LPL expands retirement plan choices for affiliates

The IBD is offering a multiple-employer aggregate program that affiliates can use with small businesses and start-up plans.

Advisers affiliated with LPL Financial now have access to an expanded version of a program that provides them with retirement plan administration solutions for small businesses and start-up plans.

The expanded offering, Strategic Market Solution Plus, is a multiple-employer aggregate program that uses Lincoln Financial Group’s record-keeping platform.

“The aggregated support model helps mitigate investment fiduciary risk and creates efficiencies of scale for plan sponsors, reducing the costs and administrative tasks associated with managing retirement plans,” LPL said in a release.

The solution offers Section 3(38) investment management fiduciary services through LPL, while the Retirement Advantage (TRA) offers 3(16) administrative fiduciary services. Sponsors also can opt for payroll services through Paylocity.

[More: Outsourcing firm is helping RIAs mine 401(k) plans]

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