STRATEGIC WEALTH MANAGEMENT At-a-Glance
Advisor-Driven, Fee-Based Asset Allocation Strategy Strategic Wealth Management (SWM) is a comprehensive, open-architecture, fee-based investment platform created to help you deliver highly customized advice and exceptional service to your clients. The platform provides a foundation to help you develop successful client relationships by thoroughly understanding your clients’ long-term financial goals and offering solutions to address them. With this platform, multiple investments can be wrapped into one account with one consolidated statement for the client. Please note: The RIA firm managing the account has the fiduciary responsibility on the account. Benefits to Flexibility to customize portfolios to address each client’s unique Your financial situation Advisory Practice: Ability to create a more flexible core/satellite strategy by adding positions that complement existing holdings and fine-tuning their portfolio’s overall Designed for risk/return characteristics Clients Who: Ability to wrap multiple types of investments in one account Seek a comprehensive investment solution Have special needs or circumstances that may benefit from a customized portfolio Own highly appreciated stock and need to systematically diversify to manage portfolio risk Want to incorporate a variety of assets into a single, consolidated investment strategy Appreciate the convenience and simplicity of consolidated reporting for all their investments Key Features At-a-Glance Minimum None Account Size Investments Over 8,000 funds from more than 470 fund families; individual stocks/bonds; options; unit investment trusts (UITs); alternative investments; fee-based Guidance from variable annuities with 138 subaccounts. LPL Research LPL Research provides independent, objective, and in-depth market and economic thought leadership as well as due diligence and recommendations on asset allocation models, open-end mutual funds, exchange-traded products (ETPs), and variable annuity subaccounts.
Operations Performance Sent quarterly to you and your clients Reports Household up to 10 accounts Model Advisor-driven. Management Create and manage your own custom model portfolios or utilize pre-loaded and Rebalancing LPL Research recommended models and funds. Tools Multiple rebalancing methods available.1 Ability to set position drift tolerances and rebalancing alerts. (available for a subscription) Margin Available Premier Checking and Premier Plus available Check Writing Cash and/or securities Funding an Available for all accounts Account Direct Billing/ Flexible Billing Fees Advisor Fee No minimum; maximum of 3.00% Advisor Payout SWM: 100%* * SWM SWM II: 100% minus any transaction charges Administrative Fee2 (Please see SWM Administrative Fee) Transaction LPL reserves the right to charge you an administrative fee with respect to accounts Changes mutually agreed upon between you and LPL. Varies by investment type
Strategic Wealth Management (SWM) Transaction Charges3 Asset Type Charge Equities and Exchange-Traded Funds (ETFs) $9.00 Mutual Funds – Fully Participating $0.00 Mutual Funds – Non-Participating $26.50 Bonds $0.00 UITs $35.00 Options $25.00 1 Rebalancing may involve tax consequences. 2 You will be charged an administrative fee of 10 basis points on the contract value of any variable annuities managed within a SWM/SWM II account. 3 SWM: Clients pay transaction charges. SWM II: Advisors pay transaction charges. Contact Information RIA Service Center (800) LPL-4RIA Advisory Consulting (877) 318-6400 [email protected] There is no assurance that Strategic Wealth Management accounts are suitable for all investors or will yield positive outcomes. The purchase of certain securities are required to effect some of the strategies. Investing involves risks including possible loss of principal. Advisors should only recommend an advisory account if it is suitable for the client. Advisory accounts may not be appropriate for every client. Advisors need to understand that advisory relationships involved a higher standard of care than brokerage and typically requires an ongoing duty to provide advice and monitoring. A registered investment advisor. Member FINRA/SIPC. For financial advisor use only. Not for distribution to clients or the public. IIS-14958-0818 Tracking #1-XXXXXX
LPL Financial Approved Product List 1ST Quarter 2019 “LPL enables the independent financial advisors, banks, and credit unions with whom we partner to offer their clients truly objective, conflict-free advice. Our open-architecture platform provides our customers with access to thousands of commission, fee-based, cash, and money market products manufactured by hundreds of third-party product sponsors.” 529 Plans; Exchange Traded Funds; Mutual Funds; Offshore Mutual Funds; Offshore Investment Plans; UIT Investment Trusts; Fixed Annuities; Fixed Indexed Annuities; Variable Annuities; Disability Insurance; Long-Term Linked Benefits; Term Life Insurance; Indexed Universal Life Ins.; Universal Life Ins.; Variable Life Ins.; Single Premium Life; Whole Life; Retirement Plans; Structured Product Providers; Non-Traded REITs; Non-Traded Business Development Companies (BDCs); Non-Traded Closed End/Interval Funds; Private Equity; Exchange Traded Products; Fund-of-Hedge Funds; Managed Futures-Single & Multi Manager 529 Plans: 877-318-6400 or [email protected] State Plan Name 529 Plans: Provider AK John Hancock Freedom 529 JOHN HANCOCK AL AZ College Counts 529 Fund Advisor Plan UNION BANK & TRUST CO CT InvestEd Plan IVY IA Scholars Choice College Savings Program LEGG MASON IL IN Connecticut Higher Education Trust (CHET) HARTFORD KS Advisor ME MI Iowa Advisor 529 Plan VOYA ND NE Bright Directions College Savings Program UNION BANK & TRUST NH NJ CollegeChoice Advisor 529 Savings Plan ASCENSUS NM ADVISOR USE ONLY Learning Quest Advisor 529 AMERICAN CENTURY NextGen College Investing Plan NEXTGEN MI 529 Advisor NUVEEN Bank of North Dakota College SAVE 529 Plan ASCENSUS NEST Advisor College Savings Plan FIRST NATIONAL BANK Fidelity Advisor 529 Plan FIDELITY ADVISOR Franklin Templeton 529 College Savings Plan FRANKLIN TEMPLETON Scholar’s Edge (NM) OPPENHEIMER Not all products or providers are approved in all states Accurate as of 03/31/2019
NV Putnam 529 for America PUTNAM NY New York's 529 Advisor-Guided College Savings Program JP MORGAN OH BlackRock CollegeAdvantage 529 Plan BLACKROCK ADVISORS OK Oklahoma Dream 529 ALLIANZ GLOBAL OR MFS 529 Savings Plan MFS RI College Bound Fund (Advisor-sold) INVESCO SC Future Scholar 529 College Savings Plan COLUMBIA (Advisor-sold) SD College Access 529 (Advisor-sold) ALLIANZ GLOBAL/PIMCO TX LoneStar 529 NORTHSTAR VA CollegeAmerica AMERICAN FUNDS WI Tomorrow’s Scholar 529 VOYA WV SMART 529 College Savings HARTFORD ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
Back to Page 1 Exchange Traded Products (ETFs/ETNs): 877-318-6400 or [email protected] Aberdeen Standard Investments ACSI Funds IndexIQ UBS AG London AdvisorShares Innovator Capital Ultimus Asset Services Alpha Architect Invesco United States Commodity Funds AlphaClone iShares USAA Alphamark Advisors Janus USCF Advisers ALPS John Hancock Validea American Century JP Morgan ValueShares Amplify KraneShares Van Eck Global Anfield Capital Lattice Strategies LLC Van Eck Vectors ARK Legg Mason Vanguard ArrowShares Metaurus Victory Funds Barclays Morgan Stanley Vident Financial BioShares Natixis Virtus BlackRock Northern Lights WBI BMO Global Asset Management Northern Trust Wisdom Tree Cambria Nuveen Citigroup OBP Capital- Spinnaker Columbia Management OppenheimerFunds Compass EMP Oshares Investments Credit Suisse Pacer Funds CSOP PGIM Davis Select Advisors Pimco DBX Premise Capital LLC Deutsche Bank Principal Direxion ProShares ENTREPRENEURSHARES PureFunds ETF Managers Group Quantshares ETF Series Solutions RBB FD Inc. ETF Series Trust I Reality Shares Etfis Capital LLC Reaves Asset Management Event Shares Renaissance Capital Exchange Listed Funds Saba Capital Exchange Traded Concepts Schwab FFCM SPDR S&P 500 Fidelity State Street Global Advisors First Trust Strategy FlexShares StrongVest Franklin Sustainable Wealth Management Gavekal Capital Swedish Export Global X Funds Teucrium Goldman Sachs Tortoise GraniteShares Transamerica GreenHaven Trim Tabs Hartford Two Roads Trust Highland Funds U.S. Global UBS ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
Back to Page 1 Mutual Funds: 877-318-6400 or [email protected] 361 CAPITAL 1290 1919 13D ACTIVIST AAM AB (FKA ALLIANCEBERNSTEIN) ABBEY CAPITAL ABERDEEN ABSOLUTE ACADIAN ACM ACR ADIRONDACK ADVISOR ONE ADVISORS PREFERRED ADVISORY RESEARCH AEGIS AIG AKRE AL FRANK ALGER ALLIANZGI ALPS ALPHACENTRIC ALTEGRIS AMANA AMERICA FIRST AMERICAN BEACON AMERICAN CENTURY AMERICAN FUNDS AMERICAN GROWTH AMERICAN INDEPENDENCE AMERICAN TRUST ALLEGIANCE AMG AMIDEX ANIFIELD ANGEL OAK APPLESEED AQR AQUILA ARBITRAGE ARCHER ARIEL ARIN ARISTOTLE ARROW ARTISAN ASCENDANT ASHMORE ASPEN ASSET MANAGEMENT ASTOR ATLANTIC TRUST ATLANTIC WHITEHALL AUER AUXIER AZZAD BAILLIE GIFFORD BAIRD BALTER BARINGS BARON BARRETT BBH BECK MACK & OLIVER BECKER BEEHIVE BERKSHIRE BIONDO BLACKROCK BLACKSTONE BMO BOGLE BOSTON PARTNERS BOYD WATTERSON BP CAPITAL BRANDES BRIDGEWAY ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
BRIGHT ROCK BROOKFIELD BROWN CAPITAL MANAGEMENT BTS BUFFALO CALAMOS CALDWELL & ORKIN CALVERT CAMBIAR CAMELOT CAPSTONE GROUP CARILLON CASTLE CATALYST CAUSEWAY CAVALIER CAVANAL HILL CEDAR RIDGE CENTAUR CENTERSTONE CENTRE CHAMPLAIN CHARTWELL CHASE CHESAPEAKE CHIRON CHOU CITY NATIONAL ROCHDALE CLIPPER CLOUGH CM ADVISORS CMG COGNIOS COHEN & STEERS COLUMBIA COMMERCE COMMONWEALTH COMMUNITY CAPITAL TRUST CONESTOGA CONGRESS CONVERGENCE COOK & BYNUM COPELAND COUNTERPOINT CRAWFORD CREDIT SUISSE CROW POINT CULLEN CUTLER DAVENPORT DAVIS DAY HAGAN DEAN DEARBORN PARTNERS DELAWARE DESTINATIONS DESTRA DFA (DFA APPROVED IARS DGHM DIAMOND HILL ONLY) DIREXION DODGE & COX DOMINI DOUBLELINE DREMAN DREYFUS DRIEHAUS DUNHAM DWS (FKA DEUTSCHE) EAGLE EAS EATON VANCE EDGEWOOD EMERALD EMPIRIC ENTREPRENEUR EQUINOX EURO PACIFIC ENVENTIDE EVERMORE FAIRHOLME FAM FEDERATED FIDELITY FIDELITY ADVISOR FIERA CAPITAL FIRST AMERICAN ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
FIRST EAGLE FIRST INVESTORS FIRST TRUST SERIES FIRSTHAND FMI FORESTER FORWARD FPA FRANKLIN TEMPLETON FREEDOM FRONTIER FS FULLER & THALER FUND X GABELLI GERSTEIN FISHER GLENMEDE GOLDMAN SACHS GOOD HARBOR GOODHAVEN GOTHAM GRANDEUR PARK GRANT PARK GREEN CENTURY GREENSPRING GUGGENHEIM GUIDESTONE GUINNESS ATKINSON HALLMARK TRUST HANCOCK HORIZON HANLON HARBOR HARDING LOEVNER HARTFORD HATTERAS HAVERFORD HEARTLAND HENNESSY HIGHLAND HILLMAN HODGES HOMESTEAD HORIZON HOTCHKIS & WILEY HSBC HUNDREDFOLD HUSSMAN ICON IMS INFINITY INNEALTA CAPITAL INSIGNIA INTERGRITY VIKING INTREPID INVESCO INVESTEC GLOBAL STRATEGY IRON IVA IVY JACOB JAMES JANUS HENDERSON JENSEN JOHCM JOHN HANCOCK JP MORGAN KCM KEELEY KINETICS KIRR MARBACH PARTNERS KKM KNOWLEDGE LEADERS LATEEF LAUDUS LAZARD LEADER LEGG MASON LEUTHOLD LIBERTY STREET LINDNER LISANTI LITMAN GREGORY LKCM LOCORR LONGLEAF LOOMIS SAYLES LORD ABBETT LYRICAL M.D. SASS MADISON ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
MAI MAINGATE MAINSTAY MAIRS & POWER MANNING & NAPIER MARKETFIELD MARSICO MATRIX MATTHEW 25 MATTHEWS MEEDER MERGER MERIDIAN MERK METROPOLITAN WEST MFS MIDAS MILLER MIRAE ASSET DISCOVERY MONETTA MONTEAGLE MORGAN STANLEY MOTLEY FOOL MUHLENKAMP NATIONWIDE NATIXIS NAVELLIER NAVIGATOR NEEDHAM NEIMAN NEUBERGER BERMAN NEW ALTERNATIVES NEW COVENANT NEWFOUND NICHOLAS NORTH COUNTRY NORTHCOAST ASSET NORTHEAST INVESTORS NORTHERN MANAGEMENT NORTHPOINTE NUANCE NUVEEN OAK ASSOCIATES OAK RIDGE OAKMARK OBERWEIS OLSTEIN OPPENHEIMER OPTIMUM ORINDA OSTERWEIS PACIFIC PACIFIC ADVISORS PALMER SQUARE PARADIGM PARNASSUS PAX PAYDEN PCS PEAR TREE PENSION PARTNERS PERFORMANCE TRUST PERKINS PERMANENT PERRITT PGIM (FKA PRUDENTIAL) PIA PIEDMONT PIMCO PINEBRIDGE PINNACLE PIONEER PMC PNC POLARIS POLEN CAPITAL POPLAR FOREST PRAXIS PRIMECAP ODYSSEY PRINCETON PRINCIPAL PRIVATE CAPITAL PROBABILITIES PROFESSIONALLY MANAGED MANAGEMENT PORTFOLIOS PROFUNDS PROFUNDS/ACCESS FUNDS PROVIDENT ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
PSI PUTNAM PZENA QUAKER RATIONAL RBC REDWOOD REYNOLDS RICE HALL JAMES RIVER CANYON RIVERBRIDGE RIVERNORTH RIVERPARK RMB ROYCE RUSSELL SA FUNDS (SA APPROVED IARS SALIENT ONLY) SAMMONS LIVEWELL SARATOGA SATUIT SCHNEIDER SCHRODER SCHWAB SCHWARTZ SEAFARER SEGALL BRYANT & HAMILL SEI SELECTED SEMPER SENTINEL SHELTON SHENKMAN SHORT TERM INVESTMENT SIERRA SIT TRUST SKYBRIDGE SMEAD SNOW CAPITAL SOUND MIND INVESTING SOUNDSHORE SSGA STADION STEBEN STERLING CAPITAL SWAN SYMMETRY PANORAMIC SYMONS T ROWE PRICE TCW THIRD AVE THOMAS WHITE THOMPSON THORNBURG THRIVENT TIAA CREF TIMOTHY PLAN TOCQUEVILLE TOEWS TORRAY TORTOISE TOUCHSTONE TOWLE TRANSAMERICA TS&W TURNER TWEEDY BROWNE TWO OAKS UBS US GLOBAL INVESTORS USA MUTUALS USAA VALUE LINE VAN ECK VANGUARD VERTICAL VICTORY VIRTUS VIVALDI VOYA WASATCH WASMER WE DONOGHUE POWER WEITZ WELLS FARGO WESTWOOD WILLIAM BLAIR ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
WILMINGTON WILSHIRE WINTERGREEN WIRELESS WORLD YORKTOWN ZACKS Back to Page 1 Offshore Mutual Funds: 877-318-6400 or [email protected] *Business can only be done on an unsolicited basis* AB OFFSHORE FIDELITY ADVISOR WORLD MERIAN GLOBAL ALGER OFFSHORE FRANKLIN TEMPLETON OFFSHORE MFS MERIDIAN OFFSHORE AMUNDI PIONEER OFFSHORE JANUS OFFSHORE MORGAN STANLEY SICAV OFFSHORE EATON VANCE INTERNATIONAL LEGG MASON GLOBAL PUTNAM WORLD TRUST II Back to Page 1 Offshore Investment Plans: 800-877-7210, ext. 7800 or [email protected] Knighthead • Safe Harbour 3, 5, 7 & 10 (MYGAs) Sanlam • Safe Harbour Select 5 & 7 (FIAs) • Safe Harbour Immediate Annuity (SPIA) • Sanlam Global Investment Plan Back to Page 1 UIT: Investment Trusts: 877-318-6400 or [email protected] First Trust Invesco Smart Trust Guggenheim AAM Back to Page 1 Fixed Annuities: 800-877-7210, ext. 7800 or [email protected] AIG • American Pathway Fixed 4, 5, 7 ADVISOR USE ONLY • American Pathway Immediate Annuity (SPIA) • American Pathway SolutionsMYG Annuity • American Pathway Deferred Income Annuity (DIA) Not all products or providers are approved in all states Accurate as of 03/31/2019
AMERICAN NATIONAL • Assured Edge Income Builder BRIGHTHOUSE • Palladium Immediate Annuity (SPIA) • Palladium MYG & NY CUNA MUTUAL • WealthQuest Citadel Diamond Series 5, 7 & NY FORETHOUGHT / GLOBAL ATLANTIC • Fixed Annuity FA GREAT AMERICAN • Guaranteed Income Builder (DIA) GUARDIAN • SPIA INTEGRITY / WESTERN & SOUTHERN • MEMBERS SPIA • MEMBERS Future Income Annuity (DIA) JACKSON NATIONAL • SecureFore 3, 5, 7 LIBERTY MUTUAL • ForeCertain Income Annuity (SPIA and DIA) LINCOLN NATIONAL • American Freedom Stars and Stripes 5 MASS MUTUAL • American Freedom Stars and Stripes 7 • Guaranteed Income Annuity III (SPIA) • Guardian SecureFuture Income Annuity (DIA) • MultiVantage & NY • New Momentum II & NY • SPDA Series II & NY • Annuiquest & NY (bank channel) • Multi-Rate (bank channel) • Acclaim (bank channel) • Smart Step & NY (bank channel) • IncomeSource SPIA • Action One • Bonus MAX One • MAX One, XL • Super MAX, XL • Freedom Series Balance Annuity • Freedom Series Foundation Annuity • Insured Income Immediate Annuity (SPIA) • Lincoln MYGuarantee Plus & NY • Deferred Income Solutions (DIA) • Stable Voyage • RetireEase (SPIA) • RetireEase Choice (DIA) ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
NATIONWIDE • Best of America Platinum Edge • Platinum V Plus NEW YORK LIFE • Quatro Select • Trio Select+ PACIFIC LIFE • Income Promise Select (SPIA) PRINCIPAL • Clear Income Fixed Annuity (new sales temporarily suspended) PROSPERITY LIFE / SBLI • Secure Term Choice Fixed Annuity II PROTECTIVE • Secure Term MVA Fixed Annuity II RELIANCE STANDARD • Guaranteed Future Income II (DIA) SAMMONS RETIREMENT • Guaranteed Lifetime Income Annuity II (SPIA) SOLUTIONS STANDARD • Pacific Expedition & NY • Pacific Frontiers II & NY SYMETRA • Pacific Income Provider Immediate Annuity (SPIA) • Pacific Secure Income (DIA) • Deferred Income Annuity (DIA) • Income Annuity (SPIA) • Principal Preferred Series • Principal Select Series Annuity SM • Select Choice 3, 5 & 7 • ProSaver Secure II NY • SecureSaver • ProPayer Income Annuity (SPIA) • Apollo – MVA & SP • Eleos – MVA & SP • LiveWell Guarantee Annuity • Focused Growth Annuity • Tailored Income Annuity (SPIA) • Stable Income Annuity (SPIA) • Symetra Custom 5 Fixed Annuity & NY • Symetra Custom 7 Fixed Annuity & NY • Advantage Income Immediate Annuity (SPIA) • Freedom Income Annuity (DIA) ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
Back to Page 1 Fixed Index Annuities: 800-877-7210, ext. 7800 or [email protected] AIG • Power Index Plus • Power Index Plus Income ALLIANZ • Power Index Annuity 7yr (NY only) • AG Choice Index 10 AMERICAN NATIONAL FORETHOUGHT / • 222 GLOBAL ATLANTIC • 365I • Core Income 7 GREAT AMERICAN • Strategy Indexed Annuity PLUS 7, 10 & NY INTEGRITY / WESTERN & SOUTHERN • ForeAccumulation II 5, 7 & 10 JACKSON NATIONAL • ForeIncome II 5, 7 & 10 LINCOLN FINANCIAL • AssuranceSelect 5 NATIONWIDE • AssuranceSelect 5 Plus PACIFIC LIFE • AssuranceSelect 7 PROSPERITY LIFE / SBLI • AssuranceSelect 7 Plus PROTECTIVE • Indextra 7 & 10 RELIANCE STANDARD • Elite Choice 10 SAMMONS RETIREMENT • Elite Choice Rewards 10 SOLUTIONS • MarketProtector 5, 7 and 10 • Covered Choice 5 • OptiChoice 5 & NY • New Heights 10 • Peak 7 • Pacific Index Edge 5, 7, 10 • Safe Solution 5 & 7 • Indexed Annuity II 5 & 7 • Indexed Annuity II NY 5 & 7 • Income Builder 7 • Asset Builder 5 & 7 • Keystone Index 5, 7, 10 • LiveWell Preferred FIA 5, 7, 10 ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
SYMETRA • Edge Plus 5 & 7 TRANSAMERICA • Edge Premier 10 • Symetra Income Edge • Secure Retirement Index II 5 & 10 Back to Page 1 Variable Annuities: 800-877-7210, ext. 7800 or [email protected] AIG - AMERICAN • Polaris Platinum III & NY GENERAL • Polaris Select Investor Annuity & NY (non-qualified funds only) ALLIANZ • Index Advantage & NY AXA EQUITABLE • Index Advantage NF • Vision B & NY BRIGHTHOUSE FORETHOUGHT / • Accumulator 13A Series B GLOBAL ATLANTIC • Investment Edge 15.0 (non-qualified funds only) INTEGRITY (WESTERN & • Investment Edge Select 15.0 (non-qualified funds only) SOUTHERN) • Retirement Cornerstone 17 Series B JACKSON NATIONAL • Structured Capital Strategies Plus LIFE • Structured Capital Strategies 16 ADV (Fee-based VA) LINCOLN • Series VA • Class VA (NY only) • Shield Level Select 6yr & NY • ForeRetirement IV B Series • Integrity Pinnacle V & National Integrity Pinnacle V (NY) • VAROOM • Elite Access B Series & NY (non-qualified funds only) • Perspective II & NY • Perspective Advisory II (Fee-based VA) • American Legacy Signature 1 & NY • American Legacy Signature 2 & NY • American Legacy Shareholder’s Advantage I-Share & NY (Fee-based VA) • ChoicePlus Signature 1 & NY • ChoicePlus Signature 2 & NY • ChoicePlus Assurance I-Share & NY (Fee-based VA) • Investor Advantage Series B & NY (non-qualified funds only) • Investor Advantage Series C & NY (non-qualified funds only) ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
NATIONWIDE • Destination Freedom+ B (non-qualified funds only) • Destination Freedom+ C (non-qualified funds only) NEW YORK LIFE • Destination Navigator 2.0 PACIFIC LIFE • Destination Architect 2.0 (Fee-based VA) PROTECTIVE • Premier VA – FP Series PRUDENTIAL • Pacific Choice (5-yr) & NY SAMMONS RETIREMENT • Pacific Odyssey (Fee-based VA) SOLUTIONS TRANSAMERICA • Protective VA B Series II & NY • Protective VA Investor Series (non-qualified funds only) • Premier Advisor & NY (Fee-based VA, SAM only) • Premier Investment B & NY (non-qualified funds only) • Premier Investment C & NY (non-qualified funds only) • Premier Retirement B & NY • Prudential Defined Income & NY • LiveWell VA (non-qualified funds only) • Variable Annuity B & NY Back to Page 1 Disability Insurance : 800-877-7210, ext. 7800 or [email protected] AMERITAS • Non-Cancelable/Guaranteed Renewable • Business Overhead EXCEPTIONAL RISK ADVISORS • Lloyd's of London - High Risk MASSMUTUAL • Individual Disability MUTUAL OF OMAHA • Business Overhead / BuySell PRINCIPAL • Individual Disability • Business Overhead Expense • Critical Illness • Individual DI • Business Overhead / BuySell / Key Person ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
Back to Page 1 Long Term Care Insurance – Linked Benefit: 800-877-7210, ext. 7800 or [email protected] GLOBAL ATLANTIC • ForeCare (Fixed Annuity with LTC) LINCOLN FINANCIAL • MoneyGuard (Life with LTC) MASSMUTUAL • VA with LTC NATIONWIDE ONEAMERICA/STATE LIFE • Care ChoiceOne (Life with LTC) PACIFIC LIFE • CareMatters – (Life with LTC) SECURIAN • AssetCare I, II, III, IV (Life with LTC) • AnnuityCare, II, III (Fixed Annuity with LTC) • Indexed AnnuityCare (Fixed Indexed Annuity with LTC) • Premier Care (Life with LTC) • SecureCare (Life with LTC) Back to Page 1 Term Life Insurance: 800-877-7210, ext. 7800 or [email protected] AMERICAN GENERAL • Select -A-Term Series AMERICAN NATIONAL • Signature Term 10, 15, 20 , 30 AXA • ART - One Year Term BRIGHTHOUSE FINANCIAL • Term Series 10, 15, 20 • ART, Term One JOHN HANCOCK • Guaranteed Term 10, 15, 20, 30 LEGAL & GENERAL AMERICA • JH Term 10, 20, 30 LIBERTY LIFE • Survivorship Term LINCOLN NATIONAL • Term with Vitality 10, 20, 30 • SmartProtect Term with Vitality 10, 15, 20 • OptTerm 10, 15, 20, 25, 30, 35, 40 • ART • Term: 10, 15, 20 • Life Elements 10, 15, 20, 30 • TermAccel 15, 20, 30 ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
MASS MUTUAL • Vantage Term 10, 20 • Annual Renewable Term MIDLAND NATIONAL (No NY) • Premier Term 10, 15, 20, 30 MUTUAL OF OMAHA / • Exec Term 10, 15, 20 UNITED OF OMAHA NATIONWIDE • Term Life Express 15, 20, 30 • Term Life Answers 15, 20, 30 PACIFIC LIFE • YourLife GLT 10, 15, 20, 30 PENN MUTUAL PRINCIPAL • Prime Term 10, 15, 20, 30 PROTECTIVE • Promise Term 10, 15, 20, 30 • ART PRUDENTIAL • Guaranteed Term 10, 15, 20 SECURIAN SYMETRA • Term 10, 15, 20, 30 TRANSAMERICA • Custom Choice UL (Term/UL) 10, 15, 20, 25, 30 VANTIS • Classic Choice Term 10, 15, 20, 30 • Survivorship Term • Term Essential: One, 10, 15, 20, 30 • Term Elite 10, 15, 20, 30 • Term ROP 20, 30 • Advantage Term Elite Select 5, 10, 15, 20, 30 • Term 10, 15, 20, 30 • Trendsetter 10, 15, 20, 30 • Trendsetter Super YRT • Level Term 10, 15, 20, 25, 30 • Super EZ Term • Term ROP • Children's Term ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
Back to Page 1 Indexed Universal Life Insurance: 800-877-7210, ext. 7800 or [email protected] ALLIANZ • Life Asset Pro+ Elite AMERICAN GENERAL • Life Asset Pro+ AMERICAN NATIONAL • Life Pro Survivorship+ AXA JOHN HANCOCK • Value+ Protector LINCOLN NATIONAL • Max Accumulator+ MIDLAND NATIONAL MUTUAL OF OMAHA • Signature UL NATIONWIDE • Signature Plus IUL PACIFIC LIFE • Bright Life Protect / Grow • Bright Life Survivor PENN MUTUAL PRINCIPAL • IUL – Accumulation PROTECTIVE • IUL – Protector • Protection SIUL • Wealth Accumulate IUL • Wealth Preserve IUL • Wealth Preserve SIUL • XL-CV, XL-DB, XL-EC3 • Legacy Guaranteed SIUL • Income Advantage IUL • Life Protection Advantage IUL • Indexed UL Protector II • Indexed UL Accumulator II • Performer LT2 IUL • Pacific Indexed Protector (PIP) • Pacific Indexed Accumulator • Discovery Xelerator / Protector IUL • Pacific Estate Preserver 2 • Accumulation Builder Select IUL • Survivor Plus Select IUL • Indexed UL Accumulation • IUL Flex • Indexed Choice UL ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
PRUDENTIAL • UL Index Advantage UL SECURIAN • PruLife Founders Plus UL Transamerica • PruLife Survivorship Indexed UL • Eclipse Indexed UL • Eclipse Survivor Pro IUL • Omega Builder IUL (NY Only) • Orion IUL • Foundation IUL Back to Page 1 Current Assumption & Guaranteed Universal Life Insurance 800-877-7210, ext. 7800 or [email protected] AMERICAN GENERAL AMERICAN NATIONAL • Secure Lifetime GUL II AXA • Secure Survivor GUL II BRIGHTHOUSE FINANCIAL • Executive UL GENWORTH - • Signature GUL Unapproved* JOHN HANCOCK • Athena Universal Life • Athena Survivorship UL LEGAL & GENERAL AMERICA • Premier Advantage UL (PAUL) LINCOLN NATIONAL • Life Ready UL II Conversion (conversions by exception only) MASSMUTUAL MIDLAND NATIONAL • Accumulation UL • Protection UL • Protection SUL • ULG / SULG • Premier Life • LifeStep UL • Current UL • Guaranteed UL • Guaranteed SUL • ULGuard/ SUL Guard • UL Navigator • UL-DB • UL-CV • EGUL ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
MUTUAL OF OMAHA • GUL NATIONWIDE • Accum UL Plus / Accum UL Answers PACIFIC LIFE • YourLife Guaranteed UL PENN MUTUAL • YourLife Current Assumption UL • YourLife NLG SUL PRINCIPAL • Versa Flex NLG & Flex Pro PROTECTIVE • Prime UL NLG • Flex Protector PRUDENTIAL MINNESOTA • Guaranteed Protection UL LIFE/SECURIAN • Estate Protection UL SYMETRA TRANSAMERICA • UL Flex VOYA • Accumulation UL • SUL Protector • Universal Life Provider • Pro Classic UL • Advantage Choice UL • Survivor UL • UL Plus / UL Protector • Essential UL • Founder's Plus • SUL Protector • Accumulator UL • Eclipse Survivor Pro • Current Assumption UL • Guaranteed UL • TransACE CV • UL-CV • UL-ECV • SUL ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
Back to Page 1 Variable Life Insurance: 800-877-7210, ext. 7800 or [email protected] AXA JOHN HANCOCK • Incentive Optimizer LINCOLN NATIONAL • Incentive Legacy MIDLAND NATIONAL • COIL NATIONWIDE • Accumulation VUL & SVUL NEW YORK LIFE • Protection VUL & SVUL PACIFIC LIFE • COLI PENNMUTUAL PRINCIPAL • VULOne / SVULOne (G) PROTECTIVE • Asset Edge VUL PRUDENTIAL SECURIAN • VUL- DB • VUL- CV • PVUL • YourLife Accumulation VUL • YourLife Protection VUL • YourLife Survivorship VUL • Future Exec VUL (COLI) • COLI VUL • Select Exec VUL • Select VUL – Accumulation • Prime VUL • Select SVUL • Diversified Growth VUL • Variable Survivorship Growth • VUL Income III & NY • Executive VUL - COLI • Strategic Objectives VUL • Investors Choice VUL (G) • Custom Premier II • VUL Protector (G) • Accumulator VUL • Defender VUL (G) ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
Back to Page 1 Single Premium Life Insurance: 800-877-7210, ext. 7800 or [email protected] GREAT WEST LIBERTY • Family Legacy SPUL MIDLAND NATIONAL • Estate Maximizer Next Generation SPWL SYMETRA • IUL Heritage VANTIS • Successor SPUL WESTERN & SOUTHERN • SPWL EstateWise • Legacy Forward II SPUL Back to Page 1 Whole Life Insurance : 800-877-7210, ext. 7800 or [email protected] AMERICAN NATIONAL MASSMUTUAL • Affinity 7 WL MUTUAL OF OMAHA • Signature WL NATIONWIDE • Legacy Series PENN MUTUAL • Survivorship WL SECURIAN VANTIS • Whole Life Final Expense • Children Whole Life • Accidental Death (Guaranteed) • YourLife WL 20, 100 • Guaranteed Choice WL • Secure Accumulator WL • Secure Protector WL • Whole Life • Guaranteed Golden ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
Back to Page 1 American Funds Retirement Plans: 800-877-7210 ext. 6515 Aspire ADP Ascensus Ameritas (includes former AXA Guardian product) BPAS CUNA Mutual Group Empower (includes former Great West and Putnam Products) Fidelity Advisor John Hancock (includes former New Lincoln Financial MassMutual (includes former York Life products) Hartford products) Mutual of Omaha Matrix Mid Atlantic Ohio National Nationwide Newport Group (includes former Paychex Daily/Access product) Securian OneAmerica Transamerica (includes former Principal Pai Diversified product) Security Benefit Voya Valic Prudential Standard Vanguard (Small plan products offered through Ascensus) Back to Page 1 Structured Product Providers: 800-877-7210, ext. 6300 Barclays – CDs & Notes BMO Harris Bank – CDs only BNP Paribas – customs notes only CITI – CDs & Notes Goldman Sachs – CDs & Notes Credit Suisse – Notes only JP Morgan – CDs & Notes Morgan Stanley – CDs & Notes HSBC – CDs & Notes Wells Fargo – CDs & Notes Union Bank – CDs only ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
Back to Page 1 Non-Traded Real Estate Investment Trusts (REITs): 877-318-6400 or [email protected] BLACKSTONE • Blackstone Real Estate Income Trust BLACK CREEK GROUP • Black Creek Industrial IV FS INVESTMENTS • FS Credit REIT – Trail Share Only HINES SECURITIES • Global Income Trust – Trail Share Only JONES LANG LASALLE • Jones Lang LaSalle Income Property Trust NUVEEN • Global Cities REIT – Trail Share Only RESOURCE REAL ESTATE • Resource Real Estate Apartment REIT III – Trail Share Only STARWOOD • Starwood REIT DEUTSCHE BANK • RREEF Property Trust Back to Page 1 Real Estate Limited Partnership/Private Placement: 877-318-6400 or [email protected] Back to Page 1 Non-Traded Business Development Companies (BDCs): 877-318-6400 or [email protected] OWL ROCK CAPITAL • Owl Rock Capital Corp II PARTNERS ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
Back to Page 1 Non-Traded Closed End / Interval Funds: 877-318-6400 or [email protected] BLUEROCK FUNDS GRIFFIN CAPITAL • Bluerock Total Income+ Real Estate Fund SECURITIES • Griffin Institutional Access Real Estate Fund OFI CARLYLE RESOURCE REAL ESTATE • Private Credit Fund • Resource Real Estate Diversified Income Fund Back to Page 1 Private Equity: 877-318-6400 or [email protected] ALTEGRIS INVESTMENTS • Altegris KKR Commitments Fund CENTRAL PARK GROUP, • CPG Carlyle Commitments Fund, LLC LLC VOYA/POMONA CAPITAL • Pomona Investment Fund Back to Page 1 Exchange Funds: 877-318-6400 or [email protected] EATON VANCE • Clearfork Capital Fund, LLC • Exchange Place, L.P. GOLDMAN SACHS ASSET MANAGEMENT Back to Page 1 Hedge Funds: 877-318-6400 or [email protected] ALKEON CAPITAL • ACAP Strategic Fund MANAGEMENT • Alkeon Growth Partners OPPENHEIMER • Oppenheimer SteelPath MLP Partners, L.P. CENTRAL PARK GROUP, • CPG Global Distressed Fund, LLC LLC ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
Back to Page 1 Fund-of-Hedge Funds: 877-318-6400 or [email protected] CENTRAL PARK GROUP, LLC • CPG Activist Fund, LLC • CPG Lighthouse Global Long/Short Fund, LLC IRONWOOD CAPITAL • Ironwood Institutional Multi-Strategy Fund, LLC MANAGEMENT • Morgan Creek Global Equity Long/Short Institutional Fund MORGAN CREEK CAPITAL MANAGEMENT Back to Page 1 Managed Futures – Single Manager: 877-318-6400 or [email protected] CAMPBELL & COMPANY MILLBURN RIDGEFIELD • Campbell Fund Trust • Global Macro Trust Back to Page 1 Managed Futures – Multi-Manager: 877-318-6400 or [email protected] STEBEN & COMPANY • Futures Portfolio Fund, L.P. ADVISOR USE ONLY Not all products or providers are approved in all states Accurate as of 03/31/2019
LPL FINANCIAL RETIREMENT PARTN more than 38 Advisors recogn Financial Times T 6,700 Retirement Plan advisors with plans 20 NAPA Top Wome 39,068plans AUA $107.4B LPL CORPORAT 40 As of December 31, 2018 Home Office employees Advisory & Brokerage Assets dedicated to Retirement Partners Advisory Assets ($ billions). . 50 Financial Advisors. . . . . . . . . . . . . . . . . . . . . . . . . . . STATES Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LPL plan advisors LPL is one of represented in all custodians an 50 states. independent b The firm and i No. 1 in net cu * Based on total revenues, Financial Plannin ** 2017 Cogent ReportsTM study 1 All data as of 12/2018 except as noted. 2 2018 Financial Times Top 401 Retirement Plan Advisors: financial advisors managing at least $75 million in defined contribution plans represent at least 20% of total AUM. Selected based on eight broad factors, including DC plan AUM, DC specialization, g of plans, average participation rate in advised plans, years of experience, industry certifications and compliance record. 3 2019 NAPA Top Women Advisors are nominated and voted on by industry peers and selected by a NAPA panel of judges based experience and accomplishments as provided by nominees. 4 P LANADVISER 2018 Top 100 Retirement Plan Advisers list. Advisors selected solely on quantitative factors, including plan ass directly by nominees. 5 2019 NAPA Young Guns are nominated and voted on by industry peers and selected by a NAPA member committee based on bu leadership potential.
NERS FACTS AND FIGURES1 nized as 8 Awards to advisors and advisor Top 401 teams in PLANADVISER Top 1004 n Advisors2 10 NAPA Young Guns5 en Advisors3 TE SNAPSHOT CORE PRODUCTS $628s ($ billions). . . . . . . . . . RETIREMENT PLAN . . . . . . . . . . . . . . . . . . . $282 16,109. . . . . . . . . . . . . . . . . . . . . . . . . . . CONSULTING PROGRAM 4,229. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . RPCP the fastest growing RIA BROKER Tools and SMALL nd the nation’s largest OF Technology MARKET broker dealer* its financial advisors were ranked RECORD SOLUTION ustomer loyalty in 2017** PARTICIPANT ng magazine June 1996-2018. SERVICES n (DC) plan assets and for whom DC Member FINRA/SIPC. growth in DC plan assets and number RP-415-0319 Tracking #1-833413 d on information about their practice, ets and number of plans, as reported usiness profile and future industry
BUSINESS SOLUTIONS FOR YOUR RETIREMENT PLAN BUSINESS LPL Financial believes our investors are best served by to take on a fiduciary role and adopt either an advisory providing choice and mitigating the potential for conflict (fee-based) or broker-of-record (BOR, level compensation) of interest. In keeping with that position, these standards model. Each provides your practice differing levels of are now embedded in our retirement offering. certain fiduciary protections, options and tools to support the way you wish to manage your retirement business. The following chart illustrates business solutions for An FAQ section is also provided on the next page. LPL financial professionals who are evaluating whether Broker of Record (BOR) or Advisory? ADVISORY Education-Only BOR with an (receiving advisory fees Services Approved from the plan/client) Recordkeeper (receiving commissions/trails) Retirement Partners Small Market Plan Reporting Institutional 3(38) Consulting Program Solution (SMS; Services (PRS) or Investment centrally managed by Retirement Partners Manager (RPCP) LPL Research) Tool Suite Your Business Options RPCP: Advisory program offering that is available Retirement Partners Tool Suite which provides a complete if you are a qualifying advisor with plan experience. set of investment due diligence and plan reporting options. SMS: An integrated ERISA 3(38) advisory option that Institutional 3(38): BOR offering that leverages an leverages LPL Research to provide a centrally managed set institutional 3(38) investment manager that is integrated of investment menus and built-in investment due diligence. with an LPL-approved record keeping (RK) provider. Attachment to record keeper is optional. PRS or Retirement Partners Tool Suite: As BOR, you have access to the Retirement Partners’ investment Education-only Services: Both advisory and BOR plans fiduciary process. If you decide to take on the role of a fiduciary you are responsible for investment menu offer education-only options. For BOR plans, providing just recommendations. To support this responsibility, LPL provides PRS, which includes a standardized IPS and education services generally would not be considered a investment due diligence process or access to the fiduciary act. Continued
FAQ Q: What is the Small Market Solution (SMS)? Q: What is LPL Financial’s retirement-plan A: SMS is designed specifically for retirement-plan compensation structure? advisors to create scale and efficiency in their practice by A: Advisors are paid for providing investment and non- allowing them to spend less time on fiduciary and plan- investment services to the plan. Investment services include management tasks that can be time-consuming to perform initial and ongoing recommendations for the investments on smaller plans. SMS helps you minimize investment offered under the plan’s investment menu, as well as fiduciary risk for plan sponsors and increase office ongoing monitoring and replacement recommendations. efficiency. Most small plans want an advisor who will Non-investment services covered under the compensation take on the selection and monitoring of plan investments. structure include fiduciary education provided to the Through SMS, the LPL Research team will serve as the employer, investment committee or directors/trustees; and ERISA 3(38) investment manager and take on fiduciary general participant education generally delivered in a group responsibility for plan investments, helping reduce your setting.1 For more details including the payout grid, please clients’ fiduciary responsibility and legal liability under refer to LPL’s fact sheet, “Understanding Broker of Record ERISA. As the 3(38) fiduciary, LPL Research will: Compensation”2 in the LPL Resource Center. Act with discretionary authority over the plan’s Q: What’s the difference between the compensation investment selection and monitoring offered under the advisory and broker-of-record (BOR) options? Accept ERISA 3(38) fiduciary responsibility for A: The advisory option under RPCP and SMS is a fee- investment-related decisions based model, whereas the BOR model offers levelized compensation that’s similar to commissions or trails. Provide a compliant Investment Policy Statement (IPS) Plans advised under the BOR model will pay one levelized asset-based charge rather than multiple charges based With SMS, your clients get investment fiduciary support on differing fund compensation structures. and resources designed to help simplify retirement planning. As a result, you can focus on consulting and Q: What is the Retirement Partners Consulting prospecting—dedicating more of your time and talents Program (RPCP)? where they are most effective. A: RPCP is a 100% fee-based initiative that allows qualified advisors to provide consultation and advice Q: What is the Plan Reporting Services (PRS) to plan sponsors using the LPL corporate registered Reports option? investment advisor (RIA). RPCP supports your A: PRS will assist advisors that choose to take on commitment to servicing retirement plans by providing a fiduciary role by providing ongoing investment full fee transparency, regulatory and fiduciary know- recommendations and investment monitoring. PRS how, and substantial retirement plan knowledge in a supports your fiduciary status with a standardized fully ERISA 408(b)2-compliant solution. Contact us at investment policy statement (IPS) and centralized [email protected] to learn more about investment due diligence and monitoring. the requirements and approval process. Q: What is the Institutional 3(38) option? Q: What is the Tool Suite? If I am already a A: The Institutional 3(38) option combines the advantages Tool Suite subscriber, how is my status affected? of an institutional 3(38) manager with an LPL-approved A: Tool Suite provides a complete set of resources to retirement plan record keeper for an “outsourced” help manage fiduciary and plan-reporting requirements. investment fiduciary solution. Using the Tool Suite will meet LPL reporting and research requirements. For additional information, please contact LPL Financial Retirement Partners at [email protected] to discover how we can support the needs of your retirement business with precisely tailored solutions. 1 LPL advisors may offer individualized participant services covered under separate LPL programs such as Individual Participant Advice, and individual brokerage accounts. 2 https://rc.lpl.com/content/rc/RP/BORCompensationFactSheet.html?query=retirement+plan+compensation &tags=&filter=all This material is for use by financial professionals only and is not intended for distribution to the general public. Member FINRA/SPIC. RP-0354-0419 Tracking #1-845490 (Exp. 04/21)
RETIREMENT PLAN CONSULTING PROGRAM A Comprehensive Solution to Power Your Business As an advisor, you know the demands of running a day-to- Under RPCP, you can offer clients an expanded day business along with the needs of managing retirement range of services that complement your plans-keeping current with retirement plan design, investment advice: investment knowledge, fee and regulatory requirements and fiduciary knowledge. Investment Policy Statement Assistance To help you assist plan sponsors with meeting these demands and succeed in the retirement plan market, Assistance with LPL Financial Retirement Partners created the Retirement Changes in Plan Consulting Program (RPCP). Investment Options Available to qualified advisors under the LPL Performance Reports Financial corporate Registered Investment Advisor, Education Services to RPCP offers you a fee-based platform to provide discretionary and non-discretionary and fiduciary Plan Committee investment management services, as well as non- Participant Enrollment fiduciary consulting services to plan sponsors. Education Search Support/Vendor Analysis Making it easier to manage Benchmarking Services complexity of retirement plans To participate in RPCP you need to be an Investment Advisory Representative (IAR) and hold one of the RPCP offers you a number of advantages that can help following designations: you and your clients navigate a complicated and ever- changing regulatory landscape in addition to removing any AIF, AIFA, CFA, CFP, CHFC, CIMA, CPFA, CRPC, potential conflicts of interest in recommending investment CRPS, PFS, PPC products or other services: Designations help to provide the necessary level of Provide the investment advice that clients need expertise and support to retirement plan business. without worrying about your fiduciary status or form of compensation. As a RPCP-approved 3(21) advisor, Tap into the growing and exciting you can demonstrate your value through ongoing retirement-plan market investment recommendations and monitoring, including Qualified Default Investment Alternative assistance. If you’ve been considering offering retirement plan services to your clients but have hesitated due to their Retirement consulting a major part of your practice? perceived complexity, now is your time to act. RPCP We have you covered. Under RPCP’s 3(38) investment makes the complex simple, and provides all the tools and manager option, qualified, experienced retirement plan resources to help you be successful. To learn more how advisors have full discretion to manage the fund lineup RPCP can power your retirement-plan business, contact on behalf of the plan sponsor. your LPL Financial Retirement Partners Consulting Team at [email protected] New business requirements make it easier to offer plan advisory services. LPL Financial has removed the requirement that advisors have at least five plans or $5 million in retirement plan assets to be considered for the RPCP 3(21) option. For broker/dealer use only. Not for distribution to the public. LPL Financial is a Registered Investment Advisor, Member FINRA/SIPC. RP-470-0618 Tracking #1-741984 (Exp. 06/20)
RETIREMENT PARTNERS TOOL SUITE An Advisor’s Guide to Helping Clients Pursue More Successful Plans As a plan advisor, one of your responsibilities is helping your clients ensure that their plans are optimized for the needs of their employees, while helping employers manage fiduciary risk and making sure the plans align with the realities of running their businesses. The LPL Retirement Partners Tool Suite brings you the resources, and tools that help to aim for the best possible plan for your clients to pursue their retirement-plan goals.
ESSENTIAL TOOLS FOR FIDUCIARY BEST PRACTICES Fiduciary Monitoring System for Fiduciary Best Practices Efficiently monitor all of your plan’s investment lineups with automated tools that notify you of changes in performance or other factors using easy to understand filters and “pass/fail” criteria. Generate quarterly investment reports using LPL Research’s proprietary 12-factor methodology. With our comprehensive scorecards, you can quickly assess plan investments, helping ensure they are meeting the requirements of individualized Investment Policy Statements (IPS). Easily document your analysis and any actions or decisions taken by plan sponsors arising from your review, and schedule formal investment reviews based on the desired timetable set by your clients. Fiduciary Vault for Centralized Document Storage and Retrieval As a value-added service to clients, instantly store, search, locate, and retrieve from one centralized virtual location all plan-related forms, documents, white papers, commentaries anytime, from any location — and the plan sponsor will never again have to remember where they put them! Access vital plan reviews, investment monitoring reports, RFPs, benchmarking data, and links to related websites such as recordkeepers and Third Party Administrators. Help your clients reduce the risk of not being prepared for a Department of Labor field investigation. RFP Director for Demonstrating Value to the Plan and Improving the RFP Process Benchmark or re-price your clients’ current plan fees and services to help make sure they’re receiving the best value. Efficiently conduct an RFP process that is automated yet customized to the specific needs of your clients’ plans. Compare services and capabilities of multiple recordkeepers and providers side-by-side, all on one page to help plan sponsors make informed and objective service-level decisions for their plans. Investment Policy Statement for Formalizing Plan Governance Assist the plan sponsor to meet its fiduciary responsibility to specify in writing the plan’s goals, priorities, and investment preferences. Fully document the procedures by which the plan will make changes to its investment lineup, services, and policies. 2 RETIREMENT PARTNERS TOOL SUITE
ENHANCED TOOLS FOR EXPANDED FIDUCIARY CAPABILITIES Pension Resource Institute for Modeling Effective Plan Governance Access accurate and up-to-date fiduciary education and resources for new and existing plan sponsors. Help plan sponsors stay abreast of regulatory developments, navigate their responsibilities, and develop prudent fiduciary processes. Investment Due Diligence Receive precise and timely research reports and analysis from the LPL Financial Research Team and Morningstar’s premium coverage of more than 400,000 investments. Stay up-to-date on plan fund lineups with scorecards, expense ratio analyzer, and market commentary. Fiduciary Benchmarks, Inc. to Evaluate Plans Against Peers Access multiple reports from an industry leader in benchmarking. Help your clients evaluate and compare the pricing and value of their recordkeepers, investments and your advisory services at plans like their own. Industry Reports to Compare Plans to Industry Averages Show plan sponsors how their plans stack up to the industry averages, with detailed reports covering the annual PLANSPONSOR Defined Contribution Study of more than 5000 plan sponsors. Compare apples-to-apples of plan design, participation, employer match, fees, and more. RETIREMENT PARTNERS TOOL SUITE 3
Fee Comparison and Analysis Evaluation to Demonstrate Reasonableness of Expenses Impacting the Plan Review comprehensive fee analysis covering total plan fees, including those for investment management, recordkeeping, and advisory/ consulting services, as well as plan benefits and features. Fund Lineup Comparison Help plan sponsors rate up to five service provider portfolios for fees and performance, demonstrating relative strengths and weaknesses of fund options. PRACTICE MANAGEMENT TOOLS Larkspur Planisphere for Prospecting and Closing New Plans Build your own dynamic sales pipeline using this detailed online database of 1.4 million qualified plans nationwide. Quickly and easily tag prospects for follow up; enter and save private notes on contacts; generate custom reports; set follow-up tasks; and much, much more. Plan Advice Manager (PAM) for Helping Plan Sponsors Manage Investment Due Diligence and Monitoring Use PAM to create individual investment policy statements (IPS) for each plan, setting its fund parameters and fiduciary status under ERISA 3(21) or 3(38). By automatically evaluating plan lineups and identifying “watch list” and “replacement” funds, PAM allows you to quickly and efficiently determine whether to recommend replacing or adding funds for multiple clients. RETIREMENT PARTNERS TOOL SUITE 4
Integrated Recordkeeper Datafeeds for Capturing Monthly Fund and Asset Level Information Get monthly feeds from more than 28 leading retirement plan recordkeepers that will allow you to deliver plan and participant level advice tailored to the needs of each plan. Deliver accurate and timely account reviews and updates to participants that help you in your efforts to improve outcomes and forge long-term client relationships. Dashboard for An At-a-Glance View of Your Book of Business Instantly view plan and fund-level assets held by all fund families, including low-scoring funds, as well as assets held by top three managers and recordkeepers. Capture total assets by active RFPs with plan providers. Easily expand views to get detailed reports and export data as needed. LPL Financial offers your retirement-plan practice efficient plan support services, driven by knowledgeable specialists, and powered by advanced technology. That way, you remain focused on working directly with your clients on optimizing plan design and investments, while we manage the back office on your behalf. To learn more about how the LPL Financial Tool Suite can save you time, drive greater value and seek more successful outcomes for your clients, please contact your Retirement Partners Consultant at (866) 383-4015, option 1, or email [email protected]. The LPL Retirement Partners Tool Suite has been certified by the Centre for Fiduciary Excellence (CEFEX) for Investment Support Services. CEFEX is an independent global assessment and certification organization that works closely with investment fiduciaries and industry experts to provide comprehensive assessment programs that improve risk management for institutional and retail investors. CEFEX certification helps determine the trustworthiness of investment fiduciaries.* * S cope of certification limited to provision of LPL Financial Retirement Partners Tool Suite when used in conjunction with the LPL 12-point scoring methodology: Fiduciary Monitoring System, Plan Advice Manager, Expense Analyzer, Fiduciary Vault, Retirement Plan HealthCheck, Fee Comparison and Analysis Tool, Fund Line-up Comparison Tool and RFP Director. 5 RETIREMENT PARTNERS TOOL SUITE
LPL Financial, Member FINRA/SIPC. For Advisor Use Only | Not for Distribution to the Public.. RP-422-0118 Tracking #1-688520 (Exp. 01/20)
LPL Retirement Partners Tools Comparison Here is an overview of the LPL-approved tools and their functions and capabilities used for supporting and monitoring investment due diligence and related aspects of retirement plan performance. It is important to consider not only the features of each tool, but the ability for them to incorporate into your practice management, reporting and overall deliverables you provide to your plan sponsors. Plan Features LPL Retirement FRA Plan Tools Retirement fi360 Investment Monitoring Partners X Plan Advisory X Mutual Fund Scoring Tool Suite X Group™ X Separate Account/Annuity Scoring X X Fiduciary Vault Functionality X X X X Proprietary Recordkeeper Data Feeds X X Mass Report Generation Capability X Limited X Limited Custom Report Section Output X X X Customized IPS X X Limited X Allows branding of reports X X X X Prospecting tools (Form 5500-based) X X X Customized Active Scoring Methodology X X X Passive Scoring Methodology X X X TDF Scoring Methodology X X X RFP Functionality X X X Fiduciary assistance modules X X X Enhanced benchmarking X X X Searchable provider product filters X X Industry-specific demographic reports X Limited X Industry news updates X Limited FiRM Plus performance reporting X $5,750 Annually X capabilities X TDF Selection Tool X $10,000 Annually $2,295 Annually Cost X X $4,800 Annually Descriptions of Plan Tools Options Retirement Plan Advisory Group™ RPAG provides practice management, marketing LPL Retirement Partners Tool Suite resources, training and sales support. The Tool Suite offers a robust set of resources and tools designed to facilitate the best possible plan outcomes for fi360 your clients as they pursue their retirement-plan goals. These purpose-built tools are designed to monitor standards of fiduciary care. FRA Plan Tools FRA (Fiduciary Risk Assessment) Plan Tools support and monitor retirement due diligence and related aspects of plan performance. Securities offered through LPL Financial, Member FINRA/SIPC. For Broker/Dealer Use Only. Not for use with the Public. RP-524-0419 Tracking #1-838074 (Exp. 04/21)
LPL FINANCIAL WHAT YOU NEED TO KNOW 408(b)(2) Plan Sponsor and 404(a)(5) Participant Fee Disclosure Requirements Guide For Plan Advisors
ABOUT THIS GUIDE This guide is designed to help you meet the challenges of 401(k) plan fee disclosures. Our goal is to provide a resource as you work with your clients and prospects in meeting the fiduciary responsibilities that come with 401(k) plan sponsorship. Fee Disclosures: Better Informed As a retirement plan advisor, Participants, Better Prepared Retirees it is important that you have clarity about plan fees. ERISA Section 404(a)(5) and 408(b)(2) are parts of a 3-pronged strategy Keep in mind that, while imposed by the Department of Labor to facilitate and enhance the fee disclosure rules may be exchange of information between service providers, organizations, their complex, they also present an employees and the DOL. Their intent is to improve the disclosure of opportunity for you. As you fees and any conflicts of interest, enabling organizations/plan sponsors help clients understand their to maintain reasonable fees and help employees make better informed plan fees, we are here to help investment decisions. with the tools and information you need to offer the best Unraveling the Complexities service possible and mitigate risk. Toward that effort, we Retirement plan fees are complex and challenging to understand. Those in have summarized the fee the retirement plan industry have understood these costs for some time. disclosure requirements. But plan sponsors, and ultimately plan participants, may still be under the impression their plans are free.1 1 http://www.ireachcontent.com/news-releases/42-million-people-do-not-know-they-are-paying- any-fees-on-their-workplace-retirement-plans-505809961.html 1 FEE DISCLOSURE REQUIREMENTS GUIDE
PART 1 Provider Disclosures to Plan Sponsors (ERISA Section 408(b)(2))2 Covered service providers must make certain disclosures to fiduciaries of covered plans. WHICH SERVICE PROVIDERS ARE COVERED? Those providing services expected to be more than $1,000: to the plan, either as a fiduciary, or as an investment advisor registered under the Investment Advisors Act or state law as a fiduciary to an investment that holds plan assets and in which a direct equity investment is made by the plan as a recordkeeper or broker providing services to individual account plans where participants direct their own investments, such as a 401(k) plan to the plan as accountants, attorneys, actuaries, auditors, third party administrators and others if they expect to receive indirect compensation as subcontractors or affiliates to service providers above WHAT DISCLOSURES MUST THEY MAKE? In writing, on behalf of service providers and their affiliates or subcontractors, statements that: describe the services to be provided to the plan disclose their status, if applicable, as a fiduciary or registered investment advisor as registered under state law or the Investment Advisors Act describe the compensation expected to be received, including direct (paid by the plan) and indirect (paid by any source other than the plan or the plan sponsor) compensation, and including a statement that identifies the payer of the indirect compensation and the services for which it is expected to be received describe any compensation payable upon termination of the arrangement describe how the compensation will be paid, for instance, upon receipt of an invoice, through direct deduction, etc. WHICH PLANS ARE COVERED? Only retirement plans subject to ERISA are covered by the disclosure requirements. These include defined benefit, profit sharing, 401(k) and some 403(b) plans; certain plans are not covered by this rule, including IRAs (such as SEPs and SIMPLEs), governmental, church, non-ERISA 403(b) and “Keogh” plans covering the business owner and spouse. 2 S ee DOL Fact Sheet summarizing the final rule under 408(b)(2): https://www.dol.gov/sites/default/ files/ebsa/about-ebsa/our-activities/resource-center/fact-sheets/final-regulation-service-provider- disclosures-under-408b2.pdf. FEE DISCLOSURE REQUIREMENTS GUIDE 2
PART 2 Plan Sponsor Disclosures to Plan Participants (ERISA Section 404(a)(5))3 Plan sponsors must provide certain disclosures to eligible employees and participants in some retirement plans What disclosures are required? Eligible employees and plan participants must receive the following plan-related information in a format that allows for easy comparison: PLAN-RELATED INFORMATION MUST INCLUDE A DESCRIPTION OF: When and how a participant may give investment instructions, including any limitations on the instructions (for example, if there are limits placed on transfers to or from a designated investment alternative) Any plan provisions that relate to voting rights, tender rights, or similar rights that pertain to investing in a designated investment alternative The plan’s designated investment alternative Who is the plan’s designated investment manager Self-directed accounts that are available under the plan Any brokerage windows in the plan Any changes in the listed information, at least 30 days but no more than 90 days before the change becomes effective PLAN-RELATED ADMINISTRATIVE EXPENSE AND FEE INFORMATION Fees for general plan administrative expenses that may be charged to participant accounts and that are not shown in the total annual operating expenses of the investment alternatives must be explained. The explanation must include the basis used for allocating the expenses (for example, pro-rata). These might include expenses for recordkeeping or accounting. If there are changes in the information provided, an explanation should be provided at least 30 days but not more than 90 days in advance of the change Fees and expenses, in dollar amounts, that were actually charged to participant accounts during the previous quarter (or more frequently) for these services. This disclosure must include a description of: The services received in exchange for the expenses A statement explaining whether or not any of the plan’s administrative expenses were paid through indirect fees, such as 12b-1 or sub-transfer agency fees 3 S ee Final Rule: Fiduciary Requirements for Disclosure in Participant-Directed Individual Account Plans, at https://www.federalregister. gov/documents/2010/10/20/2010-25725/fiduciary-requirements-for-disclosure-in-participant-directed-individual-account-plans 3 FEE DISCLOSURE REQUIREMENTS GUIDE
PLAN-RELATED, PARTICIPANT-SPECIFIC EXPENSE AND FEE INFORMATION Expenses and fees that may be charged against an individual participant’s account, rather than against the plan as a whole, and that are not shown in the total annual operating expenses of designated investment alternatives, must be explained. These might include fees for plan loans, fees for investment advice, or redemption fees. If there are changes in the information, an explanation should be provided at least 30 days but not more than 90 days in advance of the change. Fees and expenses, in dollar amounts, that were actually charged to the individual participant’s account during the preceding quarter (or more frequently) for these services, along with a description of the services. INVESTMENT-RELATED INFORMATION This information includes the name and type of each designated investment alternative available under the plan, along with performance data, expenses, contact information, comparative data, and a glossary of terms. The required information is very detailed, and is summarized in the DOL’s Model Comparative Chart on its website. While the DOL Model Comparative Chart is not required, use of it ensures compliance. You can view the DOL Model Comparative Chart along with other relevant resources at https://www.dol.gov/agencies/ebsa/ key-topics/retirement/retirement-plan-fee-disclosures. Which plans are subject to the disclosure requirements, and when must the disclosures be made? The information must be disclosed on or before the date on which the participant can first direct his or her investments, and at least once each year thereafter. All ERISA-covered individual account plans, like 401(k) and certain 403(b) plans, are subject to the disclosure rules of Section 404(a)(5). Practice management impact You may get questions regarding your fees and services. Advisors should be ready to substantiate fees and to articulate a solid suite of non-fiduciary functions. These could include plan sponsor education, participant education and retirement readiness support, committee management, vendor searches, provider benchmarking and expense analyzer. FEE DISCLOSURE REQUIREMENTS GUIDE 4
THE PLAN ADVISOR OPPORTUNITIES Advisors have the opportunity to assist plan sponsors with their 408(b) Along with the regularly (2) and 404(a)(5) compliance. Some of the services and resources to scheduled participant disclosures offer include: under 404(a)(5), plan sponsors must address individual Consulting activities related to 408(b)(2): participant inquiries. Educating clients and prospects on disclosure requirements; Assist with identifying related covered service providers and understanding what they do; Assist with establishing procedures to request and track information from the service providers; Assist plan sponsor in understanding all fees and how they interrelate; Helping establish methods to benchmark fees; and Documenting on a regular basis. 404(a)(5) disclosure compliance and participant inquiry management: Educate clients and prospects on the disclosure requirements; Assist with the completion and maintenance of the DOL Model comparative chart; Assist in establishing ongoing protocols for participant inquiry support including logging intake, follow up and documenting participant satisfaction of response; and Conduct employee education meetings on fees and expenses. Plan sponsors will need to respond to participant requests with prospectuses, financial reports, statements of valuation, and statements of assets held by each investment option. Advisors are in the best position to assist with gathering this information, and can help plan sponsors with Participant Fee Inquiry support by educating them on inquiry management processes and protocols. 5 FEE DISCLOSURE REQUIREMENTS GUIDE
VALUABLE PLAN BENCHMARKING RESOURCES The LPL Financial Retirement Partners Tool suite offers comprehensive resources built specifically for retirement plan advisors, many of which can help plan sponsors meet their disclosure requirements. The Tool Suite includes: RFP Director Benchmark or re-price current plan fees and services to make sure you’re receiving the best value. This tool allows you to efficiently conduct an RFP process that is automated, yet customized to the specific needs of the plan. It also allows for comparison of services and capabilities of multiple recordkeepers and providers side-by-side, all on one page, so it’s easy to make informed and objective service-level decisions for the plan. Fee Comparison and Analysis Allows for easier evaluation to demonstrate reasonableness of expenses impacting the plan. You can review comprehensive fee analysis covering total plan fees, including those for investment management, recordkeeping, and advisor/consultant, as well as plan benefits and features. Additional Benchmarking Resources Other independent benchmarking resources that you may wish to explore include: Fiduciary Benchmarks Reports www.fiduciarybenchmarks.com Monarch Online Fee Benchmarker™, Ann Schleck and Company. www.annschleck.com The 401(k) Averages Book. www.401ksource.com. The Spark Journal, Vol. 21 No. 1, First Quarter 2011, Fiduciary Benchmarking of Retirement Plan Fees, Tom Kmak and David Witz. The volume of required information is substantial, and may be overwhelming to plan sponsors and plan participants. Fee disclosure, benchmarking and participant inquiry support services are interrelated, and a well-prepared advisor can help clients and prospects work through these new duties. In this way, you can strengthen existing relationships, give yourself a competitive edge and maintain your revenue. FEE DISCLOSURE REQUIREMENTS GUIDE 6
Useful Resources www.lpl.com From the DOL Understanding Retirement Plan Fees https://www.dol.gov/agencies/ebsa/about-ebsa/our- activities/resource-center/publications/understanding-your- retirement-plan-fees 401(k) Plan Fees Disclosure Tool Word document available for download at https://www.dol.gov/sites/default/files/ebsa/employers- and-advisers/plan-administration-and-compliance/fiduciary- responsibilities/401k-plan-fee-disclosure-tool.pdf Tips for Selecting and Monitoring Service Providers for Your Employee Benefit Plan https://www.dol.gov/sites/default/files/ebsa/about-ebsa/our- activities/resource-center/fact-sheets/fs052505.pdf Member FINRA/SIPC For broker/dealer use only. Not for use with the public. RP-408-1117 | Tracking #1-65534 (Exp. 11/19)
Search
