LPL, the largest group of independent financial advisers in the US, is working with 20 financial advisers on a robo-adviser platform. It plans to launch a pilot program, offering low cost ETF"s, in the next few months and will use a third party for its technology interface. LPL"s president, Dan Arnold, said that the firm thinks the robo-adviser will ultimately gain a decent share of the market, but will not replace the financial adviser.
LPL Financial, the largest group of independent financial advisers in the US, is working with 20 financial advisers on a robo-adviser platform. It plans to launch a pilot program, offering low cost ETF"s, in the next few months and will use a third party for its technology interface. LPL"s president, Dan Arnold, said that the firm thinks the robo-adviser will ultimately gain a decent share of the market, but will not replace the financial adviser.