Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Industry Spotlight > Broker Dealers

LPL Adds Service Hours for Reps

Your article was successfully shared with the contacts you provided.

Due to the current pandemic, LPL Financial says it is adding service hours to help its affiliated independent financial advisors serve investor clients starting Saturday. The new hours include weekend service from 10 a.m. to 2 p.m. Eastern time and longer weekday hours from 8 a.m. to 9 p.m. until further notice.

Responding to positive feedback about the move on social media, Andy Kalbaugh, LPL’s head of national sales and consulting, said in a Tweet on Friday: “Very kind. I am really humbled by the efforts a lot of people are making. These times will define us. @LPL we are trying our very best to make a difference in peoples lives. More to follow!”

The independent broker-dealer, which works with about 16,500 advisors, also set up an emergency response team focused on contingency and continuity planning tied to the coronavirus.

“As the situation continues to evolve, this team will ensure we act nimbly, and flex our plans to any new information,” according to a statement posted online.

Some 70% of employees are working from home as of Wednesday. In addition, the IBD says it has limited access to its office locations for all visitors and ended all business travel.

Three advisor conferences set for March and April have been canceled or postponed.

LPL also has begun moving work from one office location to another to check that it can support advisors if “localized disruption events” were to occur.

Is offices now include hand sanitation stations, and it has made some changes to food service. “We’ve also altered our workspaces to ensure social distancing,” it explained. 

The firm has created COVID-19 resource pages online for advisors and employees. It’s also sharing regular market and other updates with them, including summaries of steps being taken by President Donald Trump, Congress and governors.

— Check out Succession Planning in a Pandemic: 6 Steps to Take Now on ThinkAdvisor.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.