LPL Financial has added benchmarking and reporting tools developed by Fiduciary Benchmarks to its LPL Retirement Partners tool suite, the firm announced Sept. 28.
“We chose Fiduciary Benchmarks for the quality of its data and process as well as for the ability to integrate the content into our tool suite,” said Christina Marschinke, LPL vice president, Retirement Partners product development, in a statement. “We made that a focus because our advisors consistently let us know that they value seamless integration of technology solutions so that they can operate their businesses more efficiently.”
Fiduciary Benchmarks offers a complete suite of tools designed to serve the retirement plan business in managing risk, helping to improve participant outcomes and evaluating service providers. The company has also introduced the Retirement Outcomes Evaluator, an interactive plan design modeling tool that helps plan sponsors evaluate the impact of plan design features on participant retirement outcomes.
“LPL is the first broker-dealer to make Fiduciary Benchmarks’ full suite of services available to its clients and is also the first broker-dealer to provide the Retirement Outcomes Evaluator,” added Tom Kmak, CEO, Fiduciary Benchmarks. “We are excited to be able to provide our comprehensive suite of services and resources to LPL-affiliated advisors and plan sponsors to help enhance their clients’ business and grow their client base.”
Currently, more than 700 LPL advisors, plan sponsors and support staff are using the tool suite.
