SAN DIEGO – May 14, 2020 – LPL Financial LLC, a leading retail investment advisory firm, RIA custodian and independent broker-dealer, today announced that the firm’s Advisor Sleeve assets have surpassed $2 billion, less than a year after the investment solution was broadly launched to LPL advisors. Built on LPL’s centrally managed Model Wealth Portfolios (MWP) platform, the solution is designed to help advisors gain scale and efficiency with the ability to outsource operational functions associated with managing custom models.
“It is remarkable that we hit this milestone in the midst of global disruption. It shows the value LPL advisors have to their clients, by helping them manage risk and provide ongoing advice that helps them stay focused on their goals,” said Rob Pettman, LPL Financial executive vice president, Product and Platform Management.
Advisor Sleeve enables advisors to act as strategists while outsourcing daily operational tasks such as model management, trading, and rebalancing to LPL. Leveraging the risk scoring methodology from AdvisoryWorld, advisors can use Advisor Sleeve to build models tailored to specific investment objectives and actively monitor portfolio allocations to help ensure risk exposure remains aligned with investor preferences. In March, LPL expanded the number of models advisors can create from 10 to 15 models, providing additional flexibility in response to recent market disruption.
“Centrally managed platforms are resonating with advisory practices because of the efficiencies they deliver. As part of MWP, Advisor Sleeve, in particular, is a compelling solution because it affords both customization and ease. Advisors are finding value in being able to deliver their unique portfolio designs in a way that is scalable and simple,” said Pettman.
About LPL Financial
LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker-dealer*. We serve independent financial advisors, professionals, and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.
Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC
AdvisoryWorld is a wholly owned subsidiary of LPL Financial LLC.
Model Wealth Portfolios (MWP) are centrally managed fee-based portfolios constructed by LPL Financial Research. Investment choices include mutual funds and exchange-traded products (ETPs). The porfolios benefit from ongoing monitoring, rebalancing, and tax management services implemented by the LPL Financial Overlay Portfolio Management Group.
*Based on total revenues, Financial Planning magazine June 1996-2019