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Mutual of Omaha has integrated LPL Financial’s Worksite Financial Solutions Platform into its 401(k) product to benefit LPL advisors and their clients. LPL Financial is the nation’s largest independent broker-dealer, an RIA custodian and a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA).
Mutual of Omaha’s 401(k) product enables LPL Financial advisors to offer plan sponsor clients the LPL Financial Worksite Financial Solutions platform’s Employee Advice Solution, which allows plan participants to receive customized retirement advice. Participants can elect to receive personalized advice through LPL’s Employee Advice Solution or manage their accounts on their own. Plan participants can elect to receive advice all the way through retirement as well.
Mutual of Omaha and LPL Financial also offer plan sponsor clients the Worksite Financial Solutions platform’s Employee Transition and Engagement Solutions, which addresses the needs of plan participants throughout their financial lives from the date of hire to separation and beyond. The platform also helps Mutual of Omaha and LPL Financial advisors to better engage participants either face-to-face, online or over the phone - to receive personal financial advice based on their unique situation so they can adequately plan for the future.
John Corrieri, VP of 401(k) of Mutual of Omaha, said: “We are very pleased to be among the first to work with LPL Financial to offer our shared clients the Worksite Financial Solutions Platform. This aligns with our strategy of helping advisors simplify plan education and administration for plan sponsors while providing plan participants the tools and support they need to prepare for retirement.”
Bill Chetney, Executive Vice President of LPL Financial Retirement Partners, said: “The Worksite Financial Solutions platform represents LPL Retirement Partners’ vision for the future of the retirement advisory industry, and enables plan participants to receive the personalized advice they need in order to prepare for the landscape ahead with confidence. We are honored that Mutual of Omaha Retirement Services recognizes the importance of this vision, and we look forward to working with them and all of our retirement-plan focused advisors to move the industry forward.”