LPL Financial announced Wednesday that its Model Wealth Portfolios platform was awarded the Advisory Solutions Product of the Year by the Money Management Institute, a lobbying organization for the separate account industry.
According to LPL Financial, the award is granted to "the firm that launched the most innovative advisory platform that contributed to the growth of the industry." This year, LPL Financial was selected out of 30 nominees, all of which in turn participated in the selection process.
First launched in 2008, the company says the MWP platform is one of three LPL Financial fee-based platforms for advisors, and offers investment portfolios tailored to a range of investor preferences including risk aware, income generation and tax conscious investing.
“We congratulate LPL Financial on their receipt of the Advisory Solutions Product of the Year,” Christopher Davis, president of Money Management Institute, said in a statement. “Advisory platform innovation that directly supports greater efficiency in asset management is central to the continued growth of our industry. We are proud to support and recognize the leading companies who are building the top platforms in this space.”