New York Life Retirement Plan Services will allow its plan sponsors served by LPL affiliated advisors to access LPL’s Worksite Financial Solutions platform. Launched earlier this year, LPL’s worksite platform enables employer-based retirement plan participants to receive individualized financial advice and education throughout their employment longevity and beyond. To set the foundation for custom financial advice, New York Life plans to provide LPL a daily participant level data feed in early 2014 upon request from the plan sponsor.
“This will enable us to offer the Worksite Financial Solutions platform to our New York Life plan sponsors, including a number of our existing $100M+ plans,” says Barbara Delaney of Stone Street Equity, LLC, and a retirement advisor registered with LPL. “The interest level is higher than we anticipated, and we expect the response will be similar for our other plan clients, since sponsors love the concept.”
In addition to tailored advice and education, the Worksite Financial Solutions Platform enables participants to engage directly with a financial advisor — whether online, in person of over the phone —for a most unique financial planning experience.
