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LPL Hits the Road to Boost Results

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At LPL, which has some 6,400 advisors, the practice-management team aims to host more than 150 face-to-face events nationwide in 2006. That’s in addition to expanding online e-learning and Web-cast programs, says Rochelle Putnam, executive vice president of service and training. “We want to help financial advisors maximize their time with clients by capturing greater efficiencies in the office,” Putnam explains.

Every two weeks, for instance, LPL hosts an online workshop, or webcast, that aims to help FAs work better with certain practice-management software tools, so they can better manage their accounts. Recently, about 80 reps tuned in for such a program, and 155 replayed the webcast at other times.

Specific curriculum focusing on asset gathering and asset management will be shared with FAs both face-to-face and online or via phone calls this year, says Bill Morrissey, senior vice president of advisory consulting at LPL. “We do a lot remotely,” he adds, “in addition to our many regional and other face-to-face events.”

Some of these events include full-day sessions for advisor development that involve outside experts and three-day leadership forums that concentrate on the exchange of “best practices.” Last year, about 2,400 advisors attended in-person events as part of LPL’s city tours, and roughly 1,200 reps participated in certain other business-development programs.

LPL also has compiled a series of coaching classes and practice-management tips, which it has made into DVDs for advisors, according to Putnam.

April 2006


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