LPL Financial is investing $50 million to update its advisor compensation platform with artificial intelligence-powered forecasting and multi-custody tracking, as well as more analytics, to add “clarity and intelligence to every payout,” it said during this week’s Focus 2025 conference.
The independent broker-dealer, which works with over 29,000 financial advisors, also plans to spend $30 million to make upgrades in trade processing, asset handling and proposal tools.
“We’re running right toward your biggest problems — and finding solutions,” said Matt Audette, LPL's president and chief financial officer.
In terms of advisors payouts, its upgrades aim to help simplify compensation information for advisors, who have "to navigate a maze of systems and spreadsheets just to understand how they're paid," according to Gary Carrai, the chief product officer.
"That means transforming raw data into actionable insights, using AI to forecast earnings and flag missed opportunities, and delivering a customizable dashboard that adapts to each advisor's business,” Carrai said in a statement shared with ThinkAdvisor.
“With deep analytics and comprehensive investment tracking, we're not just showing advisors what they earned — we're helping them understand why and how to earn more," he added.
Other technology changes include more AI tools for meeting management and preparation work that sync with the firm’s CRM systems and highlight client details — “potentially saving advisors 30-45 minutes per client meeting and over 72,000 hours across the platform,” according to LPL.
LPL is also making platform enhancements to its ClientWorks Rebalancer, for instance, to support real-time model management and trade execution. Plus, the platform’s planning tool WealthVision Essentials, built with eMoney, is being “fully integrated to bring financial planning into every advisor-client conversation.”
In wealth management, technology updates include a pilot program for cash management accounts to bridge short-term cash flow with long-term investment. This program will be added to ClientWorks and supported by a service center.
The firm also expects to introduce its own securities-backed lending solution in 2026. In addition, LPL Research is rolling out new equity and fixed income separately managed accounts supported by 40 investment professionals managing $85 billion in assets.
(Credit: Shutterstock)
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.