This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

LPL Financial Launches Worksite Financial Solutions Platform

Stocks in this article: LPLA

Bill Chetney, Executive Vice President of LPL Financial Retirement Partners, said, "Since our acquisition by LPL Financial, we have actively leveraged our enhanced resources and scale to completely re-invent the world of retirement plan financial advice. The current model for providing retirement advice to plan participants is simply inadequate, and does not enable workers to manage and grow their retirement plan assets across the full spectrum of their financial lives. With the Worksite Financial Solutions platform, LPL Financial is taking steps to provide workers the advice they need for retirement, while at the same time creating new opportunities for our affiliated retirement-plan focused financial advisors."

Barbara Delaney, Principal of StoneStreet Equity, LLC in Pearl River, New York, a retirement-plan focused financial advisor with $2.5 billion in  assets under advisement affiliated with LPL Financial, said, "The Worksite Financial Solutions platform shows how LPL Financial is taking a new and innovative approach to the problems facing thousands of American workers and plan sponsors across the country. With the new framework they have announced today, LPL Financial is stepping up to make real advice more widely available to plan participants, while opening enormous opportunities for retirement plan-focused advisors to work with a large, underserved segment of clients nationwide."

Specific tools offered through the Worksite Financial Solutions platform will include the following:

  • Employee Advice Solution.   The platform will enable the delivery of custom-tailored participant advice through an online service offering that gathers information on each participant's financial picture through a detailed "on-boarding" process. Based on this information, participants can elect to receive personalized advice through the system or manage their accounts on their own. Participants can opt to receive advice all the way through retirement, as well.This online platform will feature full integration with LPL Financial's reporting and monitoring tools for plan advisors. Participants will receive account reviews and updates from the plan advisor, facilitating a closer relationship between advisors and plan participants.
  • Employee Education Solution.   The educational services component of the Worksite Financial Solutions platform will include an online financial wellness center powered by Financial Finesse, which will enable participants to develop a clear view of their own current financial situations and needs and provide them tools to support their individual improvement in areas of concern. Plan sponsors will be able to view aggregate data from participant wellness assessments as part of the integrated plan-level reporting they receive from their LPL Financial advisor.The educational component of the platform will also help to build stronger relationships between plan sponsors, participants and advisors by providing advisors with pre-approved marketing materials and educational workshops designed to facilitate ongoing, in-depth dialogue with plan participants about their financial needs which are tailored to the gaps identified through the survey process mentioned above.
  • Employee Transition Solution The Worksite Financial Solutions platform will also incorporate the Employee Transition Solution, which LPL Financial launched in May 2012 to educate retirement plan participants, and where appropriate, transition retirement plan accounts for separating employees. This program provides retirement plan-focused advisors powerful new options to grow and strengthen their businesses.

Mr. Chetney concluded, "As we seek to tackle the serious challenges facing plan sponsors and participants in today's retirement environment, LPL Financial is excited to propose new solutions that will help move the industry forward. The Worksite Financial Solutions platform will enable plan sponsors, advisors and participants alike to better understand and prepare for the retirement landscape, and will help American workers to maximize one of their most valuable assets – their savings in employer-sponsored retirement plans."

2 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs