LPL Financial LLC has launched a comprehensive platform for financial plan sponsors and advisors to help retirement plan participants throughout their employment and retirement years.
The Worksite Financial Solutions platform is designed to cover retirement planning from work years through retirement or separation from the company, according to a press release from LPL Financial, the nation’s largest independent broker-dealer and a subsidiary of LPL Financial Holdings Inc.
The new platform should be ready to roll out in April. It aims to provide more in-depth advice on retirement plan investments throughout workers’ careers, help employees assess their own financial status, and enable employees to identify and implement the most appropriate solutions for their needs if they are separating from an employer’s plan.
LPL says the platform will create opportunities for plan-focused financial advisors, while helping participants, sponsors and advisors throughout the multi-year process of saving and retiring. It was created to provide an alternative to what LPL says is a fragmented system of participant advice that’s often short on employee education and lacking in personalized financial advice.
The platform will deliver custom tailored participant advice integrated with LPL Financial’s reporting and monitoring tools for plan advisors. The site also will provide educational services for participants and enable them to view their aggregate data.