Boston Mayor Shares Best Practices with LPL
More than 6,000 attendees convened in Boston for this year’s annual LPL Focus conference, a signature event in the financial services industry. LPL asked Boston Mayor Marty Walsh to share ways his administration has approached similar issues that the firm is addressing, including increasing diversity and inclusion and being accountable to stakeholders.
LPL: The City of Boston is focused on nurturing a more diverse and inclusive environment. We share that commitment with initiatives to increase diversity in our industry and enhance the resources and support available to our advisors to be able to best serve the increasingly diverse investor. What practices or programs have you implemented that might translate to a financial advisor, who is a business owner, to help him or her grow their business?
Mayor Walsh: Equity is not only essential to achieving a just society, but it’s also a strategic imperative for our economy. One of the priorities of this administration is to create a more equitable and inclusive City of Boston for all residents to participate and benefit from. We have expanded opportunities through our procurement standards, hiring practices, workforce development programs, and career pathways initiatives to open doors for more women, people of color and veterans.
LPL: With CityScore, you track your success across various initiatives that make up the health of the city by reporting daily key performance metrics. We are undergoing a culture change at LPL with the desire to make it easier for our advisors to do business with us. We’ve been actively seeking feedback while keeping our clients updated on our improvement progress. How has this approach to transparency and accountability been received by the community?
Mayor Walsh: We launched CityScore in 2016 in order to inform myself and city leaders how we were performing for Boston residents in real-time, but also what needs to be improved to keep Boston safer and smarter. By holding ourselves accountable publicly through this system, we‘ve gained more efficiency in delivering services and a more enjoyable customer experience for residents and businesses alike.
LPL: We enjoy this time of year when we are able to bring together our advisors, their families, product sponsors and our employees for several days of learning and networking. What role does LPL have in your city’s ecosystem and economic health when we convene in the city?
Mayor Walsh: We are proud LPL Financial can call the City of Boston home, and we are thrilled to once again host the annual Focus conference and welcome your employees, families and partners to our great city. LPL Financial is a significant organization and employer in Boston’s financial services industry, one of the city’s largest sectors in both employment and revenue. Boston benefits even more when an additional 6,000 visitors come to Boston and stay in our hotels, shop at our local retailers, eat at our small businesses and enjoy everything Boston has to offer.