LPL Financial says it has rolled out Independent Advisor Institute to link new advisors with veteran registered representatives.
As part of the program, the independent broker-dealer helps advisors identify and hire qualified associate advisors. It also subsidizes associate advisors’ compensation for the first year and provides them with structured training and development support.
“The Independent Advisor Institute is designed to help overcome the hurdle of hiring and training a new advisor, enabling LPL advisors to remain focused on their clients as they gain a resource for growth,” according to Jeffrey Czajka, vice president for corporate strategy. “In addition, it helps to secure the future of advice in the independent space.”
The next group of IAI trainees will join the program in January, and the IBD plans to grow the program next year. At the start of 2018, 20 managing advisors were paired with associate advisors, who have been receiving training, financial and other support.