LPL Financial Partners with SUBSCRIBE to Revamp Alternative Investment Operations

In a significant shift towards modernization in the finance sector, LPL Financial has announced its collaboration with SUBSCRIBE, a premier operating system for alternative investments. This partnership aims to overhaul LPL's alternative investment platform, offering unprecedented functionality for over 28,000 financial advisors and their clients.

Transforming Investment Workflows

SUBSCRIBE provides a comprehensive solution that digitizes the investment lifecycle, seamlessly connecting fund managers, institutional investors, and wealth management firms. With this new collaboration, LPL is set to enhance its operational capabilities, integrating compliance controls, advisor education, and investment workflows onto a single platform.

Aneri Jambusaria, Managing Director and Head of Wealth Management at LPL Financial, expressed enthusiasm for the partnership, stating, "We have been looking to elevate the advisor and client experience to set them up for success when allocating to alternatives... SUBSCRIBE's cutting-edge technology platform delivered a cross-functional suite that was unmatched."

Large Scale Implementation

LPL Financial, serving more than 8.0 million investors and managing over $1.8 trillion in assets, recognizes the need for a robust platform that can handle the intricacies of alternative investments. The integration of SUBSCRIBE's open-architecture platform allows LPL's advisors to explore a curated range of investment options, including private equity, hedge funds, and real estate, all from a consolidated source.

The new platform not only simplifies the investment process for advisors but also ensures compliance through innovative monitoring tools developed by SUBSCRIBE. This functionality is designed to assist LPL's compliance professionals in performing real-time monitoring, maintaining regulatory standards, and ensuring suitability for each investment.

Rich Steinmeier, LPL's CEO, mentioned during the 3Q 2024 Earnings Call that expanding their alternative investment offerings was vital for adapting to the changing needs in the industry, particularly from wirehouse and regional advisors. He noted significant progress in creating a world-class platform, transitioning LPL's current capabilities with the new investment order entry system launched in Q2 2024.

Commitment to Excellence

Both LPL and SUBSCRIBE emphasize a shared commitment to innovation. Kate Winters, Senior Vice President of Investment Product Management at LPL, stated, "What attracted us to SUBSCRIBE was the technology leadership and innovation they have demonstrated."

This partnership forms a solid foundation towards enhancing the financial advisory sector, enabling wealth management professionals to deliver superior services to clients while maintaining a high level of compliance and control. SUBSCRIBE, which empowers the management of private market investments, enhances LPL’s capabilities by integrating smoothly with existing software ecosystems.

By modernizing the sometimes archaic processes of alternative investments, this collaboration will undoubtedly enhance advisor experiences, streamline workflows, and ultimately improve investor outcomes.

Looking Forward

As the landscape of alternative investments continues to evolve, LPL Financial’s choice to partner with SUBSCRIBE signals a robust response to the growing demands for efficiency, transparency, and compliance in the investment community. The technology offered by SUBSCRIBE supports over $6 trillion in private market assets, providing LPL advisors with the tools necessary to navigate complex investment environments confidently. This continued evolution of LPL's offerings positions them well for future challenges and opportunities in the wealth management arena.

For further details on LPL Financial and its partnership with SUBSCRIBE, visit SUBSCRIBE's official page for more information.