LPL Financial launched The Rollover Results Program, to ensure that when employees leave a job and a 401(k) plan behind, those investors and their financial advisors have useful tools to plan for the best outcome.
The first piece of that is the Retirement Results Desk. It is a dedicated specialist group that educates plan participants, expedites rollovers and helps advisors who specialized in retirement plans grow and strengthen their businesses. The effort is part of a more comprehensive worksite system that the independent broker-dealer is developing.
“There are a lot of efforts from senators and congressmen around the great need for financial literacy,” Bill Chetney, executive vice president of LPL Financial Retirement Partners said in an interview. “Our end-to-end approach will seek to instill financial education and literacy, and provide participant advice on their investments.”
The tool will also help advisors put together partnerships with other skilled advisors within the LPL Financial network, especially for the purpose of creating specialized retirement planning options for investors.
Although some advisors are more purely focused on consulting for retirement plans at the institutional level, they belief strongly that it is important for plan participants to have advice when they go into an IRA environment, Chetney says.
“So we partner with LPL advisors who have traditionally worked in the retirement plan space, advising company retirement plans,” Chetney says.
Plan advisors enrolled in The Rollover Results Program can request a list of highly qualified partnership candidates from the service’s advisor-matching database. After that, they can select an appropriate partner and craft the customized agreements on a client-by-client basis.
“The program helps our advisors build their businesses by putting them in control of new options for serving sponsor clients’ separating employees,” Chetney also said in a statement. Chetney added that The Rollover Results Program demonstrates LPL Financial’s longer-term commitment to building a range of complementary platforms that enhance the way financial advisors deliver retirement planning advice, and how participants understand the information.
