LPL Rolls Out Scaled-Down CFO Solution for Advisors

Iaconis’s advisory firm includes a certified financial planner, director of operations and client service, as well as LPL Admin Solutions, it noted.

“Adding CFO expertise to the team has been beneficial in supporting the firm’s current phase of growth by providing focus and clarity in areas like client segmentation, benchmarking the business, and defining staff roles while ensuring competitive compensation,” Iaconis said, according to LPL.

Iaconis and his team are now “on track to onboard several advisors in the coming months,” as well as a support advisor and an additional client service associate, as a result of his outsourced CFO engagement, LPL said.

The CFO Essentials rollout follows the release of the Build Your Extraordinary Business study developed by LPL Business Solutions, examining the common strategies that top-performing advisors use to achieve results.

The recent research shows commonalities among how the top 10% of LPL advisors pursue success. The data indicates that, on average, firms outsourcing two or more core business functions, such as CFO, CMO or administrative services, work a similar number of hours as lower-producing advisors but “generate three times the revenue,” LPL said.

“We continue to expand our outsourcing service offerings to meet the growing demand from advisors to free up time and leverage outside thinking and insights,” Lanser pointed out. “Advisors can access professionals in marketing, access administrative support, and offer financial planning without adding staff.”

LPL now serves about 22,000 financial advisors, including advisors at about 1,100 enterprises and at approximately 550 U.S. registered investment advisor firms, it said.