LPL Financial on Thursday announced its entrance into a strategic partnership with Wealth.com, the estate planning technology platform, joining the likes of Cetera, the Independent Advisor Alliance, Indivisible Partners and its own subsidiary Commonwealth Financial Network in deploying tech-based estate planning capabilities at scale for its advisor force.
The relationship includes enterprise licenses for LPL's 32,000-plus advisors and deployment across the firm's advanced planning team.
With a direct integration in place, LPL's advanced planning team will use Wealth.com's family office suite to support complex estate planning needs. The goal, according to the announcement, is to enable advisors to securely collaborate and share advanced cases through a direct integration in the Wealth.com platform.
More broadly, Wealth.com will provide LPL advisors with the ability to model estate plans, generate documents and work with with clients while remaining within their existing workflows.
The partnership also includes the use of Ester, Wealth.com's artificial intelligence-powered legal assistant trained on estate planning documents and language. Ester reads and interprets wills and trusts, extracting important information and visualizing it in a way that is actionable for both advisors and their clients.
Tara Popernik, LPL executive vice president of wealth planning, said in a statement that high-net-worth clients are asking for holistic advice, and estate planning is a critical piece of that puzzle.
"With Wealth.com, LPL's advisors and home office planners can analyze and illustrate client estate plans quickly and confidently, ensuring more households have an estate plan that aligns with their legacy goals," she said.
Tim White, co-founder and chief growth officer of Wealth.com, said the agreement reflects the growing importance of integrated, technology-forward estate planning in the client experience.
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