LPL launches bookkeeping service for financial advisors


Financial advisory firm for individuals and independent broker LPL Financial now offers a dedicated bookkeeping service to its affiliated financial advisors.

With its new bookkeeping service offering, LPL can pair its advisors with accountants who have been trained in the industry and understand the advisors’ business needs, the company said Thursday (September 29) in a Press release.

“We recognize the complexity of the work of our advisors and the time it takes to keep the books accurately,” said LPL Services Group Executive Vice President. Aneri Jambusaria said in the press release. “Our new service is designed to save advisors time with accurate reporting from an accountant who is knowledgeable in LPL and wealth management best practices.”

The service provides LPL-affiliated advisors with dedicated support, records and categorizes their financial data, and provides up-to-date reports based on their commission statements, according to the press release.

The accounting service joins other services offered by LPL to help its advisors manage their business, with other recent additions being a para-planning service and a program that gives advisors access to an organized group of companies that can help serve wealthy clients, the statement said.

“Whether creating financial reports for the first time, transferring accounting responsibilities, or seeking inorganic business growth, we believe LPL-affiliated advisors at all stages of the business can benefit from this service,” Jambusaria said of the new accounting offering.

PYMNTS research found that “a surprisingly large number” of financial institution customers who use digital payment tools are more than willing to seek advice and personalized advice in-branch, in-person and for their more complex transactions. .

Read more: Clients turn to FIs that offer hybrid financial wellness solutions

The financial institutions that will not only survive but thrive are those that can forge long-term bonds with their customers by offering cutting-edge mobile and online digital payment technologies while integrating the human touch as part of a holistic, focused experience. on the customer, according to the “Digital Bank Tracking First», a PYMNTS and NCR collaboration.

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New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking, only 9.3% call them their primary bank.

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