LPL Pushes Upstream to Court HNW Clients
May 27, 2015
By Danielle Verbrigghe, FUNDFfire
LPL Financial is arming its advisors to attract high-net-worth clients and hitting the road to promote its new private client program.
LPL first started offering its new private client program, which includes consulting services, practice management, research and technology resources geared at helping advisors attract and serve high-net-worth clients, late last year to a selective group of advisors. Now the firm has opened the program up to its entire force of more than 14,000 advisors across its independent broker-dealer and registered investment advisor (RIA) channels. The firm has also stepped up efforts at promoting the new offering, hoping to drive growth in the high-net-worth segment.
As part of its efforts, LPL is calling on its third-party asset management partners to play a role in helping educate advisors about tactics and strategies for serving wealthy investors.