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LPL Financial Makes It Easier for Large Firms, Institutions and RIAs to Run Models-Based Practices

Written by Customer Service on . Posted in Public Companies.

CHARLOTTE, N.C., June 23, 2021 (GLOBE NEWSWIRE) — LPL Financial LLC (Nasdaq: LPLA) today announced that the firm’s proprietary investment management solution, Firm Sleeve, has surpassed $3.4 billion in assets, demonstrating the value of a personalized investment management solution. Built within LPL’s centrally managed Model Wealth Portfolios (MWP) platform, Firm Sleeve delivers scalable, digital and flexible solutions for large firms, registered investment advisors (RIAs) and institutions. The solution gives them the ability to differentiate their investment management offering to attract advisors and serve clients, while reducing the amount of time spent on investment management.

“As LPL’s newest advisory capability, Firm Sleeve is rapidly transforming the way that large firms, RIAs and institutions work,” said Rob Pettman, LPL Financial executive vice president, Wealth Management Solutions. “The solution’s growth represents a significant milestone in our efforts to elevate client services and is indicative of our success in streamlining money management practices to make it easier for our advisors to operate their practices. With Firm Sleeve, firms, RIAs and institutions can now confidently advise their investors at scale, re-imagining traditional service offerings with convenience, control and customization.”

Launched in early 2021, Firm Sleeve offers large firms, RIAs and institutions a new way of doing advisory business. The platform allows them to create and share centralized investment models with their advisors, saving internal resources and managing risk during periods of high market volatility. They can also outsource the investment implementation to LPL’s Overlay Management team, so they can focus on managing investment strategies and helping their advisors construct robust portfolio strategies for their clients. Additionally, it gives firms, RIAs and institutions the ability to incorporate their own brand within the platform, helping to increase an advisor’s connection to their firm’s mission and values for investing.

Firm Sleeve follows the success of one of LPL’s most popular solutions, Advisor Sleeve, which was launched broadly to LPL advisors in April 2019. Advisor Sleeve gives LPL advisors the ability to create and manage their own models, while outsourcing the trading and operations components. Advisor Sleeve reached $5.0 billion in assets as of May 31, 2021.

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 more than 18,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to objective 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, 2019 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S (Based on total revenues, Financial Planning magazine June 1996-2020); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report; Fortune 500 as of June 2021)

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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Media Contact:
Lauren Hoyt-Williams
(980) 321-1232
Lauren.Hoyt-Williams@lplfinancial.com

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