LPL Financial taps Slack for adviser communications

LPL Financial taps Slack for adviser communications
The partnership builds on the broker-dealer's goal to transform its legacy technology into modern tools for advisers
AUG 19, 2020

LPL Financial announced Tuesday it partnered with the business messaging app Slack as its next communication platform to be rolled out to the firm’s 17,000 financial advisers.

With no end in sight to remote work environments, the partnership is an effort to speed up correspondence for advisory firms via a channel-based messaging platform that works on any interface from desktop to mobile, according to the announcement

LPL will introduce Slack to its advisers throughout its Focus 2020 event this week, according to a company spokesperson. Following the introduction, the firm will then onboard advisers to the tool in waves. 

Slack will only be available for advisers to communicate with others within their office, not with investor clientele, the spokesperson confirmed. 

“Teams are working remotely more than ever,” said Burt White, LPL Financial managing director and chief investment officer in a statement. “Slack is an ideal solution to bring teams together in this virtual environment, making it seamless to operate in support of their clients, while increasing the digital capabilities that will be the driving force of the advisor practice of the future.”

In June, LPL Financial announced that the firm is revamping its service center and user experience for its network of advisers as the broker-dealer undertakes a “major modernization” of its technology, according to LPL managing director Dayton Semerjian. 

Most recently, the firm introduced live chat, call back requests and interactive voice response routing as all new tools to enhance LPL Financial’s ClientWorks platform.

Latest News

Bridgewater's flagship hedge fund surges amid volatile markets
Bridgewater's flagship hedge fund surges amid volatile markets

The firm's flagship fund, which invests in stocks, bonds, currencies, and commodities, saw accelerated gains as some peers lost ground.

ICI floats '40 Act revamp to support middle-class wealth creation
ICI floats '40 Act revamp to support middle-class wealth creation

Policy proposal offers recommendations on dual-share class funds, semi-transparent ETFs, and expanded flexibility for closed-end funds to include private market assets.

Trump-induced turbulence tests 60-40 strategy's limits
Trump-induced turbulence tests 60-40 strategy's limits

With bonds failing to provide a safety net for steeply falling stock prices, many investors are letting go of their "set it and forget it" approach.

More workers dipped into their retirement savings last year, Vanguard finds
More workers dipped into their retirement savings last year, Vanguard finds

Sneak peek into annual defined contribution plan report shows average participant balances reached an all-time high amid rising equity markets.

Decades-old will leaves fate of late actor Gene Hackman's $80M fortune uncertain
Decades-old will leaves fate of late actor Gene Hackman's $80M fortune uncertain

The iconic actor's death alongside his wife, Betsy Arakawa, leaves pressing questions about what happens next to his assets.

SPONSORED Beyond the all-in-one: Why specialization is key in wealth tech

In an industry of broad solutions, firms like intelliflo prove 'you just need tools that play well together'

SPONSORED Record growth: Interval funds emerge as key players in alternative investments

Blue Vault Alts Summit highlights the role of liquidity-focused funds in reshaping advisor strategies