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.
[More: Best model portfolios for advisers: Morningstar]
Meanwhile, DPL Financial Partners adds two annuity executives and Prime Capital Financial hires a Mid-Atlantic retirement plan consultant
Andrew Komarow pleaded guilty Thursday in federal court in Hartford to defrauding three financial services companies of close to $3.3 million.
Elsewhere, Cetera picks up a $210 million Connecticut team from MML, while Wells Fargo FiNet adds a San Diego family practice from LPL
Celebrity endorsements, $500M in claimed assets, and a state regulator stepping in.
“We needed to become a more agile and efficient organization,” said American Express CEO Stephen Squeri.
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