As promised last summer, the folks at LPL have picked a roboadvisor partner. As it turns out, the largest independent broker-dealer is going to be teaming up with the world's largest asset manager.

Ryan Parker Investment And Planning Solutions, LPL Financial Managing Director

Yesterday Ryan Parker, managing director of investment and planning solutions for LPL, confirmed that they're working with FutureAdvisor, which BlackRock [profile] bought last year. From the sound of things, FutureAdvisor will be helping power a customized roboadvisor platform for LPL's advisors to use with clients.

RIABiz, the Wall Street Journal, and several other publications all covered the news.

The idea, as LPL's statement pitches it, is to connect the custom roboadvisor to the model portfolios built by LPL's research department (as promised), and integrate it all with LPL's custodial platform.

Last summer at LPL's giant Focus conference, president Dan Arnold told LPL-affiliated FAs that the B-D would "deliver a robo-solution, one that could be positioned as a complement" to advisors' practices. He also said that LPL would team up with an outside partner "on the technology interface and workflow associated with the interface." 

Edited by: Neil Anderson, Managing Editor


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