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LPL in the News: New Service, Plus Advisor and Executive Interviews

LPL Financial

Discover the new LPL Private Client Services Network, learn about new joins, and hear from LPL advisors and execs about industry and market trends.

One of the reasons I chose LPL is because they have a fantastic compliance department. I want to know I’m protected and have people looking out for my best interest so I can look out for my clients’ best interest.

- Judy VanArsdale, financial advisor, Lakeview Wealth Management

LPL in the News

Quickly glance through highlights of LPL Financial’s media coverage in June, from the launch of its new high-net-worth services to three LPL executives interviewed for their thoughts and insights.

LPL Financial Launches High-Net-Worth Services

LPL recently unveiled its LPL Private Client Services Network, which provides affiliated advisors with a variety of high-net-worth client services, including sales of businesses, hedging and monetizing concentrated stock positions, high-end property and casualty insurance, specialty lending, and more. ThinkAdvisor interviewed Patrick J. Herrington in an article about the new offering, and he said: “The new program … [creates] 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.”

LPL Advisor Discusses Advocacy in D.C.

Judy VanArsdale is chair of LPL’s Government Relations Council, a job she takes seriously. She and others on the council meet regularly with members of Congress and the Senate to ensure LPL and its advisors have a voice in Washington and can impact rules and regulations that the financial industry faces.

According to a ThinkAdvisor article, VanArsdale, an independent advisor and owner of Deer Park, Illinois-based Lakeview Wealth Management, has long been an advocate on Capitol Hill. She testified in front of the House Ways and Means Oversight Committee at a 2015 hearing on the Labor Department’s proposed fiduciary rule, and now she’s focused on boosting 401(k) catchup contributions within the Secure Act 2.0, which would also raise the required minimum distribution age from 72 to 75.

In the ThinkAdvisor article, VanArsdale is interviewed about current and past advocacy work, her path to becoming a financial advisor, her woman-owned business, and challenges facing the industry. And speaking of challenges, one of the biggest in her opinion is the regulatory environment, which is why she fights so hard to protect and preserve how advisors can service their clients.

“The regulatory environment is pretty challenging right now. There are a lot of rules,” said VanArsdale. “One of the reasons I chose LPL is because they have a fantastic compliance department. I want to know I’m protected and have people looking out for my best interest so I can look out for my clients’ best interest. I want a clear understanding of the rules so I can stay current and within the boundaries. There’s a lot going on right now.”

Two Advisor Teams Join LPL-Affiliated Firms

In June, Financial Advisor IQ reported that Glendale, California-based duo Ara Mekhitarian and Leonardo Aguilar have joined The Financial Services Network, a firm that supports LPL-affiliated advisors. The pair operate under the Encore Capital Management moniker.

Additionally, Adam Hutchinson and Robert Gibbs have joined Red Bank, New Jersey-based River’s Edge Wealth Partners, a firm supported by LPL Strategic Wealth Services, as also reported by Financial Advisor IQ last month.

“We love being part of a team of advisors at River’s Edge, where we can all collaborate and share ideas. We also appreciate LPL’s technology, compliance, marketing, and account resources, which frees up our time to spend with our clients — which is what we care most about,” said Gibbs.

LPL Execs Share Thoughts and Insights

LPL Financial executives are often sought after for commentary on industry and market trends. Following are a few key appearances in June: 

  • Forbes interviewed LPL Chief Economist Jeffrey Roach for a recent article about the economy and recession concerns. The article highlighted that many experts are warning that the economy is heading for a hard landing as the Fed tries to combat inflation. However, Roach offered a perspective that the economy is simply slowing rather than shrinking — and will therefore avoid a recession. Roach also forecasts a full-year GDP growth of 2.6%. For more information about this and other economic forecasts, read LPL Research's 2022 Mid-Year Outlook: Navigating Turbulence.

  • AdvisorHub featured Dayton Semerjian, LPL’s chief customer care officer, about how to scale exceptional service. In the article, Dayton shared how LPL is evolving to be more advisor-centric and how his team is coupling human support with technology. Regarding technology/human support, Semerjian had this to say:

    “With in-context content and help features throughout our technology tools, advisors can also find answers and valuable information without even needing to request help. That’s a critical aspect of the technology piece — preventing the need to call in the first place. When you do encounter an issue, we meet you when, where, and how you want. You’re busy, you’re working at home, in the office, on the road. Whether you prefer voice, chat, email, or social, we’re there, ready to respond. It’s ultimate flexibility.”

  • WealthManagement.com spoke to several industry leaders about how to guide investors through tumultuous markets. Robert Pettman, LPL’s executive vice president for wealth management solutions, said “When you’re in these types of choppy markets, investors can be emotional about their portfolios and make poor decisions. This is the prime time and opportunity for advisors to do what they do best.”

Looking for more updates, insights, and perspectives? Read more News and Insights or visit LPL Newsroom.


Disclosures

The views and opinions expressed by the LPL Financial Advisor(s) may not be representative of the views of other Financial Advisors and are not indicative of future performance or success. Neither LPL Financial nor the LPL Financial Advisor can be held responsible for any direct or incidental loss incurred by applying any of the information offered.

Lakeview Wealth Management, Rivers Edge Wealth Management, The Financial Services Network, Encore Capital Management and LPL Financial are separate entities.

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