Ladenburg Thalmann Financial Services, home to some of the largest broker-dealers in the retirement space—including Securities America, Triad Advisors and Investacorp—will launch its Retirement Plan Consulting Platform, the company announced Thursday.
It will combine “ongoing consulting support with enhanced software tools, training and other resources to facilitate growth for retirement plan-focused advisors across its five independent advisory and brokerage subsidiaries.”
The platform is an expansion of Ladenburg’s existing resources for retirement plan-focused advisors, which it says is a demonstration “of the firm’s continuing commitment to supporting the professional success of advisors in this vital segment of the financial advice space.”
“While most plan sponsors work with a financial advisor, it is increasingly important for plan advisors and the firms that support them to significantly expand the value they provide to retirement plan sponsors, and serve a role in boosting the retirement readiness of workers across the country,” Richard Lampen, president and chief executive officer of Ladenburg, said in a statement. “Our new Retirement Plan Consulting Platform meets these goals.”
Ladenburg’s new platform will enable advisors affiliated with the firm’s subsidiaries to deliver significant incremental value to clients in the retirement plan segment of the wealth management space. It will provide them with “robust product selection options, enhanced investment monitoring capabilities, fee and expense benchmarking reports, as well as FINRA-reviewed, pre-approved marketing materials and educational content, among other resources.”
Additionally, the Retirement Plan Consulting Platform’s practice management and coaching features will provide advisors with training, techniques and insights to help them effectively prepare for meetings with plan sponsors to review investment options and recommend needed changes; create model portfolios for plan participants; assist participants with enrollment and explain plan fees and expenses to satisfy sponsors’ concerns.
Interestingly, the new platform is designed to help advisors, regardless of the advisor’s level of experience – whether generalist, intermediate or specialist:
- Specialist advisors who have businesses that are substantially or completely focused on serving retirement plan sponsors will benefit from the Retirement Plan Consulting Platform’s significant enhancements with pricing on vendor support and an array of technology-enabled tools that specifically target more complex retirement plan support needs.
- For intermediate advisors managing several plans while still focusing on traditional wealth management activities, the platform will provide coaching, best practices and ongoing consulting support, enabling them to grow the retirement side of their businesses.
- For generalist advisors overseeing one or two retirement plans in addition to their core wealth management practices, the platform will provide tools to help them gain expertise and expand their presence in the space.
Advisors seeking to enter the retirement plan market will benefit from turnkey solutions that provide the foundational knowledge and skills they will need to pursue opportunities in the retirement plan space with confidence.
Ladenburg has selected Retirement Plan Advisory Group (RPAG) to furnish the platform’s technology elements and certain of its practice management and training modules, following an extensive search for a provider that demonstrated both in-depth understanding of the retirement plan space and a proven ability to meet the stringent demands of clients in the sector.
“We are thrilled and honored to partner with Ladenburg Thalmann to bring RPAG’s leading practice management platform to their retirement-focused advisors,” added Vince Giovinazzo, founder and CEO of the Retirement Plan Advisory Group. “Ladenburg’s deep commitment to helping their affiliated advisors grow their retirement business is consistent with RPAG’s values, focus, and mission of growing retirement advisory practices with scale and efficiency. Ladenburg’s high-quality advisors and management team are a perfect fit for RPAG, and we look forward to working together going forward.”
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
