LPL Program Can Cut Vendor Costs

The Vendor Affinity Program aims to provide a pricing advantage for LPL advisers.

LPL Financial LLC has debuted a Vendor Affinity Program, an initiative to help LPL advisers reduce the complexity and costs of running their businesses via a centralized repository of vendors that have agreed to provide products and services at discounted prices.

Advisers and their staff can access the program through an online portal that is the central information hub. Advisers, program managers and staff can review and compare third-party vendors offering products and services to help them run and expand their businesses.

Program participation gives advisers access to more than 50 vendors—including Orion, Morningstar, S&P Capital IQ, McAfee, Malwarebytes, FedEx, Staples, Avis and Tiffany’s— that provide an array of products and services to address a range of facets of an adviser’s business, including document management, financial planning, performance reporting, CRM, research, analytics, marketing, social media, practice management and client appreciation.

Participating vendors provide a price discount ranging from 10% to 80%, depending on the product, service and vendor. Vendors were selected based on adviser experience and their ease of doing business with LPL advisers, and have met certain security and compliance requirements.

Technology is a major contributor to creating increased efficiency and driving greater productivity, according to Victor Fetter, LPL managing director and chief information officer. “Being able to connect LPL clients with leading technology solution providers through this program adds a new dimension to the level of service and support we can provide to clients to help them manage and grow their businesses,” Fetter said in a statement.