LPL Financial LLC today announced that the firm’s proprietary investment management solution, Firm Sleeve, has surpassed $3.4 billion in assets, demonstrating the value of a personalized investment management solution. Built within LPL’s centrally managed Model Wealth Portfolios (MWP) platform, Firm Sleeve delivers scalable, digital and flexible solutions for large firms, registered investment advisors (RIAs) and institutions. The solution gives them the ability to differentiate their investment management offering to attract advisors and serve clients, while reducing the amount of time spent on investment management.
“As LPL’s newest advisory capability, Firm Sleeve is rapidly transforming the way that large firms, RIAs and institutions work,” said Rob Pettman, LPL Financial executive vice president, Wealth Management Solutions. “The solution’s growth represents a significant milestone in our efforts to elevate client services and is indicative of our success in streamlining money management practices to make it easier for our advisors to operate their practices. With Firm Sleeve, firms, RIAs and institutions can now confidently advise their investors at scale, re-imagining traditional service offerings with convenience, control and customization.”
Launched in early 2021, Firm Sleeve offers large firms, RIAs and institutions a new way of doing advisory business. The platform allows them to create and share centralized investment models with their advisors, saving internal resources and managing risk during periods of high market volatility. They can also outsource the investment implementation to LPL’s Overlay Management team, so they can focus on managing investment strategies and helping their advisors construct robust portfolio strategies for their clients. Additionally, it gives firms, RIAs and institutions the ability to incorporate their own brand within the platform, helping to increase an advisor’s connection to their firm’s mission and values for investing.
Firm Sleeve follows the success of one of LPL’s most popular solutions, Advisor Sleeve, which was launched broadly to LPL advisors in April 2019. Advisor Sleeve gives LPL advisors the ability to create and manage their own models, while outsourcing the trading and operations components. Advisor Sleeve reached $5.0 billion in assets as of May 31, 2021.
This article originally appeared on Yahoo! Finance.
