LPL Launches SMS Plus Powered by Lincoln Financial Group

Last Edited by: LPL Financial

Last Updated: October 14, 2021

LPL Financial SMS Plus image

CHARLOTTE, N.C. – Oct. 14, 2021 – LPL Financial LLC today announced that LPL advisors now have access to the newly launched Strategic Market Solution (SMS) Plus, a multiple employer aggregate program powered by Lincoln Financial Group’s recordkeeping platform. This expansion of LPL’s existing SMS program leverages strategic industry leaders to offer a suite of retirement plan administration solutions for small businesses and start-up plans. The aggregated support model helps mitigate investment fiduciary risk and creates efficiencies of scale for plan sponsors, reducing the costs and administrative tasks associated with managing retirement plans and ultimately giving sponsors the ability to offer retirement plan options designed to fit their employees’ needs, so they can focus on running their core business.

The solution brings together specialized, top-tier providers to help provide oversight and management of retirement plans. SMS Plus is powered by Lincoln Financial Group’s fully integrated and easy-to-use recordkeeping platform, which enables plan sponsors the ability to drive results through their personalized website with at-a-glance plan details. In addition, 3(38) investment management fiduciary services are offered through LPL, the Retirement Advantage (TRA) offers 3(16) administrative fiduciary services, and sponsors can opt for payroll services through Paylocity.

“Small businesses cite cost and complexity as the most common barriers to offering a retirement plan. Meanwhile, investors have assumed greater responsibility for their personal retirement outcomes,” said Rob Pettman, LPL executive vice president, Wealth Management Solutions. “We believe providing American workers access to employer-sponsored plans is imperative to retirement readiness. LPL is committed to delivering retirement plan resources that can help advisors grow their business by serving the unique needs of their clients.”

“As more Americans rely on their employer-sponsored retirement plan savings to support them through retirement, it’s increasingly important for small business owners to offer these critical savings vehicles to their workforce,” said Ralph Ferraro, senior vice president, Retirement Plan Products and Solutions, Lincoln Financial Group. “By joining a group employer plan, business owners can have the benefits of reduced administrative responsibilities combined with a customized plan for their workforce, so that they can help their employees achieve the retirement they envision.”

About LPL Financial

LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader* in the markets we serve, supporting more than 19,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to objective guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.

*Top RIA custodian (Cerulli Associates, 2019 U.S. RIA Marketplace Report); No. 1 Independent Broker-Dealer in the U.S (Based on total revenues, Financial Planning magazine June 1996-2020); No. 1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 as of June 2021

About Lincoln Financial Group

Lincoln Financial Group provides advice and solutions that help people take charge of their financial lives with confidence and optimism. Today, more than 17 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, and guard against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. The company had $324 billion in end-of-period account values as of June 30, 2021. Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and FTSE4Good. Dedicated to diversity and inclusion, we earned perfect 100 percent scores on the Corporate Equality Index and the Disability Equality Index, and rank among Forbes’ Best Large Employers and Best Employers for Women, and Newsweek’s Most Responsible Companies. Learn more at: Follow us on FacebookTwitterLinkedIn, and Instagram. Sign up for email alerts at

Lincoln Financial Group and LPL are not affiliates.

Securities and advisory services offered through LPL Financial LLC, an SEC- registered broker-dealer and investment advisor. Member FINRA/SIPC. LPL, Lincoln, TRA and Paylocity are separate and unaffiliated entities. Plan sponsors should be aware of, and consult their attorney, compliance consultant or tax advisors, on their due diligence obligations when considering whether to outsource plan functions to third party service providers. Please also note that the services providers make no endorsements or representations regarding the other service providers.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial LLC. We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.