With the expansion of our Private Client offering, LPL is able to deliver even more resources and tools that can create greater opportunities for our advisors to provide the service and support critical to working effectively with this unique client segment.- Matt Enyedi, LPL executive vice president, RIA and High-Net-Worth Solutions
Firm Announces Additional Offering at its Annual Private Wealth Symposium
SAN DIEGO – May 3, 2016 – Leading retail investment advisory firm and independent broker/dealer LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), announced today at its annual Private Wealth Symposium that the firm is further expanding the resources it provides to advisors and institutions for supporting high-net-worth (HNW) clients. The new Private Client Curriculum Series offers educational content and practice management resources that build upon the LPL Private Client offering, which offers dedicated support and resources to help LPL advisors and institutions market to, win and retain HNW individuals and institutional clients.
LPL's Private Wealth Symposium, held from May 2 to 4, is tailored to advisors working in the HNW market. Approximately 180 advisors attended the conference, which features discussions about practice management and investment topics specific to this client segment. HNW is defined by LPL as those clients with $5 million or more of investable assets. LPL has grown its HNW offering over the last several years, with $27 billion in assets currently in HNW accounts, up from $20 billion at the end of 2013.
LPL launched its Private Client offering last year, providing support and resources to advisors who want to expand their service offering in the HNW market. Private Client offers advisors multidisciplinary consulting services, access to specialized performance reporting technology, research tailored to the HNW marketplace and practice management resources. The offering is distinctive in the marketplace because it is available to all of LPL’s advisors, regardless of how many high net worth clients they support or their business model. Private Client consulting services are also available at no additional cost to advisors who custody assets at LPL.
The Private Client Curriculum Series is comprised of events, tools and training that address topics relevant to serving HNW clients. It includes workshops, a monthly conference call series hosted by thought leaders from financial education providers, a library of white papers tailored to LPL advisors, training with asset management partners and the opportunity to pursue professional designations that increase skill and improve an advisor’s brand to the HNW client.
“Serving high-net-worth clients can be more complex, as it requires an understanding of advanced planning aspects of wealth management and an ability to meet increased service expectations,” said Matt Enyedi, LPL executive vice president, RIA and High-Net-Worth Solutions. “With the expansion of our Private Client offering, LPL is able to deliver even more resources and tools that can create greater opportunities for our advisors to provide the service and support critical to working effectively with this unique client segment.”
Also announced at the conference was the development of an advisory group that will provide input to create a more focused discussion on the needs of HNW support at LPL, with the goal that the firm can provide the most impactful resources to help advisors manage and grow their businesses.
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the retail financial advice market and served $479 billion in advisory and brokerage assets as of March 31, 2016. LPL is one of the fastest growing RIA custodians and is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine June 1996-2015). The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 independent financial advisors and over 700 banks and credit unions, enabling them to help their clients turn life's aspirations into financial realities. Advisors associated with LPL also service an estimated 45,000 retirement plans with an estimated $121 billion in retirement plan assets, as of March 31, 2016. LPL also supports more than 4,200 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have more than 3,400 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.
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