SAN DIEGO, Sept. 28, 2015 (GLOBE NEWSWIRE) -- LPL Financial LLC, the nation's largest independent broker-dealer*, a custodian for registered investment advisors (RIAs), and a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), today announced that it has enhanced its LPL Retirement Partners tool suite to now include comprehensive benchmarking and reporting tools developed by Fiduciary Benchmarks.

“We believe the benchmarking process is critical for every plan, and we are excited to offer what we think is the industry’s best capability as a part of our standard tool suite,” said David Reich, LPL executive vice president and head of Retirement Partners. “Including Fiduciary Benchmarks as an integrated offering within our tool suite is consistent with our goal to leverage LPL’s size and scale to our advisors’ advantage.”

Christina Marschinke, LPL vice president, Retirement Partners product development, added, “We chose Fiduciary Benchmarks for the quality of its data and process as well as for the ability to integrate the content into our tool suite.  We made that a focus because our advisors consistently let us know that they value seamless integration of technology solutions so that they can operate their businesses more efficiently.”

Fiduciary Benchmarks offers a complete suite of tools designed to serve the retirement plan business in managing risk, helping to improve participant outcomes and evaluating service providers. The company has also introduced the Retirement Outcomes Evaluator, an interactive plan design modeling tool that helps plan sponsors evaluate the impact of plan design features on participant retirement outcomes.

“LPL is the first broker-dealer to make Fiduciary Benchmarks’ full suite of services available to its clients and is also the first broker-dealer to provide the Retirement Outcomes Evaluator,” said Tom Kmak, CEO, Fiduciary Benchmarks. “We are excited to be able to provide our comprehensive suite of services and resources to LPL-affiliated advisors and plan sponsors to help enhance their clients’ business and grow their client base.”

LPL’s Retirement Partners tool suite is designed to support the critical areas of advisor plan business including investments, fiduciary support, plan design consulting and plan management. There are currently more than 700 LPL advisors, plan sponsors and support staff using the tool suite.

*Based on total revenues, Financial Planning magazine, June 1996-2015

About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ:LPLA), is a leader in the financial advice market and serves $486 billion in retail assets. The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,100 independent financial advisors and more than 700 banks and credit unions. LPL Financial is the nation's largest independent broker-dealer since 1996 (based on total revenues, Financial Planning magazine, June 1996-2015), is one of the fastest growing RIA custodians with $112 billion in retail assets served, and acts as an independent consultant to over an estimated 40,000 retirement plans with an estimated $120 billion in retirement plan assets served, as of June 30, 2015. In addition, LPL Financial supports approximately 4,300 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,385 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.

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