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LPL Takes Closer Aim At High Net Worth Market

Eliane Chavagnon

6 May 2016

LPL Financial is expanding the resources it provides to advisors and institutions with high net worth clients.

The new “private client curriculum series” will offer educational content and practice management resources on top of the firm's existing offering it launched last year.

LPL has been busy growing its HNW offering over the last several years, with $27 billion in assets currently in HNW accounts, up from $20 billion at the end of 2013.

“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,” said Matt Enyedi, LPL executive vice president of RIA and high net worth solutions.

The firm is also developing an advisory group that will provide input to create a “more focused discussion on the needs of HNW support,” it said.