LPL Unveils Rebalancing Tool, Platform

The Enhanced Trading and Rebalancing (ET&R) platform from LPL Financial LLC lets advisers manage portfolio trading activity across multiple client accounts.

The platform is fully integrated with LPL Financial’s custodial systems and enables advisers to perform a range of trading and rebalancing activities on a daily basis for any number of client portfolios and accounts. Advisers should see significant time savings and reduced workload, as well as assignment of average prices for all securities included in large-scale, block trades or rebalancing activities. Supported investment instruments include equities, mutual funds, exchange-traded funds (ETFs), options and fixed income.

The ET&R platform will be immediately available to all LPL Financial advisers on the company’s Strategic Asset Management (SAM) and Strategic Wealth Management (SWM) fee-based platforms. The company expects the ET&R platform to be available to LPL Financial brokerage accounts within the next 12 months.

The Rebalancing platform will be made available at an extremely competitive price point versus comparable third-party rebalancing offerings, with no cost to LPL Financial advisers through June 30th, 2014, and then priced at $150 per month. This pricing model is further beneficial to advisers because the fee will only apply to those users within an adviser’s practice who execute trades through the rebalancing platform – greatly reducing the expense for advisers who work as a team.

“We are directly addressing what our advisers have told us they need and want in order to continue to grow their businesses and serve their clients,” said Victor Fetter, managing director and chief information officer of LPL Financial. “By implementing new development practices and working in conjunction with advisers to pilot this release, we have introduced successive improvements to the platform at a greater velocity this year, while strengthening our responsiveness to advisers’ ideas and feedback.”

The new ET&R platform was Initially rolled out in beta and pilot trials earlier in the year, then to a larger group of approximately 300 top producers.