LPL Financial (LPLA), the largest independent broker-dealer in the U.S., announced Monday a college internship program, developed in partnership with Private Advisor Group, one of the largest firms on its hybrid RIA platform.
This is a pilot program that LPL may consider expanding to other advisor offices, says LPL spokesman Peter Gilchrist, and it will begin with about 20 undergraduate students at Villanova University in Pennsylvania.
Abby Salameh at Private Advisor Group told ThinkAdvisor her firm hopes to work with at least 100 interns during 2016 and get the program up and running as soon as winter break though that start time may be too ambitious.
She said business school students studying finance or economics would likely be best suited for the program.
“The program is designed to provide students with the skills necessary to quickly become a valuable asset for the financial advisor offices … looking to further embrace LPL’s digital offering and increase office efficiency,” said Jen Gloss, senior vice president of client experience and training at Private Advisor Group.