SUBSCRIBE, a leading operating system for alternative investments, today announced that it has been selected by LPL Financial Holdings Inc (Nasdaq: LPLA) to develop a customized and fully integrated platform solution to enhance the firm's alternative investments program.
LPL Financial, one of the nation's largest independent wealth management firms, serves more than 28,000 financial advisors, including advisors at approximately 1,200 enterprises and 560 registered investment advisor firms. Collectively, these advisors oversee more than 8 million investors nationwide, managing over 1.8 trillion dollars in client assets. The new partnership with SUBSCRIBE will centralize LPL's alternative investment products, advisor education, compliance controls, and investment workflows on a single digital platform.
"We have been looking to elevate the advisor and client experience to set them up for success when allocating to alternatives," said Aneri Jambusaria, Managing Director, Head of Wealth Management at LPL Financial. "As we explored the available options in the market, we found that SUBSCRIBE's cutting-edge technology platform delivered a cross-functional suite that was unmatched."
During LPL Financial's third-quarter 2024 earnings call, CEO Rich Steinmeier highlighted the firm's commitment to expanding its alternative investment offerings to meet the needs of wirehouse and regional advisors. He emphasized the firm's progress in deploying a new alternative investment order entry system, which launched in the second quarter and has received positive feedback from advisors.
Through SUBSCRIBE's open-architecture platform, LPL Financial advisors will have access to a curated selection of alternative investment products, including private equity, private credit, real estate, hedge funds, 1031 exchanges, exchange funds, and feeder funds.
The platform also enhances compliance oversight by providing real-time monitoring and supervision tools. These modules validate advisor registrations and education requirements, account pre-qualification and suitability, sales-kit delivery, and firm-specific compliance controls such as concentration limits and state restrictions.
"We were looking for a trusted long-term partner, and what attracted us to SUBSCRIBE was the technology leadership and innovation they have demonstrated," said Kate Winters, Senior Vice President, Investment Product Management and Retirement Partners at LPL Financial. "They have simplified what is otherwise a complex process and built a compliant solution that meets our needs while giving us full control as we scale our product offerings."
SUBSCRIBE's platform integrates seamlessly with any organization's software ecosystem, including CRMs, custodians, fund administrators, law firms, trading platforms, and reporting software providers. The solution supports the complete investment lifecycle, from pre-trade and at-trade workflows to automated post-trade data collection and reporting through SUBSCRIBE Extract.
"We are pleased to be the exclusive operating solution for LPL's alternative investment program," said Rafay Farooqui, Founder and CEO of SUBSCRIBE. "Our platform's ability to integrate with large, complex organizations and deliver a single super-platform for fund operations and investor management positions LPL financial advisors, clients, and fund manager partners for long-term success."
