LPL Financial LLC, the nation’s largest independent broker-dealer, is adding new features to its recently launched Worksite Financial Solutions retirement planning services platform. The new platform includes technology provided by Morningstar Associates LLC, Financial Finesse and Wealth Management Systems Inc.
Morningstar will serve as the technology provider for the Employee Advice Solution, online software that allows advisors to provide participants in retirement plans with personal investment strategies.
Financial Finesse will provide a financial learning center, giving each employee in a plan a personal assessment of his or her financial wellness, along with a step-by-step plan to help improve it. The plan sponsors who use this platform receive aggregated reporting on the financial wellness of their workforce.
Wealth Management Systems will provide Web and call center technology to aggregate plan and participant data from multiple record-keeping systems. This will allow advisors and plan sponsors to help participants efficiently change retirement plan accounts as their employment statuses change.