LPL Lowers Pricing on Small 401(k) Platform
December 3, 2018 By Diana Britton, Wealthmanagement.com Effective in January, platform fees for advisors serving small retirement plans will be lowered from 20 to 10 basis points. In its latest move to improve pricing for advisors, LPL Financial is lowering the platform fees on its small retirement plan platform from 20 to 10 basis points, effective in January. The firm also added two new recordkeepers to the platform this year and will add more next year. In April, the firm reduced pricing on its Strategic Asset Management advisory platform. The firm also lowered the asset size required to join a hybrid advisory firm from $50 million to $25 million. The firm has also been improving its services to retirement plan advisors. In July, LPL revised the qualifications for its Retirement Plan Consulting Program, allowing more...