“When I think of Advisor Sleeve, the word that comes to mind is leverage,” says John Shrewsbury of GenWealth Financial Advisors. “Advisor Sleeve allows us to leverage the expertise of LPL Research and other strategists, the LPL trading team and technology, so we can operate more efficiently to better serve our clients and expand our capacity. There’s only so much time in a day, and if advisors can leverage what LPL has to offer so we can free up more time, it means we’ll have more opportunity to do more business.”
Shrewsbury was an early adopter of Advisor Sleeve, which LPL began rolling out to advisors in spring of this year. The new investment solution makes it easier for an advisor to build, track and manage advisory portfolio models. It allows advisors retain control over clients’ portfolio investment mix without the time-consuming tasks of rebalancing and trading.
The advisors at GenWealth Financial Advisors had already been using LPL’s Model Wealth Portfolios (MWP) platform to support their planning-based approach, with the benefit of being able to outsource investment research. Yet Shrewsbury found that the control that comes with Advisor Sleeve takes the platform to a new level, hitting the mark for his firm and its need for a custom retirement income model. Given its capabilities, GenWealth now intends to use Advisor Sleeve for other models as well, with the intention of customizing a fixed-income exchange-traded fund portfolio for clients while also using MWP’s strategist models. “We can easily leverage these models and make our adjustments, which gives us a lot more flexibility without sacrificing time or client service.”
Shrewsbury thinks they’ve yet to tap Advisor Sleeve’s full potential. “The further we get into Advisor Sleeve and see its functionality, the more the imagination begins to develop ideas about what we can do with this,” he said.
And he’s eager for the continuing evolution of LPL’s advisory solutions, ultimately providing a wealth management platform that will change the way he runs his business. “Right now, we have as many as three or four different accounts for one client registration type, because of our bucketed approach and need for multiple investment objectives. As the advisory platform evolves further, we’ll be able to house all of those different accounts in one account. We’re excited for the flexibility, the reduced processing, and the ease of use for clients.”
Model Wealth Portfolios (MWP) are centrally managed fee-based portfolios constructed by LPL Financial Research. Investment choices include mutual funds and exchanged-traded products (ETPs). The portfolios benefit from ongoing monitoring, rebalancing, and tax management services implemented by the LPL Financial Overlay Portfolio Management Group.
The views and opinions expressed by the LPL Financial Advisor are as of the date of the publication. These views 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.
GenWealth Financial Advisors and LPL Financial are separate entities.
There is no assurance that the Advisory platforms discussed are suitable for all investors or will yield positive outcomes. The purchase of certain securities will be required to effect some of the strategies. Investing involves risks including possible loss of principal.
An investment in Exchange Traded Product (ETPs), structured as a mutual fund, note, or unit investment trust should be considered as part of an overall program, not a complete investment program. An investment in ETPs involves risks such as: market, non diversification, price volatility, liquidity, competitive industry pressure, international political and economic developments, possible trading halts, index tracking error.