02.16.24
LPL Doubles Down on ‘Choose Your Own Adventure’ Affiliation Strategy
by: Sam Del Rowe
LPL Financial aims to position itself as an option for the entire spectrum of advisors in the marketplace, according to Rich Steinmeier, managing director and divisional president of business strategy and growth. LPL already offers its advisors a wide range of customization in setting up their practices, with six affiliation options and 14 services, but wants to increase the combinations available by many multiples, Steinmeier said. LPL has added several affiliation models as part of an effort “to figure out how to serve the 360,000 advisors in the marketplace and have unique offerings for each of them,” Steinmeier said. But the long-term goal is to have “a fully configurable system” that enables advisors to “run exactly what they want to have in a partner.”
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