LPL Financial launches private client services network

LPL Financial LLC launched the LPL Private Clients Services Network, which will provide affiliated advisers access to vetted companies and help them serve their high-net-worth clients.

With access to this network, advisers can offer personalized, full-service options to their clients. The program can assist them with sale of small and midsize businesses, high-end property and casualty insurance, specialized tax services, hedging and monetizing concentrated stock positions, and specialty lending.

The new service will be an addition to the company's private client offering. LPL's private client offering has led to a 200% growth in high net worth household assets for the company between 2016 and 2021. These are households with assets greater than $5 million invested with their LPL adviser.