LPL Financial Retirement Partners Worksite Platform Will Be Available to Plan Sponsors at New York Life Retirement Plan Services

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– Expands Number of Retirement Plan Participants that will have Access to Innovative Platform’s Capabilities –

LPL Financial LLC, the nation's largest independent broker-dealer, an RIA custodian, and a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today announced that New York Life Retirement Plan Services will enable its sponsors served by advisors associated with LPL Financial to take advantage of LPL Financial Retirement Partners’ Worksite Financial Solutions platform.

Launched earlier this year, Worksite Financial Solutions is an innovative platform that enables participants in employer-sponsored retirement programs to receive custom-tailored financial advice and education throughout their employment careers and beyond, in order to promote their financial wellness and retirement readiness.

New York Life Retirement Plan Services is expected to provide a daily participant level data feed in the early part of 2014 to LPL Financial, when requested by plan sponsors, to enable LPL advisors to provide tailored financial advice.

Bill Chetney, Executive Vice President of LPL Financial Retirement Partners, said, “The addition of New York Life to the growing roster of retirement plan recordkeepers who can administratively support our Worksite Financial Solutions platform is a significant win for LPL Financial, our advisors and retirement plan participants. Worksite Financial Solutions represents our vision for the future of the retirement advisory industry; the capabilities it offers are urgently needed by our country’s retirement plan participants, who more than ever are focusing on the need to plan carefully and knowledgeably for their financial futures.”

“We are pleased our robust and flexible recordkeeping platform enables us to facilitate solutions such as Worksite Financial between our plan sponsors and LPL advisors,” said Patrick Murphy, managing director of distribution for New York Life Retirement Plans Services. “The need for comprehensive financial advice, beyond the 401(k), is vitally important to drive better outcomes for our participants.”

“We are very excited that New York Life can support Worksite Financial Solutions,” said Barbara Delaney, principal of StoneStreet Equity, LLC in Pearl River, New York and a retirement-plan focused financial advisor, registered with LPL Financial, providing advice and service in support of approximately $2.5 billion in assets. “This will enable us to offer the Worksite Financial Solutions platform to my New York Life plan sponsors, including a number of our existing $100M+ plans. The interest level is higher than we anticipated, and we expect the response will be similar for our other plan clients, since sponsors love the concept.”

The Worksite Financial Solutions platform provides financial education and customized planning and enables participants to engage with a financial advisor directly—either face-to-face, online, or over the phone—to receive personal financial advice based on their unique situation. The platform is fully integrated with LPL Financial’s reporting and monitoring tools for plan advisors. Participants can receive account reviews and updates from their advisor, creating opportunities for advisors to form closer relationships with plan participants.

About New York Life Retirement Plan Services
New York Life Retirement Plan Services offers bundled retirement plan solutions and defined contribution investment-only products throughout the United States. New York Life Retirement Plan Services, a division of New York Life Investments, administers more than $47.2 billion in bundled retirement plans as of June 30, 2013. New York Life Investments is a subsidiary of New York Life Insurance Company. With offices in Westwood, Massachusetts, Parsippany, New Jersey, and San Francisco, New York Life Retirement Plan Services is widely recognized for its leadership within the retirement plan industry.

About LPL Financial                                                                                                                
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine, June 1996-2013), an RIA custodian,* and independent consultant to retirement plans. LPL Financial offers proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 13,400 financial advisors and approximately 700 financial institutions. In addition, LPL Financial supports more than 4,600 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have approximately 3,000 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit

Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC

StoneStreet Equity, New York Retirement Plan Services and LPL Financial are separate and distinct entities.

*Cerulli Associates: RIA Service Agent Survey Q1 2013

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