The integration will allow advisors to see real-time account values, plan probability in real time and import plan reports back into LPL’s ClientWorks Connected platform, according to a press release from LPL.
A “significant number of LPL advisors” already use MoneyGuide, Tony Leal, president of Envestnet MoneyGuide, says in the press release.
“By integrating with the largest independent broker-dealer in the country, we’re able to offer advisors premier financial planning software that will empower them with the technology to meet the needs of their clients and help drive growth in their businesses,” Leal says in the press release.
LPL has been focused on technology enhancements to lure and retain advisors, and ClientWorks has been cited by advisors as a reason to leave their firms for LPL.
At the end of last year, the company launched a new account opening tool on the ClientWorks platform to speed up the time it takes to onboard accounts and provide better transparency in monitoring the process.
Earlier this month, Envestnet took a minority stake in Dynasty Financial.
The two companies also unveiled plans to roll out a joint venture dubbed Advisor Services Exchange, offering enhancements to the services and tools available to advisors affiliated with the two firms.