LPL Financial, a leading independent financial services company, is seeing big growth in large asset owners and is expanding its high-net-worth offering for people with $5 million or more to invest.

During its Private Wealth Symposium, held this week in Southern California for some 180 advisors, LPL announced a new education series, the Private Client Curriculum Series, designed to help financial advisors and institutions “market to, win and retain HNW individuals and institutional clients.”

The expansion of services, which also includes beefing up support for consulting and performance reporting, “reflects the growth of high-net-worth activity at LPL,” said Gary Carrai, senior vice president, HNW Solutions, at LPL Financial.

The company has grown its high-net-worth offering to $27 billion in assets under management, up from $20 billion at the end of 2013. It serviced $479 billion in advisory and brokerage assets as of March 31, 2016.

Matt Enyedi, LPL’s executive vice president for RIA and HNW Solutions, says that as advisors began to win more business among individuals with larger assets, the firm realized it had to invest in more resources to keep the business.

“It’s much less important to know how to win that business than to know how to service that business,” he said.

That is why there is new import on practice management and education, including workshops; a monthly conference call series hosted by thought leaders from financial education providers; a library of white papers tailored to LPL advisors; training with asset management partners; and the opportunity to pursue professional designations that increase skill and improve an advisor’s brand.

LPL has also invested in specialized performance reporting technology and research tailored to the high-net-worth marketplace.

“Serving high-net-worth clients can be more complex, as it requires an understanding of advanced planning aspects of wealth management and an ability to meet increased service expectations,” Enyedi said.

At the conference, where topics ranged from estate planning to pension liabilities, a new advisory group was also announced that will provide input to create a more focused discussion on the needs of high-net-worth support.

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