herrington, CFP®, CEP®, vice president, LPL Private Client.
From 2016 to 2021, LPL’s Private Client offering has enabled a more than 200% growth of assets associated with high-net-worth households, defined as households with greater than $5M in assets invested with their LPL advisor.
Advisors specializing in serving high-net-worth clients were invited to LPL’s Private Wealth Symposium, a two-and-a-half-day invitation-only event designed to provide attendees with valuable insights into the high-net-worth marketplace, and deliver technical content centered around the multidisciplinary nature of wealth management. Leaders in the financial industry and world-class academics from the esteemed University of Chicago Booth School of Business presented topics ranging from the economy to inflation to sophisticated planning techniques.
About LPL Financial
LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader in the markets we serve,** supporting over 20,000 financial advisors, and approximately 800 institution-based investment programs and approximately 500 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.
**Top RIA custodian (Cerulli Associates, 2020 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S. (Based on total revenues, Financial Planning magazine 1996-2021); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 Company as of June 2021. LPL and its affiliated companies provide financial services only from the United States.
Securities and advisory services offered through LPL Financial LLC, an SEC-registered broker-dealer and investment advisor. Member FINRA/SIPC.
Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial LLC. We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.
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