The Professional Referral Network Offers two Affiliation Options, Depending On The Type Of Business Professional Partners Would Like To Refer (Brokerage vs. Advisory) And Whether They Want To Have An Ongoing Relationship or Simply Refer A Client:
Promoter Professional (PP)
In exchange for new client referrals, referring promoters receive ongoing compensation for those clients who open and maintain LPL fee-based investment advisory programs, i.e., Optimum Market Portfolios (OMP), Strategic Asset Management (SAM), Model Wealth Portfolios (MWP), etc.
Limited Securities Professional (LSP)
The program enables professionals to share in brokerage or brokerage and advisory business, and allows them to remain active in the client relationship, subject to the parameters of the agreement with their advisor partner and LPL.
Benefits for the Advisor & Professional
- The ability to transform a traditional business model into a full-service model
- Business building, networking, and additional referral opportunities
- Expanded value-added tools and services to offer your clients and prospects
- The competitive advantage of providing clients with access to a wide range of sophisticated investment products and services
Benefits for Clients
- Access to a full range of wealth management strategies
- Confidence in knowing their trusted professionals are working together toward their goals
Important Items to Note
- The limited securities professional must hold all the same licenses as their LPL advisor partner, with the exception of supervisory licenses (Series 26 and/or 24)
- LPL will sponsor the applicant to take any additional required securities exams, pending review and approval of the application
- The revenue share is negotiated between the professional and his or her LPL advisor partner
- States that do not have a licensing requirement: AK, AR, CA, FL, GA, KY, LA, MO, NM, OH, SD, WI, and WY