LPL Financial Commences 2010 Advisor-Facing Technology Investments with Introduction of New Portfolio Rebalancing Solution

BOSTON, April 13 /PRNewswire/ -- LPL Financial Corporation ("LPL Financial"), the nation's largest independent broker-dealer*, today announced that the company has commenced its 2010 reinvestments in its advisor-facing technology platform with the introduction of the ASI Portfolio Rebalancing Solution, a leading-edge multi-account rebalancing tool.

Created by Advisor Software, Inc., a leading third-party provider of outsourced investment solutions for the financial advisor market, the ASI Portfolio Rebalancing Solution provides LPL Financial independent and bank / credit union-based advisors with a robust solution to rapidly rebalance multiple accounts.  To ensure that this tool can be used seamlessly by LPL Financial advisors, the ASI Portfolio Rebalancing Solution has been integrated with BranchNet, the company's proprietary, web-based technology platform that allows advisors to manage all critical aspects of their business.

To provide maximum portfolio construction flexibility, advisors can use the tool to construct, import and maintain custom models for securities-based and target-asset allocation portfolios.  Advisors can also utilize the ASI Portfolio Rebalancing Solution to select from up to 24 strategic and tactical diversified models recommended by the Research group of LPL Financial, all of which have been incorporated into the rebalancing tool.

Additionally, LPL Financial advisors can use the ASI Portfolio Rebalancing Solution to:

• Rebalance across security types, including equities, bonds, mutual funds, ETFs and cash;
• Select from multiple rebalance options: Batch, Household and Multiple Model Modes;
• Rebalance single accounts, multiple accounts and even households;
• Leverage portfolio analytics, such as style and sector analysis, which provides advisors a portfolio view of all products within a household or single account;
• Efficiently submit trade orders for execution.

Gary Gallagher, executive vice president of Product and Platform Development at LPL Financial, said, "Our introduction of the ASI Portfolio Rebalancing Solution is a reflection of our ongoing commitment to technology investments that directly support advisor growth and efficiency.  Events of the past year have demonstrated that advisors need to be able to proactively engage in portfolio management, and to do so in as time-efficient a manner as possible.  The ASI Portfolio Rebalancing Solution is the latest resource we are adding to our existing toolkit, thereby expanding the flexibility and choice that advisors on our platform enjoy."

Neal Ringquist, President and Chief Operating Officer of Advisor Software, said, "LPL Financial represents precisely the type of forward-looking financial institution to whom Advisor Software is excited to provide our solutions.  We are excited about using our industry-leading Portfolio Rebalancing Solution to help LPL Financial advisors 'work smarter' and concentrate their efforts on helping retail investors achieve their life goals."

* Based on total revenues, Financial Planning magazine, June 1996-2009

About LPL Financial

LPL Financial is one of the nation's leading financial services companies and largest independent broker-dealer (based on total revenues as reported in Financial Planning magazine, June 1996-2009).  Headquartered in Boston, Charlotte, and San Diego, LPL Financial and its affiliates offer industry-leading enabling technology, comprehensive clearing and compliance services, practice management programs and training and independent research to 11,950 financial advisors, more than 700 financial institutions, and approximately 4,000 institutional clearing and technology subscribers.  LPL Financial has $279.4 billion in advisory and brokerage assets as of December 31, 2009.

LPL Financial and its 2,400 employees serve financial advisors through Independent Advisor Services, supporting financial advisors at all career stages; Institution Services, focusing on the needs of advisors and program managers in banks and credit unions; and Custom Clearing Services, working with broker-dealers at leading financial services companies.  For more information, please visit www.lpl.com.

Member FINRA/SIPC

About Advisor Software, Inc.

Advisor Software, Inc. is a leading provider of advice solutions for the advisor market. The company has pioneered the first enterprise rebalancing solution and a unique goal-directed financial planning platform that combines institutional-caliber analytics and a balance sheet approach to financial planning. Advisor Software's solutions are designed for a wide range of asset management firms, broker-dealers, banks, insurance companies, online brokerages, and other financial institutions, enabling these institutions and their advisors to deliver more insightful, actionable investment advice and build stronger, more profitable client relationships. For more information, visit www.advisorsoftware.com or call 925.299.7782.

SOURCE LPL Financial Corporation