LPL Financial, in partnership with consulting firm The Ensemble Practice, has announced its new Enterprise Management Consulting program.
LPL says the program works with the broker-dealer’s affiliated large enterprises--independent advisor practices with minimum annual revenues of $5 million--to provide customized business strategy consultations and planning geared at enhancing growth, profitability and the value-add these firms provide to their underlying independent advisor practices.
The consulting team is intended to act as a supplemental resource to the existing senior executives of LPL’s affiliated advisor practices. The team will develop a business plan based on four key elements: financial management; operational efficiency; growth maximization and organization design.
“As our affiliated enterprises grow into more institutionalized firms, it is crucial to reinvest in growth that prioritizes their ability to add maximum value to their underlying advisors’ practices, and to do so in a scalable fashion,” Sal Zambito, senior vice president of business consulting at LPL Financial and leader of the Enterprise Management Consulting team, said in a prepared statement.