LPL Financial Launches SMS Plus Powered by Lincoln Financial Group
October 14 2021 - 8:05AM
LPL Financial LLC (Nasdaq:LPLA) today announced that LPL
advisors now have access to the newly launched Strategic Market
Solution (SMS) Plus, a multiple employer aggregate program powered
by Lincoln Financial Group’s recordkeeping platform. This expansion
of LPL’s existing SMS program leverages strategic industry leaders
to offer a suite of retirement plan administration solutions for
small businesses and start-up plans. The aggregated support model
helps mitigate investment fiduciary risk and creates efficiencies
of scale for plan sponsors, reducing the costs and administrative
tasks associated with managing retirement plans and ultimately
giving sponsors the ability to offer retirement plan options
designed to fit their employees’ needs, so they can focus on
running their core business.
The solution brings together specialized, top-tier providers to
help provide oversight and management of retirement plans. SMS Plus
is powered by Lincoln Financial Group’s fully integrated and
easy-to-use recordkeeping platform, which enables plan sponsors the
ability to drive results through their personalized website with
at-a-glance plan details. In addition, 3(38) investment management
fiduciary services are offered through LPL, the Retirement
Advantage (TRA) offers 3(16) administrative fiduciary services, and
sponsors can opt for payroll services through Paylocity.
“Small businesses cite cost and complexity as the most common
barriers to offering a retirement plan. Meanwhile, investors have
assumed greater responsibility for their personal retirement
outcomes,” said Rob Pettman, LPL executive vice president, Wealth
Management Solutions. “We believe providing American workers access
to employer-sponsored plans is imperative to retirement readiness.
LPL is committed to delivering retirement plan resources that can
help advisors grow their business by serving the unique needs of
their clients.”
“As more Americans rely on their employer-sponsored retirement
plan savings to support them through retirement, it’s increasingly
important for small business owners to offer these critical savings
vehicles to their workforce,” said Ralph Ferraro, senior vice
president, Retirement Plan Products and Solutions, Lincoln
Financial Group. “By joining a group employer plan, business owners
can have the benefits of reduced administrative responsibilities
combined with a customized plan for their workforce, so that they
can help their employees achieve the retirement they envision.”
About LPL FinancialLPL Financial (Nasdaq: LPLA)
was founded on the principle that the firm should work for the
advisor, and not the other way around. Today, LPL is a leader* in
the markets we serve, supporting more than 19,000 financial
advisors, 800 institution-based investment programs and 450
independent RIA firms nationwide. We are steadfast in our
commitment to the advisor-centered model and the belief that
Americans deserve access to objective guidance from a financial
advisor. At LPL, independence means that advisors have the freedom
they deserve to choose the business model, services, and technology
resources that allow them to run their perfect practice. And they
have the freedom to manage their client relationships, because they
know their clients best. Simply put, we take care of our advisors,
so they can take care of their clients.
*Top RIA custodian (Cerulli Associates, 2019 U.S. RIA
Marketplace Report); No. 1 Independent Broker-Dealer in the U.S
(Based on total revenues, Financial Planning magazine June
1996-2020); No. 1 provider of third-party brokerage services to
banks and credit unions (2020-2021 Kehrer Bielan Research &
Consulting Annual TPM Report); Fortune 500 as of June 2021
About Lincoln Financial Group Lincoln Financial
Group provides advice and solutions that help people take charge of
their financial lives with confidence and optimism. Today, more
than 17 million customers trust our retirement, insurance and
wealth protection expertise to help address their lifestyle,
savings and income goals, and guard against long-term care
expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial
Group is the marketing name for Lincoln National Corporation
(NYSE:LNC) and its affiliates. The company had $324 billion in
end-of-period account values as of June 30, 2021. Lincoln Financial
Group is a committed corporate citizen included on major
sustainability indices including the Dow Jones Sustainability Index
North America and FTSE4Good. Dedicated to diversity and inclusion,
we earned perfect 100 percent scores on the Corporate Equality
Index and the Disability Equality Index, and rank among Forbes’
Best Large Employers and Best Employers for Women, and Newsweek’s
Most Responsible Companies. Learn more
at: www.LincolnFinancial.com. Follow us
on Facebook, Twitter, LinkedIn, and Instagram.
Sign up for email alerts at http://Newsroom.LFG.com.
Lincoln Financial Group and LPL are not affiliates.
Securities and advisory services offered through LPL Financial
LLC, an SEC- registered broker-dealer and investment
advisor. Member FINRA/SIPC. LPL, Lincoln, TRA and
Paylocity are separate and unaffiliated entities. Plan sponsors
should be aware of, and consult their attorney, compliance
consultant or tax advisors, on their due diligence obligations when
considering whether to outsource plan functions to third party
service providers. Please also note that the services providers
make no endorsements or representations regarding the other service
providers.
Throughout this communication, the terms “financial advisors”
and “advisors” are used to refer to registered representatives
and/or investment advisor representatives affiliated with LPL
Financial LLC. We routinely disclose information that may be
important to shareholders in the “Investor Relations” or “Press
Releases” section of our website.
LPL Media Contact:Lauren Hoyt-Williams(980)
321-1232Lauren.Hoyt-Williams@lplfinancial.com
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Lincoln Media Contact:Lora LewisLincoln
Financial Group603-512-7030Lora.Lewis@lfg.com
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