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LPL Financial Strengthens Partnership with SS&C for Alternatives

In a significant enhancement to its operations, LPL Financial Holdings, Inc. has announced an expanded collaboration with SS&C Technologies Holdings, Inc. This strategic partnership aims to bolster LPL's growing retail alternatives business, a sector that has seen increasing interest and demand from investors seeking diverse investment options.

LPL, known for its robust support of financial advisors, plans to utilize SS&C's ALTSERVE™ platform to streamline its alternative investment processes. Cheri Belski, Executive Vice President of Investment Management Solutions at LPL, emphasized that this integration is crucial to optimizing the customer journey for investment advisors. It marks a pivotal step in offering enhanced services and broader access to alternative products.

Enhancing the Alternatives Investment Experience

LPL Financial aims to improve the experience for its advisors and their clients through several key operational enhancements:

• - Streamlined Onboarding: The integration will facilitate the ability to onboard and transfer a wider array of alternative investment positions directly under LPL's custody, making it easier for advisors to manage their clients' portfolios.
• - Expanded Transfer Capability: With the new setup, LPL will enhance its ability to process both taxable and tax-exempt registrations, allowing for more comprehensive investment management.
• - Accelerated Transaction Processing: The partnership allows for faster execution of subscriptions, redemptions, transfers, distributions, and capital call processing. This rapid response capability will significantly improve client satisfaction and engagement.
• - Improved Valuation Accuracy: By ensuring timely and precise position valuations, the new framework aims to enhance transparency in account statements, giving clients better insights into their investments.

As LPL seeks to enhance its alternatives business through the introduction of LPL Alts Connect, the maintenance of a robust technological backbone provided by SS&C will be critical. The investment firm is dedicated to improving education and awareness regarding alternative investments among its advisor base, empowering them to make informed decisions.

The Role of SS&C Technologies

Nicole Greene, who heads Global Investor and Distribution Solutions in the U.S. for SS&C, expressed excitement about the deepened relationship with LPL Financial. She highlighted SS&C's extensive capabilities in creating solutions tailored to the complex needs of alternative investment processing and brokerage. Greene’s team is set to offer LPL the required expertise to navigate the intricacies involved in managing alternative investments more effectively.

Founded in 1986, SS&C has established itself as a leading provider of software and services for both the financial services and healthcare sectors. Their experience and technology will be instrumental in helping LPL grow and streamline its operations strategically.

About LPL Financial

LPL Financial is one of the fastest-growing wealth management firms in the United States, serving nearly 29,000 financial advisors and supporting approximately 1,200 financial institutions. With a strong focus on advisor growth, LPL provides a diverse range of investment solutions, technological tools, and practice management services. The firm manages approximately $1.7 trillion in assets on behalf of nearly 6 million clients. Their mission includes offering flexible business models and essential resources that empower financial advisors to operate effectively.

For more about LPL Financial and its offerings, the company can be accessed online at www.lpl.com.

Conclusion

LPL Financial's new integrations and partnerships signify a critical evolution in its approach to serving clients within the rapidly evolving landscape of alternative investments. With SS&C’s innovations now forming a crucial part of their operational strategy, both companies are poised to lead in this dynamic market, ensuring that advisors have the capabilities necessary to deliver exceptional service.