LPL Financial gave details on the technology updates it plans to roll out as part of its $1 billion investment in advisor services and related efforts by year-end or early next year.
It announced the efforts during Focus, its online conference being attending this week by some 10,000 advisors and 3,000 other guests.
“We will invest in our capabilities to enrich how you are engaging with your clients [by] … streamlining and digitizing your workflows through ClientWorks and expanding the investment content on our advisory platforms while also lowering the cost,” Dan Arnold said Wednesday.
Building on that talk, Chief Investment Officer Burt White — via a movie-themed presentation Thursday entitled “Stars Win” — explained several improved tools set to launch this year.
“We need to do a lot more than just apply digital lipstick to our businesses,” White said. The industry’s tech adoption, he explained, “is OK but not where it needs to be … to run a more dynamic practice.”
After discussing the success of some popular movie sequels and the transition of actor Frank Oz from being the voice of Miss Piggy to doing so for Jedi Master Yoda, he urged advisors to think broadly about how they can reshape their practices.