LPL Financial Awarded Advisory Solutions Product of the Year

According to the company, Model Wealth Portfolios has become one of their fastest growing fee-based platforms. In part as a result, advisory assets as of the end of the first quarter of 2011 were $99.7 billion, an increase of 23.1% from $81 billion of advisory assets from a year-ago.  Total advisory and brokerage assets as of the end of the first quarter of 2011 were $330.1 billion.

The company says the MWP platform also offers financial advisors discretionary control over all aspects of portfolio model construction and the management process, as well as greater efficiency in how they operate their practices through an asset oversight versus day-to-day asset management approach.

"We are grateful to Money Management Institute for their recognition of our MWP platform," John Moninger, executive vice president of advisory and brokerage consulting services at LPL Financial, said in a statement. "The role this platform has played in the industry is due to the collaborative approach of our asset management partners, and our advisors, who have helped drive the ideas around its development.  Our receipt of this award reflects the combination of scale-driven platform innovation and advisor focus that we emphasize as an organization."