LPL Financial, the nation’s largest independent broker-dealer, has announced that the firm’s Advisor Sleeve assets have surpassed $2 billion, less than a year since the investment solution was broadly launched to LPL advisors, the company said in a news release today.

Built on LPL’s centrally-managed Model Wealth Portfolios platform, the solution is designed to help advisors gain scale and efficiency with the ability to outsource operational functions associated with managing custom models.

Model Wealth Portfolios are centrally managed, fee-based portfolios constructed by LPL Financial Research. Investment choices include mutual funds and exchange-traded products. The portfolios benefit from ongoing monitoring, rebalancing, and tax management services implemented by the LPL Financial Overlay Portfolio Management Group.

Advisor Sleeve enables advisors to act as strategists while outsourcing daily operational tasks such as model management, trading, and rebalancing to LPL. Leveraging the risk scoring methodology from AdvisoryWorld, a wholly owned subsidiary of LPL, advisors can use Advisor Sleeve to build models tailored to specific investment objectives and actively monitor portfolio allocations to help ensure risk exposure remains aligned with investor preferences. 

In March, LPL expanded the number of models advisors can access from 10 to 15 models, providing additional flexibility in response to recent market disruption.

“It is remarkable that we hit this milestone in the midst of global disruption,” said Rob Pettman, LPL Financial executive vice president, Product and Platform Management. “It shows the value LPL advisors have to their clients, by helping them manage risk and provide ongoing advice that helps them stay focused on their goals.”

LPL Financial is headquartered in Ft. Mill, S.C., San Diego and Boston.