LPL Financial Launches New Program to Serve Affluent Market
LPL Financial LLC, the nation's largest independent broker-dealer, has launched the LPL Private Client Services Network.
LPL Financial LLC, the nation’s largest independent broker-dealer, has launched the LPL Private Client Services Network, a new program to provide LPL-affiliated advisors access to a register of companies to help serve the needs of high-net-worth clients.
“The new program is a distinguishing addition to our Private Client offering, creating a full-service option for advisors serving or seeking to serve affluent clients,” said Patrick Herrington, vice president of LPL Private Client. “With LPL’s Private Client Services Network, advisors have access to vetted providers, enabling a concierge-like experience that can help advisors grow value and deepen relationships with clients.”
According to the company, access to the network can help with the sale of small and mid-sized businesses; hedging and monetizing concentrated stock positions; high-end property and casualty insurance; specialized tax services; and specialty lending.
From 2016 to 2021, LPL’s Private Client offering has reportedly enabled a more than 200 percent growth of assets associated with high-net-worth households, defined as households with greater than $5 million in assets invested with their LPL advisor.
LPL Financial supports approximately 20,000 financial advisors, and approximately 800 institution-based investment programs and approximately 500 independent RIA firms nationwide.
