Prudential Financial and LPL are expanding their relationship to include a new retirement income product designed for financial professionals not accustomed to working with annuity strategies.
The firms announced the collaboration in a release on Monday, where both will “bring to market an Insurance Overlay retirement lifetime income strategy for LPL’s managed accounts platform.” The product is intended for financial advisors who haven’t utilized protected lifetime income and other insurance-led retirement solutions in their wealth management practices, even as a growing number of clients show interest in lifetime income products today.
LPL Financial’s network currently supports over 29,000 financial advisors and the wealth management practices of 1,100 financial institutions.
“We are excited about this opportunity to deepen our already strong relationship, reaching an even broader set of advisors within LPL’s industry-leading network,” said Ann Nanda, head of Future Growth Initiatives and Distribution Enablement at Prudential Retirement Strategies, in a statement.
The latest partnership builds upon Prudential’s relationship with LPL. In 2024, Prudential Financial announced that its retail arm, Prudential Advisors, would integrate with the LPL Financial wealth management platform. The partnership set out to expand advisor offerings and advance growth opportunities for the firms.
“Our collaboration with Prudential marks a significant step forward in how we empower advisors and clients to secure their retirement futures,” added Cheri Belski, executive vice president and head of LPL Investment Management Solutions. “Retirement strategies are at the heart of our mission, and we’re making them a central focus of our ongoing innovation. By investing deeply in retirement solutions like the Insurance Overlay, LPL is dedicated to helping advisors deliver lasting income security to clients — today and for years to come.”
Prudential holds $1.6 trillion in assets under management (AUM) as of June 30, 2025, while its Retirement Strategies business side provides over $15 billion in protected income payments to three million individual and institutional customers and pension obligation participants.
LPL Financial services $1.9 trillion in brokerage and advisory assets for seven million Americans.