LPL Financial Office Sign

LPL Financial Earns First Advisor Online Tool Suite Certification for Investment Support Services

LPL Financial

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 LPL Retirement Partners' online tool suite, when in use with LPL's own 12-point scoring methodology for investment analys...

-- LPL Creates Efficiencies for Advisors Seeking Office Certification --

SAN DIEGO, Nov. 19, 2015 (GLOBE NEWSWIRE) -- 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 LPL Retirement Partners' online tool suite, when in use with LPL's own 12-point scoring methodology for investment analysis*, has been certified by the Centre for Fiduciary Excellence (CEFEX) as adhering to its standard of excellence for Investment Support Services. Certification was designed by CEFEX to provide assurance to advisors that the use of the tool suite can facilitate their investment fiduciary obligations and supports adoption of best practices in investment management. LPL is the first organization to successfully complete CEFEX's independent certification process for an online retirement plan tool; the certification is typically sought by individual advisory offices.

"By having LPL's retirement plan tool suite receive CEFEX certification, it creates efficiency for advisors and their practices by making the office CEFEX certification process even easier," said David Reich, LPL executive vice president and head of Retirement Partners. "And it enables them to be able to demonstrate to their clients that they are attuned to prudent fiduciary practices and dedicated to upholding their clients' best interests."

The standard for Investment Support Services is based on the Prudent Practices for Investment Fiduciaries, a series of standards published by fi360 Inc. (fi360) of Pittsburgh, Pa., which owns CEFEX. This global standard specifies how a firm can help investors and fiduciaries manage the overall investment management process, including the selection, monitoring and de-selection of investment managers as well as the development of processes to implement investment strategies and fiduciary practices on an ongoing basis.

The annual CEFEX certification process involves a detailed assessment of the tools and how they compare to the Prudent Practice standard, as well as a sample review of client files, procedures, disclosures and interviews with key personnel. The certification process is based on the International Organization for Standardization audit process ISO 19011.

*Scope of certification limited to provision of LPL Financial Retirement Partners tool suite when used in conjunction with the LPL 12-point scoring methodology: Fiduciary Monitoring System, Plan Advice Manager, Expense Analyzer, Fiduciary Vault, Retirement Plan Health Check, Fee Comparison and Analysis Tool, Fund Line-up Comparison Tool and RFP Director.

About LPL Financial 

LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the retail financial advice market and currently serves $462 billion in advisory and brokerage assets. 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 1996-2015). 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 service an estimated 40,000 retirement plans with an estimated $115 billion in retirement plan assets, as of September 30, 2015. LPL also supports approximately 4,300 financial advisors licensed and affiliated with insurance companies with customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,413 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit

Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC

About CEFEX: 
CEFEX, Centre for Fiduciary Excellence, LLC, an fi360 company, is an independent certification organization. It works closely with industry experts to provide comprehensive assessment programs to improve the fiduciary practices of investment stewards, advisors, record keepers, administrators and managers.  CEFEX has offices in Pittsburgh, Pa. and Toronto, Canada.

About fi360: 
fi360's mission is to help institutions and advisors gather, grow, and protect assets through better investment and business decision-making. fi360's capabilities include professional development, software applications, and research and practice management. fi360 is the home of the AIF® designation and the fi360 Toolkit®, and is the parent company of Ann Schleck & Co., CEFEX, and IPS AdvisorPro. For more information about fi360, visit

LPL Financial is not affiliated with CEFEX or fi360.


Connect with Us!


Media Contacts:

Lauren Hoyt-Williams


Carlos Panksep


Primary Logo


Source: LPL Financial



News Provided by Acquire Media