LPL Financial Launches Retirement Plus Program to Expand Support and Services for Financial Advisors in Retirement Plan Space
Boston, MA - September 1, 2009 - LPL Financial Corporation ("LPL Financial"), the nation's largest independent broker-dealer, today announced the launch of its new Retirement Plus Program as part of the company's ongoing expansion of servicing and support for retirement plan-focused financial advisors.
The new program, offered through the company's recently-formed Retirement Plan Consulting Group, will support the ability of financial advisors to work with companies to enable their employees to invest and plan for their retirements through employer-sponsored and other types of retirement plans.
Record keeping and plan administration as well as access to multiple fund families will be provided under the Retirement Plus Program through CPI Qualified Plan Consultants, Guardian Retirement Services, ING and The Principal Financial Group. Specially selected by LPL Financial following extensive research, internal review and requests for proposals from a broad spectrum of product sponsors, these companies will provide a diversified array of best-in-class retirement products while working closely with LPL Financial advisors to provide an enhanced level of training and marketing support.
At the same time, the Retirement Plan Consulting Group at LPL Financial will provide advisors with additional tools, training and technical support to successfully serve their clients in this space, and broaden their overall business.
Bruce Harrington, Senior Vice President of Retirement Solutions at LPL Financial, said, "We are delighted to introduce our Retirement Plus Program, which represents a bold step forward in the expansion of our support and services for independent financial advisors involved in the retirement plan space. This is an area that we believe has significant growth potential for our advisors and our company, based on multiple demographic, industry and regulatory trends. We are committed to providing our advisors with the tools and training they need to capitalize on these trends as experts and leaders in this space."
John Moninger, Senior Vice President and head of Advisory and Brokerage Consulting at LPL Financial, said, "Equally important, this new program reinforces our company's longstanding commitment to provide comprehensive services to support virtually any business model that a financial advisor can choose today. We look forward to working closely with our advisors and the product sponsors in our Retirement Plus program to make this new initiative a strong success."
Currently, LPL Financial has approximately $12 billion in group retirement plan assets.
About LPL Financial:
LPL Financial is one of the nation's leading financial services companies and largest independent broker/dealer (based on total revenues as reported in Financial Planning magazine, June 1996-2009). Headquartered in Boston, Charlotte, and San Diego, LPL Financial and its affiliates offer industry-leading technology, training, service, and unbiased research to 12,489 financial advisors, 768 financial institutions, and over 4,000 institutional clearing and technology subscribers. LPL Financial has $259 billion in brokerage and advisory assets as of June 30, 2009.
LPL Financial and its approximately 2,500 employees serve financial advisors through Independent Advisor Services, supporting financial advisors at all career stages; Institution Services, focusing on the needs of advisors and program managers in banks and credit unions; and Custom Clearing Services, working with broker/dealers at leading financial services companies. For additional information about LPL Financial, visit www.lpl.com.