LPL Earns Spot Among CIO 100 For Second Year In A Row
Leading retail investment advisory firm and independent broker/dealer LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today announced that the firm has been selected as an honoree for the 29th annual IDG’s CIO 100 Awards, honoring companies that exemplify the highest level of operational and strategic excellence in information technology (IT).
--Firm Receives Award for Streamlined Order Entry Solution--
--Solution Delivered Efficiencies and Improved Service Experience for Advisors, Investors--
CHARLOTTE, N.C. – Aug. 1, 2016 – Leading retail investment advisory firm and independent broker/dealer LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today announced that the firm has been selected as an honoree for the 29th annual IDG’s CIO 100 Awards, honoring companies that exemplify the highest level of operational and strategic excellence in information technology (IT).
LPL has been recognized for its innovative work in the development of an industry-first Alternative Investment (AI) Order Entry solution, supporting the end-to-end purchase of a broad range of AI products. The solution makes submitting AI orders easier, ensures proper compliance practices and eases the operational burden on back-office teams. The streamlined process ensures that documents are in good order before they are sent to clients for signatures. As a result of the improved platform, advisors experienced an 80% reduction of not in good order rates (NIGOs) compared to the previous manual process, thereby increasing the efficiency of operating their businesses and creating a better experience for their clients.
“LPL’s technology team is honored to once again be a recipient of the CIO 100 Awards,” said Victor Fetter, managing director and chief information officer, LPL Financial. “We are committed to continuous improvement of the technology solutions and support we provide to our clients, understanding that by putting the power of technology to work for our advisors, they are able grow their businesses and provide quality service to their clients.”
"Delivering innovation and business value are top priorities for CIOs everywhere, and our CIO 100 awards program celebrates the leading IT organizations that excel at both," said Maryfran Johnson, editor in chief of CIO Events. "Our 2016 winners are raising the bar even higher this year with their outstanding work in digital transformation, customer focus and IT-business collaboration."
CIO is an esteemed content and community resource for information technology executives and leaders thriving and prospering in this fast-paced era of IT transformation in the enterprise. The award-winning CIO portfolio—CIO.com, CIO executive programs, CIO Strategic Marketing Services, CIO Forum on LinkedIn, CIO Executive Council and CIO primary research—provides business technology leaders with analysis and insight on information technology trends and a keen understanding of IT’s role in achieving business goals. Additionally, CIO provides opportunities for IT solution providers to reach this executive IT audience. The CIO Executive
Council is a professional organization of CIOs created to serve as a trusted peer advisory group. CIO is published by IDG Enterprise, a subsidiary of International Data Group (IDG), the world’s leading media, events, and research company. Company information is available at http://www.idgenterprise.com/.
About LPL Financial
LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the retail financial advice market and served $488 billion in advisory and brokerage assets as of June 30, 2016. LPL is one of the fastest growing RIA custodians and is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine June 1996-2016). The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,000 independent financial advisors and over 700 banks and credit unions, enabling them to help their clients turn life's aspirations into financial realities. Advisors associated with LPL also serviced an estimated 45,000 retirement plans with an estimated $124 billion in retirement plan assets, as of June 30, 2016. LPL also supports approximately 4,200 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have more than 3,200 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.
Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC. IDG Enterprises and CIO are separate entities from LPL Financial.