“Twenty years ago, there were two ways to take coffee: Caffeinated and decaffeinated,” (LPL managing director of business development Rich) Steinmeier said. Then along came flavored creamers and then the many ingredients you can add to coffee at Starbucks, he said, calling it “uber-personalization” that allows it to potentially “make a unique drink for every single person on earth.”
“It’s our belief that the same type of flexibility and personalization is just as important to our advisors and historically the industry has never given advisors a model with exactly what they needed,” Arnold went on to say. “There were always tradeoffs to be made. So the objective of the personalization layer is for advisors to no longer have to compromise because you can have the ongoing flexibility and optionality to match your business now and in the future.”
The above comments, as reported in an August 4th ThinkAdvisor piece, highlight part of the thinking behind LPL’s plan to invest $1.3B in technology and other key areas this year alone.
As noted in our most recent Advisor Transition Survey, and amplified by the reliance on tech tools to mitigate the impact of Covid on almost every aspect of life (business and personal), more investment in technology (on top of systems that were already among the best in the industry) should be welcome news to any advisor considering a move to LPL as the future will almost certainly be tech-centric.
If you are curious to learn more about LPL (including their new Linsco channel), 3xEquity can help. We’ll secure an offer from LPL (and other BDs if you wish) all while you remain 100% anonymous (a key benefit throughout the transition process -especially in the early stages). Simply click here to get started.
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