The retirement plan business of Nationwide has partnered with LPL Financial to deliver actionable participant data to better personalize savings strategies to LPL-advised defined contribution plans.
LPL, the nation’s largest independent broker dealer, has a channel of about 14,000 brokers and advisors, which oversee about $465 billion client assets.
In 2013 it launched its Retirement Partners Group to support advisors that have 401(k) sponsor clients. At the time of the rollout, LPL said about 1,400 of its reps had five or more retirement plans on their books, which represented about one quarter of those reps revenues.
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