The latest tech news in wealth management across the world.

LPL Financial, the investment advisor and broker-dealer, has delivered “Advisor Sleeve” in its model wealth portfolios platform, which it says will help advisors gain scale and efficiency in their businesses.

The offering allows advisors to run their own custom models in model wealth portfolios, similar to what they can do in LPL’s Strategic Asset Management (SAM) and Strategic Wealth Management (SWM) platforms, where the advisor is the portfolio manager. 

By making use of the new service, advisors not only keep control of portfolios but achieve the cost savings and efficiency that comes with outsourcing certain functions, such as trade execution.

The offering comes from the AdvisoryWorld fintech business which LPL Financial acquired at the end of last year.

“Advisor Sleeve was designed as a solution to help make managing money easier,” Rob Pettman, executive vice president, products and platforms, said.

In a separate announcement LPL Financial announced that JR Frenzel has joined it. The firm aligns with Good Life Companies, an enterprise firm offering support and resources to advisors using LPL’s broker-dealer and corporate registered investment advisor platforms. Frenzel reported having served approximately $220 million of client brokerage and advisory assets. He joins from Oppenheimer & Company.