LPLA Partners With Simplicity to Boost Insurance Arm & Advisor Support

LPL Financial Holdings Inc. LPLA has entered into a strategic partnership with Simplicity Group to strengthen its insurance platform and expand support for its financial advisors. The agreement will become effective on May 1, 2026.

Under the partnership, Simplicity will serve as LPLA’s preferred Brokerage General Agency (BGA), delivering a comprehensive range of insurance products, advanced technology capabilities and dedicated client service support to advisors. Additionally, LPLA will transition its existing internal insurance unit, LPL Insurance Associates, to Simplicity. This shift is intended to create a more unified and streamlined experience for advisors and their clients.

Advisors who choose to utilize Simplicity’s platform will benefit from an extensive suite of services, including specialized wholesale assistance, point-of-sale support, fully integrated end-to-end insurance solutions, and advanced planning expertise for high-net-worth individuals.

Cheri Belski, EVP, Investment Solutions at LPL Financial, said, “By partnering with Simplicity, we are accelerating access to top tier insurance resources while staying focused on our strategy: delivering the best solutions through strong, specialized partners.”

Bruce Donaldson, partner and CEO, Simplicity, said, “This strategic relationship with LPL enables us to deliver a comprehensive suite of insurance services and technology to support advisors in addressing their clients’ protection needs.”

How Does This Partnership Benefit LPLA & Simplicity?

By providing advisors with advanced technology, specialized support and a broader range of protection solutions, LPL Financial enables its advisors to build deeper client relationships and address a larger portion of their clients’ comprehensive financial needs. This is expected to support higher revenue generation and improved asset retention, which are key drivers of long-term growth in the wealth management industry.

With a network of more than 32,000 advisors and nearly $2.4 trillion in brokerage and advisory assets, LPLA offers substantial scale and market presence. Gaining preferred BGA status within such a large platform will significantly expand Simplicity’s distribution footprint and strengthen its competitive position in the insurance advisory space.

LPLA’s Other Efforts to Strengthen Its Wealth Platform

LPLA continues to expand its wealth management platform through a combination of strategic acquisitions and partnerships. Over the past few years, the company has completed several opportunistic deals. In 2025, LPLA acquired Commonwealth Financial to strengthen its wealth management platform and The Investment Center (a broker-dealer and RIA), which enhanced its advisory capabilities.

In 2024, LPL Financial acquired the wealth management business of Crown Capital Securities and Atria Wealth Solutions, which expanded its footprint in the wealth solutions market. In the same year. These initiatives continue to diversify LPLA’s revenue streams, strengthen its advisory and technology capabilities, support market expansion, and reinforce its competitive position in the wealth management industry.

Shares of LPLA have fallen 3.1% in the past three months against the industry’s growth of 6.4%.
 

At present, LPLA carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Strategic Partnership by Other Finance Firms

Last week, Franklin Resources, Inc. BEN and Binance announced the launch of a new off-exchange institutional collateral program, aiming to make digital asset trading safer and more capital-efficient. The launch is based on the strategic partnership between Franklin Resources and Binance announced in September 2025.

The current program enables eligible institutional clients to use tokenized money market fund shares issued through Benji Technology Platform of Franklin as collateral when trading on Binance.

In January, Northern Trust Asset Management (NTAM), an investment management division of Northern Trust Corporation NTRS, announced a partnership with Envestnet to offer its institutional-quality, tax-managed direct indexing solution through the platform. The collaboration enables the delivery of highly customized equity portfolios to ultra-high-net-worth clients. 

Through the Envestnet platform, financial advisors will be able to access NTAM’s direct indexing solution, which provides a diversified range of equity investment strategies. The offering supports blending indices, applying quantitative factor tilts, and includes client-specific exclusions to align portfolios with individual preferences and values. The growing adoption of direct indexing and customized model portfolios is driving NTRS’ expansion.

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