LPL Adds Bookkeeping Services for Advisors

The Bookkeeping Services launch follows LPL’s introduction of Paraplanning Services and the Private Client Services Network in the first half of 2022.

“Up-to-date financials and accurate books are essential to making confident business decisions,” according to Aneri Jambusaria, executive vice president of LPL Services Group.

“We recognize the complexity of our advisors’ work and the time commitment required to maintain books with precision,” she said in a statement. “Our new service is designed to save advisors time with accurate reporting conducted by a bookkeeper who is well versed in LPL and wealth management best practices.

“Whether needing to build financial reporting for the first time, transitioning bookkeeping responsibilities, or seeking inorganic business growth, we believe that LPL affiliated advisors at all stages of business can benefit from this service,” she added.

LPL now supports more than 21,000 financial advisors, about 1,100 institution-based investment programs and about 500 independent RIA firms across the U.S., with over $1.4 trillion in brokerage and advisory client assets serviced or custodied, it said.