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LPL Eyes Private Wealth Services

LPL Financial executives have outlined the firm’s plans to move into the private wealth market. So reports

LPLAt LPL’s recent Investor and Analyst Day, CEO Dan Arnold touted the growth opportunity from building out investment and banking services to high-net-worth clients and within wider organizations, such as insurance companies’ wealth management programs.

Rich Steinmeier, managing director and divisional president, business development of LPL, said that the firm’s recent expansions of its capabilities “are exactly to the spot of what is needed to serve those high-net-worth segments” of existing advisors and “ultimately ... launch into the private wealth market.”

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