Plans that use the Ascensus recordkeeping platform and that have engaged an LPL adviser are eligible for the service. LPL’s Worksite Financial Solutions allows participants to engage with their LPL financial adviser face-to-face, online, or by phone to receive personal financial advice based on their unique situation.
The Employee Advice Solution of Worksite Financial Solutions delivers customized retirement advice to plan participants. After a detailed “on-boarding” process, participants can elect to receive personalized advice through the system or manage their accounts on their own. The system is capable of providing advice while the participant is accumulating their nest egg, in addition to supporting them through retirement. Through adoption of Worksite Financial Solutions, Ascensus helps retirement plan sponsors and LPL Financial advisers better address the needs of plan participants. (See “LPL Platform Addresses Financial Life Stages.”)
Worksite Financial Solutions is integrated with LPL Financial’s reporting and monitoring tools for plan advisers. Participants who are clients of LPL can receive account reviews and updates from their adviser, creating opportunities for advisers to form closer relationships with plan participants.
LPL Financial is an independent broker/dealer, a registered investment adviser (RIA) custodian and a wholly owned subsidiary of LPL Financial Holdings Inc. Ascensus is a provider of retirement plan solutions for organizations of all sizes.