CHARLOTTE, N.C. – Oct. 13, 2020 – LPL Financial LLC, a leading retail investment advisory firm, independent broker-dealer and registered investment advisor (RIA) custodian, today announced the firm’s Model Wealth Portfolios (MWP) advisory platform has been named a finalist for the Wealth Management Platform of the Year category as part of the 2020 Money Management Institute (MMI)/Barron’s Industry Awards. Platform of the Year honors wealth management firms whose investment advisory platforms exemplify innovation in delivering better outcomes for investors and financial advisors.
MWP is LPL’s premier centrally managed platform offering fully diversified mutual fund/ETP models and guided by 15 institutional portfolio strategists, including LPL Research. Through disruptions brought on by COVID-19, MWP has played a pivotal role in helping advisors adapt to market volatility, while providing the opportunity to access the benefits of operating a models-based practice. With advisors assured of support from LPL for outsourced trading and rebalancing, advisors could stay focused on communicating with clients.
In April 2019, Model Wealth Portfolios evolved to deliver more innovation with the introduction of Advisor Sleeve ℠. Advisor Sleeve is a comprehensive platform option that allows advisors to act as MWP strategists and build their own models with specific investment objectives to deliver their unique value, while outsourcing trading and rebalancing tasks. Since launching, LPL advisors have added more than $3B in assets to the platform. The platform has grown to offer a compelling menu of strategies, including new models that address downside risk management. As a result of the demands of COVID-19, the firm expanded the number of advisor models from 10 to 15.
LPL's mission and philosophy
“LPL’s mission is to take care of our advisors so they can take care of their clients. This is what drives us to continuously enhance our advisory platform, which includes MWP, to make it easy to use, flexible, and cost effective for our advisors,” said Rob Pettman, LPL Financial executive vice president, Investor and Investment Solutions. “Through committed, ongoing investments in capabilities, LPL can uniquely deliver a differentiated, comprehensive wealth management platform, with access to leading capabilities, products and platforms that empower advisors to run efficient, productive practices.”
“We congratulate LPL along with the other finalists for their outstanding achievements to enhance the investment advisory solutions industry,” said Craig Pfeiffer, MMI President and CEO. “It is an honor for MMI to partner with Barron’s to recognize firms with groundbreaking innovations benefitting financial advisors and investors.”
Finalists were selected by a special review committee representing all segments of MMI’s membership. Member firms vote to determine winners, which will be announced Oct. 22 during the 2020 MMI virtual conference.
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.
*Based on total revenues, Financial Planning magazine June 1996-2020
Throughout this communication, the terms “financial advisors” and “advisors” include registered representatives and/or investment adviser representatives affiliated with LPL Financial, LLC, an SEC registered broker-dealer and investment adviser.
Securities and Advisor Services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC.
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 portfolios benefit from ongoing monitoring, rebalancing, and tax management services implemented by the LPL Financial Overlay Portfolio Management Group.
There is no assurance that the Model Wealth Portfolios are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principle.
Money Management Institute, Barron’s and LPL are separate entities.