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LPL Financial Unveils Next Generation ClientWorks Platform For Advisors at focus14 Annual Conference

Submitted by Technology Tools for Today on August 15th, 2014


Platform expands and enhances the firm’s core technology offerings

LPL Financial LLC, the nation’s largest independent broker-dealer*, an RIA custodian, and a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today unveiled ClientWorksSM, a next-generation technology solution for advisors and institutions that will seamlessly integrate and expand its offerings.

“Our vision for ClientWorks is to make it simple and easy for our advisors to enhance their relationships with their clients, on their own terms,” said LPL Financial President Robert Moore. “Advisors will be able to run their practices more efficiently than before, through improved client management, digital account opening, streamlined trading, enhanced cash management and collaboration capabilities. ClientWorks demonstrates LPL’s continued leadership in the development of financial services technology that is driven by insights from clients and their staff. We are engaging every segment of our client base to ensure ClientWorks is intuitively designed to promote their efficiency and to enhance their support of their clients.”

ClientWorks begins with the release of a new advisor Resource Center this fall, with the full product release in spring 2015. However, some capabilities are already being used by a select group of advisors on a trial basis, with additional advisors to receive access to ClientWorks this year as LPL continuously gathers feedback about the platform and makes ongoing adjustments and improvements. The new ClientWorks platform will eventually replace the current advisor workstation called BranchNet.

ClientWorks will provide:

  • Anywhere, Anytime Access: ClientWorks will support mobile and tablet access, enabling greater flexibility for advisors to access essential account data, tools and services, in the office or on the go.
  • Simplicity and Efficiency: ClientWorks, through an intuitive user interface, will enable swifter access to client service functions like monitoring client relationships, planning and trading activities and investment performance.
  • Customized Insights: ClientWorks will leverage rich analytics to better support productivity, informed decision making and deeper client relationships. Through a unique analytical engine, insights can be generated in real time and saved for future use.
  • Integrated Workflows: ClientWorks will improve productivity as critical tasks such as prospecting, account opening, trading, cash movement and performance reporting will be simplified and integrated.
  • New Resource Center: A core function of ClientWorks is a redesigned Resource Center which allows advisors to search, look for and find information with an improved search engine with mobile accessibility.

“LPL Financial is committed to providing the tools, services, training and support our clients need to work smarter and grow their businesses,” said Victor Fetter, chief information officer at LPL Financial. “We are on a journey.  We’ve adopted an agile approach to designing products that allows us to be more responsive to our clients’ needs, by listening to and leveraging their insight throughout the entire product development process. ClientWorks will significantly improve productivity, allowing advisors and staff to focus more on what matters most to their clients and less on technology.”

LPL Financial advisor Jamie Cox, of Harris Financial Group, has been beta testing the new system. “ClientWorks is a huge step forward and exceeds my expectations. The client management capability, for example, provides advisors with the reporting we need immediately, with a click of a button. This will be a strong addition to the many technological enhancements LPL has made in the past few years, especially in managing client relationships anytime from anywhere.”

*Based on total revenues, Financial Planning magazine, June 1996-2014

About LPL Financial

LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq:LPLA), is a leader in the financial advice market and serves $465 billion in retail assets. The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 13,800 independent financial advisors and over 700 banks and credit unions. LPL Financial is the nation's largest independent broker-dealer since 1996 (based on total revenues, Financial Planning magazine, June 1996-2014), is one of the fastest growing RIA custodians with $78 billion in retail assets served, and acts as an independent consultant to over 40,000 retirement plans with approximately $110 billion in retirement plan assets served. In addition, LPL Financial supports approximately 4,400 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,374 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.

Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC

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