04.11.25

LPL To Implement Fee for Some Research-Managed Model Portfolios

by: Sam Del Rowe

LPL Financial is set to implement a new manager fee for instances in which its research team acts as a portfolio strategist for certain model portfolios. The fee will apply to "certain newly launched model portfolios" and will be within a range of 0% to 0.6% of account assets, including cash. The fee is not split with the client's financial advisor and there will be no manager fee rate increase for existing clients' current model selections. LPL in a filing about the change noted a "financial incentive" for the firm to select its internal team and grow its assets under management.

Read the full article on Financial Advisor IQ