Nationwide’s retirement plan business now offers access to LPL Financial’s Employee Advice Solution (EAS) through its recordkeeping platform.
The new tool allows Nationwide to supply LPL-affiliated advisers with the data they need to offer timely, personalized financial advice to plan participants, according to the firms.
The EAS tool, launched by LPL in 2014, delivers participant advice through an online service. Based on information that participants provide about their financial picture, participants can engage with a financial adviser directly to receive personalized retirement advice, or they can choose to manage their accounts on their own. They can also elect to receive advice all the way through retirement, LPL explains.
Nationwide, as the plan recordkeeper, will provide a dailyparticipant-level data feed when requested by plan sponsors, enabling LPL advisers to provide tailored financial advice and facilitate a closer relationship with plan participants.
The EAS tool is part of LPL’s Worksite Financial Solutions platform, which offers a suite of services to help participants create confidence in their financial futures. The platform is “fully integrated with LPL’s reporting and monitoring tools for plan advisers,” and now Nationwide is “one of the few retirement plan providers to support both the EAS tool and the Employee Transition Solution tool, which is also available within the platform and provides participants with guidance during career changes,” LPL explains.
Joe Frustaglio, vice president of Nationwide’s private-sector retirement plans business, highlights that Nationwide and LPL Financial have a long-standing partnership and a history of working together to deliver better outcomes for participants.