LPL Financial has introduced a feature in its centrally managed advisory Model Wealth Portfolio platform that permits advisers to combine a variety of models within a client’s portfolio as long as the account’s total risk score aligns with the client’s overall account investment objective.
The risk score is determined using a risk-scoring methodology that LPL has built into the platform and that is available to any adviser using it.
Advisers can now “easily diversify across multiple strategists, as well as their own adviser sleeve models, to create a unique portfolio aligned with their client’s objectives,” the firm said in a release.
The move follows earlier dealmaking and leadership changes as the Overland Park-based hybrid RIA builds toward a nonprofit-focused institutional platform.
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