LPL Monetary says it’s introducing a brand new affiliation mannequin for advisors centered on serving purchasers with at the very least $5 million in property.
The agency now serves about $130 billion in high-net-worth property. General, its 22,204 advisors work with roughly $1.2 trillion in complete consumer property.
LPL plans to share instruments for superior property and philanthropy planning, earnings tax technique, trustee providers, lending, life insurance coverage planning and different investments with advisors becoming a member of this channel.
“Personal Wealth permits advisors the identical full assist of working in a wirehouse, with out the widespread downsides of grid adjustments, progress targets, family minimums and proprietary merchandise,” mentioned Gary Carrai, head of Advisor Enterprise Traces, in a press release.
